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Adjusted Trial Balance January 31, 2012 Debit Credit Supplies $ 854 Prepaid Insurance 2,490 Salaries and Wages Payable $ 769 Unearned Service Revenue 783 Supplies Expense 950 Insurance Expense 415 Salaries and Wages Expense 2,901 Service Revenue 3,300 Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $1,075 of supplies was purchased in January.
what was the balance in Supplies on January 1? The balance in Supplies on January 1 $ (b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased? The total premium $ The policy purchased (c) If $3,189 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2011? The balance in Salaries and Wages Payable at December 31, 2011 $ (d) If $1,889 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2011? The balance in Unearned Service Revenue at December 31, 2011 $
For March, sales revenue is $800,000; sales commissions are 4% of sales; the sales manager's salary is $80,000; advertising expenses are $75,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $2,100 plus 3/4 of 1% of ..
In this way we could combine the recording and posting process into one step and save ourselves a lot of time. What do you think?
Kinnion Medical Clinic has budgeted the following cash flows, Kinnion Medical had a cash balance of $8,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in increments of $1,000,
The contract required 8 equal annual payments with the first payment due on June 1, 2006. What type of compound interest table is appropriate for this situation?
Fluent an investor in stocks and bonds wanted to increase his portfolio but wanted to minimize his tax liability on the income from the bonds. He is presented with the following alternative investments: US Series EE bonds, bonds for industrial dev..
Identify four measures that Nordstrom could include in the financial perspective of a balanced scorecard. How do the measures that you have chosen differ from one another? Ideally, should each measure increase or decrease over time?
Given the quantity and total fixed and variable costs, compute the remaining costs the complete the following table.
In 2009, Ray incurs $60,000 of mining exploration expenditures, and deducts the entire amount for regular income tax purposes. Which of the following statements is incorrect?
Ford county lieves for its general fund $2,000,000 in property taxes. In addition, the county is responsible for collecting $4,000,000 in property taxes for the consolidated school district and $1,000,000 in property taxes for a town within the co..
Swagelok Enterprises is manufacturer of miniature fittings and valves. Over a 5-year period, the costs associated with one product line were given below:
Prepare the entries on both companies' books assuming that the exchange had commercial substance. Prepare the entries on both companies' books assuming that the exchange lacked commercial substance.
Rooney Inc. recently completed a 3-for-2 stock split. Prior to the split, its stock price was $90 per share. The firm's total market value was unchanged by the split.
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