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A $142 petty cash fund has cash of $24 and receipts of $121. Which of the following would be the credit in the journal entry to replenish the account?
What percentage interest in the pool is held by the town and the school district? Show the entry in the Investment Trust Fund to record the School District's investment in the pool.
What is the advantage of overestimating? What are the pitfalls of under-estimating?
How much overhead is allocated? What is the over/under absorbed overhead?
Provide examples from the manufacturing industry of:
Using a Governmental Agency or Not-for-Profit organization identify what are considered to be its major funds? In what key ways are major funds reported differently than non-major funds?
Compute the largest tax deduction possible in 2010 for the equipment (consider the Section 179 election, Bonus Depreciation, and MACRS):
CPAs are allowed to advertise under the Rules of the AICPA Code of Professional Conduct.
Evaluate the importance of ethics in accounting. Do you think ethical behavior is more or less important in this profession than in others? Defend your position. Analyze the code of professional conduct, including enforceable and non-enforceable p..
A firm lends $10,000 for 5-years with no stated interest rate. The market rate of interest at the time would have been 5%. What is the journal entry that should be made a. at the time the money is loaned and b. at the end of the first year of the ..
Gore company had beginning work in process inventory of 5,000 units that were 40% complete as to conversion costs. X started and completed 42,000 units this period and had ending work in process inventory of 12,000 units. How many units were start..
The second was furniture with an original basis of $24,000 placed in service during the first quarter, currently in the fourth year of depreciation, and under the mid-quarter convention. What is Bonnie Jo's depreciation expense for the current yea..
Circle K Furniture has a contribution margin ratio of 16%. If fixed costs are $176,800, how many dollars of revenue must the company generate in order to reach the break-even point?
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