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Journalize the transactions June 5. Purchased additional office equipment on account from Crawford Company, $1,800. June 6. Received cash from clients on account, $800. June 10. Paid cash for a newspaper advertisement to run during June, $120. June 12. Paid Crawford Company for part of the debt incurred on June 5, $800. June 12. Recorded services provided on account for the period June 1 to June 12, $2,250. June 14. Paid part-time receptionist for 2 weeks' salary, $400. (Note: Ignore any payroll tax or withholdings). June 17. Recorded cash from cash clients for fees earned during the period June 1-16, $3,175. June 18. Paid cash for supplies, $750. June 20. Recorded services provided on account for the period June 13-20, $1,100. June 24. Recorded cash from cash clients for fees earned for the period June 17-24, $1,850. June 26. Received cash from clients on account, $1,600. June 27. Paid part-time receptionist for two weeks' salary, $400. (Note: Ignore any payroll tax or withholdings). June 29. Paid telephone bill for June, $130.
Bee Wood, Inc., a construction company, decides to build a new warehouse. The following information is applicable to the project: Construction will begin January 1, 2016, and is expected to end December 31,2017. How much interest must be capitalized ..
Under what circumstances is it appropriate to record goodwill in the accounts? How should goodwill, properly recorded on the books, be written off in accordance with generally accepted accounting principles?
Prepare the journal entries related to the contract.
Paid rent for May, $5,000. Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Paid freight on purchase of May 3, $600. Sold merchandise on account to Karman Co., terms 2/10, n/30, FOB shipping point, $68,..
During the past year, actual plantwide overhead was $385,000. Each department's overhead consists primarily of depreciation and other machine-related expenses. Selected budgeted and actual data from the St. Falls plant for the past year are as follow..
Various criteria will disqualify the deduction of a business or investment related expenditure. Which of the following criteria will not disqualify a business or investment expenditure?
JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,350,000. JRE2 recognizes revenue upon contract completion.
classification of cost in direct material direct labor overheads etc.using the code letters below indicate in the space
what does the term consolidation process mean? What is the purpose of a worksheet during the consolidation process?
Choose a well-known publicly traded company that none of your other classmates have chosen, and describe the operating segments reported (this information will be in the notes to the financial statements). Include a link to this financial statement i..
Which of the support cost functions would you expect to be the most reliable for explaining and predicting support - What do you think of American Micro Device's pricing method?
Determine the company degree of operating leverage. and Using the degree of operating leverage, estimate the impact on net income of a 5% increase in sales.
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