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Sesame company purchased a computer system for $74,000 on January 1,2009. It was depreciated based on a 7-year life and an $18,000 salvage value. on january 1, 2011, Sesame revised these estimates to a total useful life of 4 years and a salvage value of $10,000. Prepare Sesame's enty to record 2011 depreciation expense.
Describe the accounting rules and regulations you would introduce to ensure that these types of accounting irregularities do not occur in the future.
What do you need to find out before next tax season?
Karr Company purchased bonds with a face amount of $400,000 between interest payment dates. Karr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000.
Prepare journal entries to record the pension expense and funding of plan assets to verify the change in the pension asset/liability.
What is the balance sheet account for which a temporary difference is created by the situation? Unearned subscription revenue or subscription revenue?
For the year ended December 31, 2011, Winter Company has implemented an employee bonus program equal to 3% of Winter's net income, which employees will share equally. Winter's net income (prebonus) is expected to be $1,000,000, and bonus expense i..
For the year ended December 31, Laramie Industries has a depreciation expense per its tax return greater than its financial statement tax expense, and had recorded warranty expense (associated with a one-year guarantee on its products) in its fina..
An accountant has debited an account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction:
Arantxa Corporation has outstanding 20,000 shares of $5 par value common stock. Prepare Arantxa's journal entries to record these transaction using the cost method.
As part of its stock-based compensation package, International Electronics granted 24 million stock appreciation rights (SARs) to top officers on January 1, 2006.
Cara has received a special order from a foreign company for 5,000 units. There is sufficient capacity to fill the order without jeopardizing regular sales. Filling the order will require spending an additional $4,250 for shipping.
Which of the following accounts is not affected when an account receivable written off as uncollectible is unexpectedly collected?
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