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What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices would be acceptable?
On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:
Prepare entries in journal form to record the (1) monthly payroll and (2) employer payroll expenses, assuming Social Security and Medicare taxes equal to the amount for employees, a federal unemployment insurance tax of 0.8 percent, a state unempl..
Prepare the accounting records for Tanya's Tutoring Service (Version A), Set up the Chart of Accounts, Prepare the bank reconciliation for January 31, 2013
The company's net income for the year was $12,000 higher under variable costing than under absorption costing. Given these facts, the number of units of product in inventory at the beginning of the year must have been:
Beka Company owns equipment that cost $50,000 when purchased on January 1, 2005. Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.
Please indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
Is Choi's ruling an ethical violation, or is it a legitimate decision in computing depreciation? How will Choi's new depreciation rule affect the profit margin of her business?
What would be the proper entry for the following transaction?
In 400 words describe brainstorming risk management techniques and the rationale behind selecting brainstorming risk management technique.
The following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. Prepare in journal form the entry to record each transaction.
Prepare a memorandum - Does Cost of Goods Sold decrease or increase when concluding a favorable variance? Does gross margin increase or decrease when a favorable variance is closed to Cost of Goods Sold? Describe.
Suppose a 40% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is
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