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Question 1: If the unearned rent revenue in Trial Balance in 31 December 2019 recorded as 600,000$. What is the balance day adjustment general journal entries as at 31 Dec 2019 for Rent was received on 1 Dec 2019 for 3 months
Art and Cathy brown are married and nave one child. Art is putting together some figures so that he can prepare the Brown's joint 2014 tax return. He can claim three personal exemptions (including himself). Given this information, how much taxable in..
Explain Budgets, its types and steps involved in financial Budgeting in a company. - Describe the main areas of taxation legislation that applies in the areas of financial management.
Is book value an estimation of an asset's fair market value? Describe.
Caine Bottling Corporation is considering the purchase of a new bottling machine. The machine would cost $172,129 and has an estimated useful life of 8 years with zero salvage value. Management estimates that the new bottling machine will provide net..
Provide three examples of expense recognition justified by a direct relationship with revenue (cause and effect) and an indirect relationship with revenue.
A $50,000 interest-only mortgage loan is made for 30 years at a nominal interest rate of 6 percent. Interest is to be accrued daily, but payments are to be made monthly. Assume 30 days each month. What will be the monthly payments be on such a loan? ..
What would you recommend to Mr. Cartwright and to the banker and what would the income statement and balance sheet look like if he took the discounts for the entire 2004 year?
Oceanic Organization is assessing two equally Elite Remodeled Designs with a three--year target completion scenarios. Each migration requires an investment of $10,000. The Network Migration had the following cash inflows received at the end of..
CPAs are allowed to advertise under the Rules of the AICPA Code of Professional Conduct. List the general guidelines regarding the nature of acceptable advertising. Describe two specific forms of unacceptable advertising.
It seems from the discussion in the book that positive confirmations are more useful in detecting misstatements. Do you think there are any instances when negative confirmations are justified? When? What are the benefits of negative confirmation? Are..
Prepare the journal entry to record the sale of the options.
capitalization or expensing the equipment.merton company purchased a building at a cost of 364000 on january 1
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