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The column of the income statement show the debits are equal to $56,899 and credits are $60,333. What do this information mean to the accountant?
What journal entry should be made at the beginning of the fiscal year to reestablish the Encumbrances account of a capital projects fund for a multi-year capital project?
Information on Fleming Company's direct material costs follows: What was the company's direct material price variance?
What are the potential benchmarks that you could use to compare a company's financial ratios? What are the pros and cons of these alternatives?
Palermo Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $408,000 for April and $485,000 for May. Cost of goods sold is expected to be 64% of sales.
High & Dry’s standard price for direct materials is $3.60 per unit-The actual purchase price per unit was
how accounts receivables and cash go together. Beyond just cash showing when funds are collected how is the timing of receivables different than the timing of cash and how can the company make sure they are on top of collecting the funds due them.
Paul Company had 100,000 shares of common stock outstanding on January 1, 2009. On September 30, 2009, Paul sold 48,000 shares of common stock for cash. Compute basic earnings per share for 2009.
Samantha's Design Studio showed office supplies available of $700. A count of the supplies left on hand as of June 30 was $400. The adjusting journal entry is:
The renovations cost $50,000 and have a useful life of 8 years. Lisa's Boutique will record occupancy expense for the year ended December 31, of :
A corporation has 1,000 shares of 10 percent, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $40,000, the common stockholders will re..
Suppose the National Bank of Commerce has excess reserves of $12,000 and outstanding checkable deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?
Flying Penguins Corp. has total current assets of $11,845,175, current liabilities of $5,311,020, and a quick ratio of .89. What is its level of inventory?
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