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Jackie received a $30,000 cash advance payment on June 1, 2013, for consulting services to be performed in the future. Services were to be provided for a one-year term beginning June 1, 2013.Required:
a. Record the June 1 cash receipt in T-accounts.
b. Record in T-accounts the adjustment required as of December 31, 2013. c. Record the preceding transaction and related adjustment in a horizontal statements model like the following one:
d. Determine the amount of net income on the 2013 income statement. What is the amount of net cash flow from operating activities for 2013?
e. What amount of liabilities would Jackie report on the 2013 balance sheet?
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Classify the cash flows from these transactions as operating activities (OA), investing activities (IA), or financing activities (FA). Use NA for transactions that do not affect the statement of cash flows.
Violet Corporation issues 1,200 shares of $150 par value preferred stock at a price of $200 per share. It attaches a warrant to each share of stock that allows the holder to purchase one share of $20 par common stock at $50 per share.
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administrative expenses as either variable or fixed
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What is a relation, and what is its importance to relational databases?
1.marjorie jewels a maker of fashionable rings produced and sold 6000 rings during the recent accounting period. the
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