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Blue Co., an architectural firm has a bookkeeper who maintains a cash receipts and disbursement journal. At the end of the year they want to convert the cash receipts and disbursement into accrual basis revenues and expenses. Cash receipts are as follows; Cash sales - $150,000 Colections on AR - 450,000 Bank Loan - 90,000 Total 690,000 AR end of yr - 210,000 AR start of yr - 160,000 cash sales include $60,000 of prepayments for services to be provided over the next 36mths.
a. Compute the company's accrual gross income for 2012. b. Would you recommend Blue to use the cash or accrual basis method? c. The company does not maintain an allowance for uncollectible accounts. Would you recommend that such allowance be established for tax purposes? EXPLAIN.
What is unit manufacturing cost of A &B by using the currentoverhead ? What is unit manufacturing cost of A&B using ABC? isthe cost of A overstated/understated? how? - mathematically explain
Determine the amount of interest to be capitalized in 2007 in relation to the construction of the building. Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if an, at Dec. 31, 2007.
Beck Company is concerned about quality and is considering upgrading the materials used in its product to a higher quality. Doing so would cost an additional $1.65 per unit.
Calculate the gross wages of each worker for Week 4. Show clearly the basic pay, overtime pay and bonus pay; Using the answer in (a), analyze the total gross wages of the workers into Direct Wages and Indirect Wages;
Total 2008 gift of life insurance policy is 72,000. annual exclusions are 24,000 (two donees at 12,00). Current taxable gifts equal 48,000.
an auto plant that costs 220 million to build can produce a line of flexfuel cars that will produce cash flows with a
What dividends are the preferred stockholders entitled to receive in the current year before any distribution is made to common stockholders?
Williamson Group operates a chain of bookstores. A recent business expansion plan resulted in the opening of more than 25 new stores. The Upland store has one more feature that the Stowe store does not have-a small coffe shop.
1. when constructing criteria for a query you should use no delimiters for number data types.quotes to enclose datetime
Sept. 6 Purchased calculators from Green Box Co. at a total cost of $2,441, terms n/30. Journalize the September transactions.
the approach of going green is a good example of the firms social responsibility in addition to demonstrating the
the following data apply to superior auto supply inc. for may 2012.1.balance per the bank on may 31 8000.2.deposits in
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