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Question 1: Metro Event Planning Services collects fees from its customers in advance. On January 1, 2019, the balance of its unearned revenue account was $5,000 (credit. During January and February, the company collected $2,000 and $700 as advance fees, respectively. During the two-month period, it performed services of $4,500 related to the deferred revenue. What is the balance in unearned revenue at the end of February?
Product B was allocated additional overhead = $47,500 after TNT corp switched to ABC. Machine hrs is the newly introduced pool. Product B uses 70% of machine time and 45% of direct labor which previously was the only driver. How much overhead is allo..
the two women's funds earn the same returns in the future as in the past, how old will each be when they become millionaires?
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 a hotel income statement for analysis and then evaluate the hotel's performance by comparing actual results to budget for a 4-month
As of December 31, 2015, Michael Corp's current assets were $2,000,000. Its current liabilities were $2,000,000.
journal entries for bank reconciliation1. prepare bank reconciliation.nbsp use a format like the one shown on page 370
Pechstein Corporation issued 2,780 shares of $8 par value common stock upon conversion of 1,200 shares of $50 par value preferred stock. The preferred stock was originally issued at $58 per share. The common stock is trading at $27 per share at the t..
What are the theoretical probabilities of two dice being rolled? Roll the two dice at least 30 times and record the number of times each sum appears.
Preparing a standard cost summary and making journal entires. The normal capacity of Albany Adhesives Inc. is 40,000 direct labor hours and 20,000 units per month. A finished unit requires 6lbs of materials at an estimated cost of $2 per pound. Prepa..
Determining Acquisition cost. Tarpley, Inc. acquired land for $400,000. - What is the acquisition cost of the land?
The bottling plant will pay Hunter $380 per week this year and 7% more next summer. At the meat-packing plant, he could work 20 hours per week at $8.75 per hour. Now suppose that Hunter considers the time value of money for all cash flow that he expe..
sandi scott obtained a patent on a small electronic device and organized scott products inc. to produce and sell the
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