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If a check correctly written and paid by the bank for $626 is incorrectly recorded on the company's books for $662, the appropriate treatment on the bank reconciliation would be to do which of the following?
a) add $36 to the book's balance
b) subtract $36 from the book's balance
c) deduct $36 from the bank's balance
d) deduct $626 from the book's balance
My cost of goods sold for the month is ? And i found this using what type of inventory system?
Mohave Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $315,000. The estimated fair values of the assets are land $60,000, building $220,000, and equipment $80,000. At what amounts should each of the thre..
Do you believe this reduction in costs has substantially impaired the ability of these industries to meet the needs of their customers?
A company changes from straight-line to an accelerated method of calculating depreciation, which will be similar to the method used for tax purposes. The entry to record this change should include a:
Sheniqua, a single taxpayer, had taxable income of $73,239. Her employer withheld $14,077 in federal income tax from her paychecks throughout the year. Using the tax tables
The value of an investment can be described as equal to the present value of its future cash flows, discounted at an appropriate interest rate. Why does an investment near its maturity have insignificant risk of change in value because of changes ..
From an employer's point of view, what is preferred a defined contribution plan or a defined benefit plan. What are the cash ramifications as well as reporting requirements?
The company's accountant determined that an appropriate allowance of $9,000,000 should be established. Ignore income taxes. i) Is this a change in accounting principle, change in estimate, or a correction of an error?
would an increase in variable costs cause a company's break-even point to increase or decrease? why?
a) Journalize the transaction, events, and closing entries b) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts c) Prepare a retained earnings statement for the year d) Prepare a stockholders' equity section ..
Which of the following statements about internal control is incorrect, based on the COSO framework?
If the machine has no salvage value at the end of seven years, and assuming the company's discount rate is 10%, what is the purchase price of the machine if the net present value of the investment is $170,000?
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