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Camp Company accepted credit cards in payment for $4,000 of services performed during July 2013. The credit card company charged Camp a 4 percent service fee; it paid Camp as soon as it received the invoices.
Required:
a. Prepare the general journal entry to record the service revenue. b. Prepare the general journal entry for the collection of the receivable from the credit card company. c. Based on this information alone, what is the amount of net income earned during the month of July?
Mega Inc, has common stock and 6% preferred stock outstanding as follows: Preferred stock: 10,000 shares, $100 par value, cumulative. Common stock 50,000 shares, $50 par value.
How much cash is in the retained earnings account - dtermine the maximum dividend GreyCo can pay - Determine the amount of retained earnings as of 12-31-2013.
for a recent operating period the bayside division of fairhaven corporation had sales of 400000 net operating income of
calaveras tire exchanged machinery for two pickup trucks. the book value and fair value of the machinery were 40000
The annual interest rate implicit in this agreement is 24%.
What is the basic difference between absorption costing and variable costing?
Determine which expenses are mixed and, by use of the high low method, seperate each mixed expense into its variable and fixed components. state the cost formula for each mixed expense.
The County Commission of Brook County adopted its General Fund budget for the year ending June 30, comprising estimated revenues of $3,200,000 and appropriations of $2,900,000. Brook County utilizes the budgetary accounts required by GASB stan..
Queen desires an ending finished goods inventory to be equal
the production department of zan corporation has submitted the following forecast of units to be produced by quarter
Justify the method of writing off the production-volume variance to the cost of goods sold, as compared to allocating the variance to work-in-process and finished goods inventories.
scott and quick are accountants for millenium computers. they disagree over the following transactions that occurred
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