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The company pays its employees at the end of the day Friday for work done during that five-day work-week. Total wages for a week are $16,000. In the current year, December 31 occurred on a Tuesday.a.Make the adjusting entry necessary on the company's books on December 31 with respect to unpaid employee wages.b.Make the journal entry necessary on Friday, January 3, of the following year to record the cash payment of wages for the week. Ignore the New Year's holiday season and assume that employees worked each of the five days. Note: When making this entry, don't forget the adjusting entry that was made on December 31.
Prepare the journal entries required to record the following transactions of a nongovernment, not-for-profit organization. 1. Unrestricted cash contributions received durin
The following costs were incurred in 2010 in the design and construction of a new office building over a nine-month period during 2010: Requirement Calculate the amount
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am trying to figure out the break-even point in units using the mathmatical equation. the numbers i have are unit selling price $520, the variable costs per unit are $312 and fina
DEEDS OF ARRANGEMENT (D of A) 1. Nature of a D of A : To avoid the expense and delay involved in a bankruptcy, a debtor in trouble may make a private arrangement with the
You were hired as a consultant to Giambono Company, whose target capital structure is 40% debt, 15% preferred, and 45% common equity. The after-tax cost of debt is 6.00%, the cost
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question 5 chapter 5
Zoum Corporation had the following transactions during 2014: 1. Issued $125,000 of par value common stock for cash. 2. Recorded and paid wages expense of $60,000. 3. Acquired land
Let us assume you expect to obtain Rs.2000 yearly for the next three years. The receipt of Rs.2000 is evenly divided. One part that is: Rs.1000 is obtained at the beginning of the
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