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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.
After going through this section, you must be capable to: - Identify the time value of money; - Know what gives money its time value; - Identify
Variation of securities It would seem logical to carry out a strict apportionment between income and capital every time investments are bought or sold. If this were done, it wo
What is the internal rate of return for a project that has a net investment of $76,000 and net cash flows of $20,507 per year for 7 years? What is the internal rate of return fo
Determine balance sheet: Income Statements Year Ended December 31, 20X8 Insure Co. Go-med Co. Sales $3,900,000
Notsofast Inc. acquired land for $500,000 on 7/1/2010. It erroneously recorded the full amount as an expense. Explain what Notsofast must do when it discovers the error in 2011. Wh
In additional information depreciation of two years is given. What is the treatment of it while preparing fixed assets account.
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The standard EOQ model supposes that materials can be procured immediately and thus implies that the firm may place an order for replenishment as the inventory level drops to zero.
Consider the expected return and standard deviation of the following two assets: Asset 1: E[r1]=0.1 und σ1=0.3 Asset 2: E[r2]=0.2 und σ2=0.4 (a) Draw (e.g. with Excel) the
The John Company maintains a checking account at the Bank of the Cumberland. The bank provides a bank statement along with canceled checks on the last day of each month. The Octobe
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