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Questions -
Q1) On November 13, Frankfurt Staffing Co. internally develops a customer list by paying for related expenditures of $21,000 for consulting, $7,000 for market research, and $33,000 for personnel salaries. Record the journal entry for the costs.
Q2) Kinnison Malls pays $46,100 for a parking lot to be installed on May 31, 20X1. The asset is considered to be a "land improvement" that has a $1,000 salvage value and a 5-year estimated life. The company will use the double-declining-balance method for depreciation. What is the amount of accumulated depreciation after the 20X2 adjustment? Please round all amounts to the nearest dollar and any rates to the nearest penny.
Q3) List price does not include the required 6% sales tax. Record this transaction into a journal entry (ignore any cost of goods sold entries). You may round amounts to the nearest dollar.
Fast-Forward has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by owners in exchange for stock of $6,000. Its ending equity is:
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May
Balance of accounts receivables at the start of the month $82,863,000. Prepare the monthly Cash Budget for the Quarter
Prepare income statements for EntertainMe in January, February, and March 2017 under (a) variable costing and (b) absorption costing.
1. devlin company has two divisions c and d. the overall company contribution margin ratio is 30 with sales in the two
Inventory includes the following: Beginning balance of $22,000 (1000 units at $22). Prepare Origination Entries and Closing Entries
Calculate the following: (a) income from operations, (b) net income, (c) comprehensive income, and (d) retained earnings balance as of December 31, 2017
Read "Investing in a Vineyard: A Cash Flows Perspective" on page 335. What are the cash outflows? Inflows? How do you think this business is doing now seven.
What are the common errors and frauds in the personnel and payroll cycle? Which control characteristic are auditors looking for to prevent
Sales commissions, KD 40,000; plant supervision, KD 94,000; and administrative expenses, KD 185,000. Hillside's period costs total
Compute the company's total cost for the year assuming that variable manufacturing costs are driven by the number of units produced
on may 31 2008 donald co. has 100000 shares of 9 par value common stock issued and outstanding. the balance sheet
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