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Question - On Oct 1, 2011 you received rent in advance of $12,000 for 3 years. You credited rent revenue.
A. You forgot to make an adjusting entry on December 31, 2011. What is the correcting entry to be made in 2012 assuming the books for 2011 are closed?
B. Assume the same information given except you credited rent expense for $12000.
What is the correcting entry in 2012 assuming the books in 2011 are closed?
Explain the concept of depreciation. Which of the following depreciation methods would you recommend: straight-line depreciation, double declining balance method, or an alternative method?
What amount of shipping costs should Bread Co. record as selling costs and NOT include in ending inventory or cost of sales
Assume that on January 1, 2011, Weber Company issues bonds with a face value of $300,000 that pay 10 percent interest, semiannually (5 percent per period) and mature in 10 years. Assume that the market interest rate at the date of issuance is 6 per..
Park A is a private camping ground. It has compiled the following financial information as of December 31, 2017. Determine net income for 2017
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Barr & Eglin Co. reports net income of $42,000. Compute the amount of net income distributed to each partner
please these one cant figure out how to prepare journal entries for these please help me.
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The balance consists of the following. Illustrate how the information above should be shown on the balance sheet of Patriot Company onDecember 31,2010.
Manning Imports is contemplating an agreement to lease equipment to a customer for five years. Manning normally sells the asset for a cash price of $100,000. Assuming that 8% is a reasonable rate of interest.
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