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On January 1st 2016, Pilot received an order for internet service from ACME Co. ACME orders a 1Gbps plan with Pilot, paying $2,000 upfront via credit card. This payment includes $1,000 first month service payment and another $1,000 installation / activation fee. ACME’s service is month to month, with no annual contract. ACME is activated by a Pilot installation team on March 17th, 2016. What would the accounting treatment (debits and credits) associated with this transaction be: On January 1st, 2016. On March 31st, 2016. If ACME cancelled their Pilot service on February 17th, 2016 (before it’s installation), what would the proper accounting treatment (debits and credits) associated with this transaction be?
The dean of the School of Fine Arts is trying to decide whether to purchase a copy machine to place in the lobby of the building. The machine would add to student convenience, but the dean feels compelled to earn an 10 percent return on the investmen..
December 31, 2008, amounts owed to publishers for books purchased, $8,000; one-year note payable to a local bank for $2,850. No dividends were declared or paid to the stockholders during the year - complete the balance sheet at December 31, 2009.
choose a publicly traded company involved in a merger or acquisition transaction that occurred in the last five years
Journalize the transactions for 2008 under the allowance method, presuming that the allowance account had a beginning balance of $18,000 and the company uses the analysis of receivables method.
Simth company reported $ 350,000 in book income before income tex during 2015, its first year of operation. The tax depreciation exceeded its book depreciation by $ 30,000. The tax rate for 2015 and future years was 4%. what amount of deffered income..
Discuss and compare them with the contents discussed in sample assignment. The sample assignment was marked half because of one company so plz select two companies.
questionchoose your state or local government and research the major funds .what are the major funds of your state or
After the 2011 financial statements were issued, Haft received and accepted an IRS settlement offer of $275,000. What amount of accrued liability should Haft have reported in its December 31, 2011 balance sheet?
Kimm Company has gathered the information shown below about its product. Direct materials. Each unit of product contains 3.10 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.70 pounds. Compute Kimm’s..
The last two columns contain the adjusted trial balance as of the same date.
Calculation of payment made to vendors and Compute the following (and show your work to earn partial credit in the event your responses are incorrect):
The franchising arrangement has no reliably identifiable market value. However, it is expected to generate future cash flows at least equivalent to the carrying value in the above statement of financial position.
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