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On September 1, Banger Bros Company paid $9,000 for one year of rent, in advance. Assume no entries were made until the end of the year. 1. Prepare the adjusting entry for December 31st to reflect the amount of rent expense consumed. 2. What is balance in prepaid rent on December 31st after the adjusting entry has been made?
The corporation elected S corporation status at the starting of 2011. On February 13, 2012, the property was sold for $40,000, payable in 4 yearly instalments of $10,000 plus interest. What is the amount of ordinary income to be reported from the s..
Find a newspaper or magazine even online and select an article relating to the use of governmental funds by state, county, local government, etc on an activity.
Total 2008 gift of life insurance policy is 72,000. annual exclusions are 24,000 (two donees at 12,00). Current taxable gifts equal 48,000.
Questions based on partnership. a)Write definition of partnership? b) Name and discuss the characteristics of a partnership c) Advantages of a partnership as a form of business
A detailed analysis and evaluation of company'ssolvency , liquidity and profitability position. Develop common-sized income statements for most recent two years, and comment on items which you deem important.
According to US GAAP, what should be the basis for reporting the assets and liabilities of Small within consolidated financial statements created on the date of acquisition?
Provide the fund level entries in general journal form required to conform to generally accepted accounting principles. If no entry is needed, so indicate.
Discuss whether Loewen Group expansion from funeral homes to cemeteries affected its horizontal or vertical boundaries or both.
The company mostly sells on a retail basis to household consumers, but occasionally receives large orders for tables and chairs from schools and businesses.
Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. $800 to reimburse the cost of meals incurred by employees while travelling for the business $1,200 for football tickets to entertain out-of-town clients ..
Future cash flows are, in many cases, subject to change. List several events that could occur that might influence the cash flows in this situation.
Explain what you understand by the term depreciation and it's relevance in the preparation of financial statements, Prepare ledger accounts, Prepare an income statement, Prepare a balanced sheet
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