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Questions -
Q1. Jim and Pam originally purchased office furniture for $600, and just sold it for $200. At the time of the sale, the furniture had accumulated depreciation of $480. (a) What was the book value at the time of sale, and (b) What is the journal entry to record the sale of the office furniture?
Q2. East Skies Karate sells 5-week lesson pre-purchase packages for students. On January 9 they sold 80 packages for $100 each. Show the journal entry (a) to show the sale of the packages, and (b) the journal entry when each weekly lesson is completed.
the following transactions occurred during february 2013 for the quest company. the company owns and operates a
Prepare Melinda's cash payments budget for the coming year
Find What level of sales would generate a net income of $4.2m for the following year, knowing that operating costs (excl. depreciation and amortization)
How is the equity value of a business calculated considering only the accounts in the owner's equity section of the trial balance
What are the three basic forms of business organizations for profit-oriented enterprises?
However, Judy paid him $55,000 rather than $33,000. Judy is on the cash method and calendar year, and she wants to know what amount of these expenditures is deductible as business expenses.
Question - Next Corp issued a five year bond one year ago with a coupon rate of 7.0 percent. What is the price of the bond
Davis Inc. expects to sell 41,000 units during the next quarter at a selling price of $66 per unit. How much is the company total contribution margin
Assume that it is more likely than not that the all carry forward benefits will be realized. Prepare the journal entries for 2020 and 2021
Almeda wrote off accounts of $36,825 as uncollectible. Calculate the amount of bad debt expense for the year if Almeda estimates the expense as 2% of sales
A refundable security bonus received by lessor from the lessee is P300,000. How much is the lease revenue on December 31, 2021
Assume that Jewels uses the LIFO cost flow assumption. Calculate cost of goods sold. How much gross profit would the company report.
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