Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Explain how each of the following events or series of events and the related adjusting entry will affect the amount of net income and the amount of cash flow from operating activities reported on the year end financial statements. Identify the direction of change (increase, decrease, or NA) and the amount of the change. Organize your answers according to the following table. The first event is recorded as an example. If an event does not have a related adjusting entry, record only the effects of the event.
a. Acquired $60,000 cash from the issue of common stock. b. Earned $20,000 of revenue on account. Collected $15,000 cash from accounts receivable. c. Paid $4,800 cash on October 1 to purchase a one year insurance policy. d. Collected $12,000 in advance for services to be performed in the future. The contract called for services to start on August 1 and to continue for one year. e. Accrued salaries amounting to $5,000. f. Sold land that cost $15,000 for $15,000 cash. g. Provided services for $9,200 cash. h. Purchased $2,000 of supplies on account. Paid $1,500 cash on accounts payable. The ending balance in the Supplies account, after adjustment, was $800. i. Paid cash for other operating expenses of $2,200.
carleton service center just purchased an automobile hoist for 15000.the hoist has a 5-year life and an estimated
Graceland writes the inventory down from $95,000 to its lower market value of $82,000 at the end of the year. Elvis owns 75 % of Graceland. Based on this information, what amount of inventory should be eliminated in the consolidation workpaper for..
Which of the following is a capital asset? a) The bicycle of a 10-year old child. The child purchased the bicycle with money inherited from an aunt. b) The tools used by a self-employed carpenter.
Discuss the potential liability of the rental company, the Dawsons and anyone else you feel may be held accountable for the injuries to the boys.
Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remaining balance was $11,000, Ned filed for bankruptcy and notified Monty that he would be unable to pay the balance on the ..
dinkle manufacturing company manufactures a variety of tools and industrial equipment. the company operates through
Selling and administrative expenses include $39 million in restructuring costs.
based in minneapolis minnesota the hubert memorial foundation has 300 million in investments and contributes
What is the total of the Rental income account on December 31st if your company uses the following basis of accounting - Cash basis of accounting
display prices menu item to show the ticket prices dialog box with price schedule on programming exercise 8.3 in
state with reasons that whether the following items are capital or revenuea purchase of land.b installation of plant
russell preston delivers parts for several local auto parts stores. he charges clients 0.78 per mile driven. russell
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd