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Question - Alpha Company started the year with a balance of zero in supplies. During the period buys $13,840 of supplies for cash during the year and $9,500 are consumed by end of year. The adjustment for usage was correctly journalized and posted. However, the journal entry for the purchase was erroneously posted twice to the ledger. This error will not make the year end trial balance or the balance sheet out of balance. What is the correct amount of year end balance of the supplies account as reported in the balance sheet?
In addition, direct labor costs of $75,000 were incurred, overhead applied equaled $80,000, What was the amount of cost of goods manufactured for the year
You are preparing the worksheet for the 2020 fiscal year. How much unrealized net gain from the equipment transfer remains at the beginning of 2020
How much of these premiums may Jean deduct as a deduction for AGI? How much may she deduct as an itemized deduction (subject to the AGI floor)
Calculate Lawrence's pensionable, insurable and taxable amounts. Then calculate CPP & EI deductions and look up the corresponding federal and provincial tax
Classification at costs, merchandising sector Home Entertainment Center (HEC) operates a large store in San Francisco. The store has both a video section and a music section
Norfolk Southern Corporation reports revenue in its income statement when it is earned instead of when the cash is collected.
The tractor will be returned to the lessor at the end of the lease term with no option to purchase the asset. What is the total amount of lease expense
Create the deferred tax worksheet as at 30 June 2019 and the tax journal entries. Discuss the factors the company should have considered before recognising .
A company has a Return on Equity of 0.2, a Profit Margin of 0.14 and Total Asset Turnover of 0.48. Using this information calculate the Equity Multiplier
The employee will receive a $811.00 bonus. Their total wages are $22261.00 of which $873.00 is pay for time off. Calculate the burden markup for this employee
Do you feel that Tomas is acting in a professional manner? Who is impacted by Tomas's decision to "plug" the numbers in order to get his statements to balance?
morrissey law firm has found from past experience that twenty percent of its services are for cash. the remaining
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