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Natalie is thinking of repaying all amounts outstanding to her grandmother. Recall that Cookie Creations borrowed $2,000 on November 16, 2009, from Natalie's grandmother. Interest on the note is 9% per year, and the note plus interest was to be repaidin 24 months. Recall that a monthly adjusting journal entry was prepared for the months of November 2009 (1/2 month), December 2009, and January 2010.
Prepare the necessary general journal entries for the month of October for Stringer Company for each situation given below.
Often Board and other committee volunteers for nonprofit organizaations are compensated for expenses during travel and meetings. Some think that this attracts volunteers for the wrong reasons.
Barrett Corporation had 6,500 units of work in process on April 1. During April, 19,100 units were completed and as of April 30, 5,100 units remained in production. How many units were started during April?
On April 3, 2008, Mark filed his 2007 Income tax return, which showed a tax due of $80,000. On June 1, 2010, he filed an amended retrun for 2007 that showed an additional tax of $10,000. Mark paid the additional amount. On May 18, 2011, Mark filed..
Compute the depreciation deduction for the computer system in 2006 and the cost recovery recapture. Assume that in 2004, Elaine had instead expensed under Section 179 the cost of the computer system. Compute the cost recovery recapture in 2006.
Selected data from a February payroll register for Gerfield Company are presented below. Some amounts are intentionally omitted. FICA taxes are 8%. State income taxes are 3% of gross earnings.
Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
What are some advantage of issuing common stock as opposed to bonds? What are some disadvantages?
Given the quantity and total fixed and variable costs, compute the remaining costs the complete the following table.
A performance report for direct labor shows a variance between the budget and actual amounts. This difference is a:
TMI is a calendar year personal service corporation which reports income on a calendar year end basis. TML is also a personal holding company. TML had $125,000 of taxable income during the year. It is now December 31st.
Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.
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