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1. Data Technologies provides maintenance service for computers and office equipment for companies throughout the Northeast. The sales manager is elated because she closed a $300,000 three-year maintenance contract on December 29, 2011, two days before the company's year-end. "Now we will hit this year's net income target for sure," she crowed. The customer is required to pay $100,000 on December 29 (the day the deal was closed). Two more payments of $100,000 each are also required on December 29, 2012 and 2013. Discuss the effect that this event will have on the company's financial statements.
1. journalize the following accrued expense transactionsa. xyz company purchased a one-year insurance policy on august
Deep Valley Foods manufactures a product that is first smoked and then packed for shipment to customers. The product's direct labor cost per pound is budgeted using the following information:
on january 1 2014 zinn company obtained a 39000 four-year 10 installment note from fidelity bank. the note requires
Equipment acquired at the beginning of the year at a cost of $125,000 has an estimated residual value of $5,000 and an estimated useful life of eight years. Determine
What lump-sum will Henry have to invest now at 12% per year in order to have $2,000 at the end of each of the next two years?
income statements for two different companies in the same industry are as
comparative balance sheetdecember 31nbspnbspnbsp assetsnbspnbsp 2009nbspnbsp 2008cash 35000 40000short-term
Although White fully expects to earn in excess of $100,000 in year 2 and year 3, the company believes it is more likely than not that it will incur a loss after year 3. The enacted tax rate is 25% in current and future periods. What will White rec..
What is the promotional expense that Drew-Richards should report in its 2011 income statement?
Find a business that has had recent supply chain successes or failures. Provide an in-depth company profile, then report on two situations providing details about what happened, what the company's reaction was, and the resulting impacts.
_____ would not appear on the financial statements for a sole proprietorship. A. Cost of Goods Sold B. Unearned Sales Revenues C. Accumulated Depreciation D. Paid-in Capital
schefter mining operates a copper mine in wyoming. acquisition exploration and development costs totaled 8.2 million.
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