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An accountant made the following adjustments at December 31, the end of the accounting period:a. Prepaid insurance, beginning, $400. Payments for insurance during the period, $1,200. Prepaid insurance, ending, $700.b. Interest revenue accrued, $1,600.c. Unearned service revenue, beginning, $1,100. Unearned service revenue, ending $500d. Depreciation, $4,800.e. Employees' salaries owed for three days of a five-day work week; weekly payroll, $18,000.f. Income before income tax, $21,000. Income tax rate is $25%.Requirements1. Journalize the adjusting entries.2. Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments
CONSTRUCTIVE TRUSTS A constructive trust is a trust imposed by equity regardless of the intention of the owner of the property: it arises by operation of law. The concept has
Using CAPM's formula, Return on equity = Risk-free rate + Beta*(Expected market return - risk-free rate) With the given information, Return on equity = 1% + 1.7*(9% - 1%)
Q. Show Advantages of financial intermediation? The advantages of financial intermediation are as follows Investors are able to pool their funds in a bank deposit account to
1.discuss how the vat system works 2.list and explain the vat supply categories, provide examples in each category write as an essay of 500 words
Q. What is Contractor Ledger? Accounts relating to contractors should be kept as personal accounts in contractor's ledger and a separate folio should be opened in the Contracto
Tubby is a retailer that buys and sells handmade robotic toys. He buys a basic prototype and then programs it to do all sorts of unique tricks. The following information was provi
what managers should know about internal rate of return (IRR) and why?
The market value of a bond is equal to: The present value of all future cash payments provided by a bond The present value of all future interest payments provided by a bond The pr
1. Jepsen Corp had the following transactions relating to shares of stock: • Issued 1,000 shares • Purchased 100 shares • Re-issued 50 shares • Declared and distributed a 2-1 stock
how to prepare a overhead analaysis
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