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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,650, terms n/30. 9 Paid freight of $50 on calculators purchased from Dragoo Co. 10 Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications. 12 Sold calculators costing $520 for $690 to Fryer Book Store, terms n/30. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34. 20 Sold calculators costing $570 for $760 to Heasley Card Shop, terms n/30. Instructions Journalize the September transactions.
The annual interest rate on the mortgage payable was 7.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. What should the correct adjusting entry b..
You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly descrube the steps you might take.
On January 1, 2010, Branson Designers issued $900 Million of its 8% bonds $836 million. The bonds were then prices to yield 10%. The interest will be payable on June 30 and December 31.
a virtual company just hired you. your salary your reputation and your grade are all dependent on the job you do.a.
identify whether the following items increase decrease or have no impact on cash flows?increase in raw
jessica nekton received 150000 from her mothers estate. she placed the funds into the hands of a broker who purchased
For both companies, as of the end of 2009, the existence of a LIFO reserve demonstrates that LIFO inventory is less than it would have been if FIFO had been used. For both companies, compute the ratio of LIFO inventory/FIFO inventory for 2009 endi..
tlc corp. is considering purchasing one of two new diagnostic machines. either machine would make it possible for the
write 5 pages essay on ifrs and gaap convergence in which1.describe what accounting convergence means and assess the
Describe how the following business transactions affect the three elements of the accounting equation.
three rivers dental associates trda is a large dental practice in pittsburgh. the firms controller is preparing the
Trent files his tax return 35 days after the due date. Along with the return, Trent remits a check for $8,000, which is the balance of the tax owed.
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