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Adjusting Entries. The following transactions pertain to the 1995 accounting period of Shelfer Company. Feb. 1 - Received $ 3,600 of rent for one year paid in advance by a tenant. June 1 - Paid $ 2,000 to a television station for commercials that will be run evenly over two years, beginning on July 1, 1995. Nov. 1 - Paid $2,880 for a four-year fire insurance policy. Dec. 1 - Received $ 2,400 from customers representing subscriptions paid in advance for two years. Instructions: a. Journalize the adjusting entries required on December 31, 1995, assuming that the company enters the amounts that are received or paid in advance in real (i.e balance sheet) accounts. b. Journalize the adjusting entries required on December 31, 1995, assuming that the company enters the amounts that are received or paid in advance in nominal (i.e income statement) accounts.
the rondo company had a beginning inventory of 12500 net purchases of 23500 and a physical count ending inventory of
framework project stipulates the desired fundamental and enhancing qualitative characteristics of accounting
Compute the amount of the credit using the information presented in 206.06.
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Emerson electric common stock selling for $36.75 recently paid a $1.32 dividend and the firms earning per share has increased from $1.49 to $3.06 in the past five years. The expected rate of return is 15%. Calcualte the value for this investment b..
Angela Moss and Autumn Barber organize a partnership on January 1. Moss's initial net investment is $75,000, consisting of cash ($17,500),
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if a company owns more than 20 of the stock of another company and the stock is being held as a long-term investment
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