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This is from the Systems Understanding Aid 8th Edition: I need to know what journal entires to make.
December 31 Sold 150 shares of Sohn Corporation common stock for $27.00 per share. The shares were originally purchased on July 11, 2013 for $21.00 per share plus a commission of $60. Central Brokerage retained a commission of $70 on the sale and forwarded check No. 4289 for the net sale proceeds to Waren.
* Calculate and record the gain or loss on the sale of the marketable securities.
* Be sure to consider the effects of both the purchase and sale commission expenses.
Indorsement of a negotiable instrument:
What is the effect on account balances when an adjusting entry to record an unrecorded receivable is made?
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a salvage value of zero, and is expected to increase net annual cash flows by $46,460. A discount rate of 9% is appropriate for both projects. Compute the net present value of each project.
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Journalize the April transactions using a periodic inventory system and using T accounts, enter the beginning balances in the ledger accounts and post the April transactions.
How much of the premium should be reported as expense on the 2009 income statement and what is the amount of prepaid insurance which should be reported on the balance sheet at December 31, 2009?
Cornick, Inc - sells computers. Each month the IT division prints monthly statements and sends them to accounts receivable, where each clerk e-mails them to the customers. Prepare a table of entities and activities for the Cornick, Use diagramming so..
Johnny Bravo Company began operations in 2012 and has provided the following information. Gross profit on construction contracts using the percentage-of-completion method for book purposes amounts to $92,000. Gross profit on construction contracts fo..
Could this lack of clarity in its financial reporting serve as a red flag in alerting you to the possibility of fraud at Enron?
What types of information would you utilize in performing a more complete analysis of Kroger's liquidity and evaluate the company's current ratio and quick ratio.
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