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1. At the end of its first year of operations, the trial balance of Rafael Company shows Equipment $30,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,000. Prepare the adjusting entry for depreciation at December 31, and indicate the balance sheet presentation for the equipment at December 31.
The Tiernan Gallery and Art Museum distributes to its visitors a printed guide to its collections. There are about 18000 visitors per year. Holding costs for the brochures are 20% and it costs $30 to place an order with the printer.
What is a strictly selfish commercial view? Why should a professional abandon the strictly selfish commercial view and keep in mind the advantage of the client?
Why must a company use pre-determined overhead rates when using job order costing? What are some additional costs that you would need to consider if the motorcycles were for customers that were overseas?
the current asset section of guardian consultants balance sheet consists of cash accounts receivable and prepaid
You are working as a school counselor in an elementary school in a rural community. You are also on the city council and are involved in your local faith-based community. As such, you know most people in the community.
Accounting is often referred to as the language of business. What does this mean? Why is it important to know this language? What are some specific areas of business in which you feel the study of accounting will help you?
The new machine would cost $20,000 per year to operate and maintain, but would save $100,000 per year in labor and other costs. The old machine can be sold now for scrap for $50,000. The simple rate of return on the new machine is closest to:
the ctl company has two divisions electronics and dvdvideo sales. electronics has traceable fixed expenses of 146280
An imaging center has the following information: Compute the total dollar contribution margin dollars and percentage.
a bank offers your firm a revolving credit arrangement for up to 68 million at an interest rate of 1.41 percent per
Refer to the situation described in BE 7-10. If credit sales for the year were $8,200,000 and $7,950,000 was collected from credit customers, what was the beginning-of-year balance in accounts receivable?
describe how bonds payable differ from notes payable and how to account for the issuance of bonds at par at a discount
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