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Prepare journal entries to record the following transactions and events applicable to the calendar year 2013 operations of Lily City1.The approved budget for the year follows:Estimated RevenuesProperty tax revenues....... $ 600,000Licenses and fees ....... 30,000AppropriationsPublic safety salaries....... $ 550,000Public safety, other expenditures.. 90,0002.Property taxes of $ 600,000 were levied, and bills totaling that amount were mailed at the beginning of the year. During the year, $ 590,000 of property taxes were collected. Licenses and fees collected amounted to $ 28,000.3.Salaries paid during the year amounted to $ 580,000; police officers earned an additional $ 12,000 during December that will be paid in January.4.Purchase orders for supplies were placed in the amount of $ 60,000. The entire amount ordered was received during the year, together with invoices totaling $ 56,000. The invoices were approved for payment.
in 2011 seven seas sold 20000 worth of merchandise on account. its accountant estimated that 400 of the amount would be
Identify which of the following are expensed as incurred, amortized, or tested for impairment.
In the current year, Hanna Company reported warranty expense of $196,000 and the warranty liability account increase $13,000. What were warranty expenditures during the year?
you are employed by freedom company a manufacturer of digital clocks. the companyrsquos cfo is trying to verify the
while examining cash receipts information the accounting department determined the following information opening cash
In April 2006, ABC Motors had Total Sales of $100,000; Total Expenses of $60,000 and a beginning balance of Retained Earnings of $25,000. The company will pay a $10,000 dividend this month (the dividend was declared this month as well). What is th..
Journalize May transactions. post entries to general ledger, Prepare trail balance ,Prepare income statement, owners' equity statement and balance sheet.
for each individual situation determine the amount that should be reported as cash. 1. checking account balance 937640
three rivers dental associates trda is a large dental practice in pittsburgh. the firms controller is preparing the
the national credit union has 250000 available to invest in a12-month commitment. the money can be placed in treasury
Research and locate the business information of an energy company. The investigation team has assigned to you the task of identifying databases that are repository of public records, and that may be used for investigating the following:
Compute the earnings per share of common stock assuming the dividend on preferred stock was not declared and the preferred stock is cumulative. The common shares remained unchanged during the year.
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