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On August 10, 2012, the school district in exercise E4- 2 issued a purchase order for school supplies in the amount of $ 50,000. On August 20 the school supplies arrived, together with an invoice for $ 51,000. The invoice was approved for payment because the purchase order allowed for price increases up to 5 percent. The invoice was paid on August 30. Prepare the entries necessary to record the encumbrance, approval for payment of the invoice, and payment of the invoice.In exercise E4- 2Estimated RevenuesProperty taxes............ $ 3,600,000Investment income.......... 100,000Miscellaneous income......... 50,000AppropriationsAdministration........... $ 300,000Instruction............. 2,400,000Pensions, other benefits....... 350,000Transportation ........... 200,000Building maintenance ....... 150,000School supplies ............ 180,000Debt service........... 160,000All other expenditures ........ 70,000
question 21 figure 4-1. foster company makes power tools. the budgeted sales are 420000 budgeted variable costs are
the following information pertains to sampson company. assume that all balance sheet amounts represent both average and
tranter inc. is considering a project that would have a ten-year life and would require a 1200000 investment in
beth and ben are equal partners in the bb partnership formed on june 1 of the current year ben contributed land that he
the holtz corporation acquired 80 percent of the 100000 outstanding voting shares of devine inc. for 7.50 per share on
Compute the amount to be reported as research and development expense by Martinez on its income statement for 2010. Assume equipment is purchased at beginning of year.
A man has a simple discount note at $6,200 at an ordinary discount bank rate of 8.48% for 40 days; what is the effective interest rate?
Hilton and Winona B. Taxpayer will file a joint federal income tax return. Hilton, age 55, is a hotel manager. Winona, who is 54, is a vice president of a small accessory supplier. The couple comes to you in early December seeking tax advice.
The company's December 31, 2009 unadjusted balance of liability for compensated absences was $30,000. The company estimated 200 vacation days available and employees earned $150 per day. What is the liability for compensated balances on December 3..
addy company has two products a and b. the annual production and sales of product a is 2600 units and of product b is
although estimates vary it is suggested that 80 or more of the job openings that exist are in the hidden job market.
Determine the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements.
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