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Mobol, a wireless phone carrier, completed its first year of operations on December 31, 2017. All of the 2017 entries have been recorded, except for the following:
Problem 1. What is the annual reporting period for this company?
multiple choice 1
A. January 1 through December 31B. April 1 through March 31C. April 1 through December 31
Problem 2. Identify whether each required adjustment is a deferral or an accrual.
multiple choice 2
A. Both transactions are accrualsB. Both transactions are deferralC. First transaction is accrualD. First transaction is deferralE. Second transaction is accrualF. Second transaction is deferral
Find What is the contract revenue for 2020? What is the unearned revenue on December 31, 2020? What is the contract revenue for 2021?
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D's shares have a market value of $3 on the date of acquisition, while M's shares are valued at $2. Determine the cost of the business combination.
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