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1. A company makes an accrued revenue adjusting entry for $780 and an accrued expense adjusting entry for $510. How much was net income understated prior to these entries? Explain.
Compute the net interest expense to be reported for this note and related swap transaction as ofDecember 31, 2010.
during the fourth quarter of 2006 cablevision inc. generated excess cash which the company invested in securities as
Isaac Company has a selling price of $10 per unit and expects to maintain ending inventories equal to 25 percent of the next month's sales. Calculate the budgeted beginning balance in units for finished goods inventory on November 1?
During the year, National sold 48,000 washing machines and paid warranty costs of $340,000. In its income statement for the year ended December 31, National should report warranty expense of
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)
the following are the amounts of the assets and liabilities of pedigree travel service at december 31 2008 the end of
lauter printing uses two measures of activity press runs and book set-ups in the cost formulas in its budgets and
Waheed Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour.
Charlie Brown, controller for the Kelly Corporation, is preparing the company's income statement at year-end. He notes that the company lost a considerable sum on the sale of some equipment it had decided to replace.
gleason manufactures a single product with the following full unit costs for 6000 units direct materials 160 direct
Byron incurred a loss on November 30 sale of $220,000. Ignoring income taxes, what amount should be reported in the 2010 income statement as the net income or loss under 'discontinued operations'?
Briefly describe how a cellular phone service works.
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