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Accrued salaries of $4950 owed to employees for December 30 and 31 are not comsidered in preparing the financial statements for the year ended Decenber 31, 2010. Indicate which items will be erroneousl stated, because of the error, on
a) the income statement for December 2010 and
b) the balance sheet as of December 31, 2010 also indicate whetehr the items will be in error will be overstated or understated.
reichenbach co. organized in 2011 has set up a single account for all intangible assets. the following summary
a building with an appraisal value of 129188.00 is made available at an offer price of 158591.00. the purchaser
Ron's Hot Rod Shop follows the revenue recognition principle. Ron services a car on July 31. The customer picks up the vehicle on August 1 and mails the payment to Ron on August 5. Ron receives the check in the mail on August 6. When should Ron sh..
On june 30, 2012, mackes company issued 5,000,000 face value of 13%, 20 year bonds at $5,376,150, a yield of 12%. Mackes uses the effective-interest method to amortize bond premium of discount. the bonds pay semiannual interest on june 30 and dece..
use the following information for first corp. complete the statement of cash flows indirect method for the year ended
for each of the following cases indicate why management and the auditors determined that control
the morris corporation has 1000000 of debt outstanding and it pays an interest rate of 9 annually. morriss annual sales
48 capital gains and losses. consider the four independent situations below for an unmarried individual and analyze e
Prepare the adjusting entry required on June 30, assuming July 1 falls on a Tuesday.
annual interest of 5 paid if balance exceeds 800 7 monthly fee if account falls below minimum balance average monthly
the cost formula for the maintenance department of rainbow. ltd. is 19400 per month plus 7.7 per machine hour used by
Sweet Dreams manufactures candy. Its records revealed the following.
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