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Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the credit card receipts.
a) Prepare the general journal entry to record performance of the services.
b) Prepare the general journal entry for collection of the receivable from the credit card company.
Attribution When individuals monitor performance they attempt to determine if it is inner or outer caused. "Inner caused" means 1 believes that an event was under the personal
How Accounting objectives can be achieved There are two main ways by which this can be achieved: All the accounting records are maintained at the head office; or Each
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Using CAPM's formula, Return on equity = Risk-free rate + Beta*(Expected market return - risk-free rate) With the given information, Return on equity = 1% + 1.7*(9% - 1%)
Illustration of Admission of a new partner XYZ have been trading as equal partners having capital contributions of £300,000, £250,000 and £200,000 respectively. They agreed
the role of international accounting toward promotion of generally accepted accounting principle
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
RESOLUTIONS OF CREDITORS Normally, decisions at meetings of creditors are taken by ordinary resolution, viz., a resolution passed by a simple majority in value of creditors pre
Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."
Q. Explain about Mutual Fund? Mutual Fund - Investment Companythat usually offers its shares to general public and invests the proceeds in a diversified portfolio of SECURITIES
I am unable to solve out this question. Can anyone suggest me how to solve this question.
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