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A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and the invoice. Prepare journal entries to record these transactions in the General Fund.
On its December 31, 2010 balance sheet, Emig Corp. reported bonds payable of $6,000,000 and related unamortized bond issue costs of $320,000. The bonds had been issued at par. On J
PROOF OF DEBTS The following rules apply as to the proving of debts: 1) A creditor has no right to vote or receive dividends until his debt is proved to the satisfaction of th
The matching rule is applied a. because it is required by the Internal revenue Code b. by expensing certain items immediately and in their entirety c. to help make the bookkeeper's
An item of plant was purchased for $100,000 on 1 January 2009. At that time its estimated residual value was $5,000. At 31 December 2009 prices, the residual value was estimated at
can a company reissue a share at discount which was earlier issued at discount
I have a presentation on an article (around 20 pages). I also need 2 current real life examples (2 companies) to support the presentation. Can you do that? How long it will take yo
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Assume that it is now January 1, 2012. XYZ Inc. has developed a solar panel capable of generating 200% more electricity than any other solar panel currently on the market. As a res
Which of the following actions are most likely to directly increase cash as shown on a firm's balance sheet? Explain and state the assumptions that underlie your answer. 1. It i
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the ‘Pay Yourself Firs
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