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Problem 1: Hans Company has 2 items that are under evaluation for possible year-end adjustments. First is the purchase with supplier invoice dated December 30, 2021 - $120,000. This was shipped FOB shipping point, freight prepaid. The freight costs $5,000. The purchase was recorded but the freight was not. Second is the purchase return of $20,000 which was made but not recorded. If the correct ending inventory is $200,000 and the cost of goods sold before adjustments is $5,000,000, what is the correct amount of cost of goods available for sale?
Bernard Creighton is the controller for Creighton Hardware Store. INputting together the cash budget for thr fourth quarter of the year, he has assembled the following data.
Mary received her stock for services rendered. She normally would bill $20,000 for these services. What is David's basis in the corporate stock received
Dan Company recently acquired two items of equipment. What is the total increase in the equipment account as a result of the transactions
the following information relates to james company.nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp nbsp
Sheila takes out a $20,000 loan over 3 years with a monthly repayment of $941.5. How much principal has been paid by the end of the third month?
What are the key differences between a governmental unit and a commercial company?
The standard prime costs for one unit of Stylex are as follows: DM: 20 yards @ $1.35 per yard $27. Compute the Material variances and Labor variances
Calculate the yearly depreciation under the units-of-production method, assuming useful life of 10,000 units, and 500 units produced in the current year.
what is the difference between the cash basis of accounting and the accrual basis of accounting? which one would you
At the end of the current year, $8,450 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees.
james and pamela brock and william brock provide you with the following information related to expenditure they have
What is the materials price variance for the month and what is the materials quantity variance for the month
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