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Palmona Co. establishes a $ 200 petty cash fund on January 1. On January 8, the fund shows $ 38 in cash along with receipts for the following expenditures: postage, $ 74; transportation in, $ 29; delivery expenses, $ 16; and miscellaneous expenses, $ 43. Palmona uses the perpetual system in accounting for merchandise inventory.
Prepare journal entries to :
(1) Establish the fund on January 1, (2) Reimburse it on January 8, (3) Both reimburse the fund and increase it to $ 450 on January 8, assuming no entry in part 2.
Sudoku Company issues 23,000 shares of $5 par value common stock in exchange for land and a building. The land is valued at $232,000 and the building at $374,000. Prepare the journal entry to record issuance of the stock in exchange for the land a..
The ratio of their initial capital investments, which they have agreed will be $32,000 for Baker and $48,000 for Farney - proportion to the time devoted to the business;
Identify the type of lease involved for the lessee and the lessor, and give reasons for your classifications.
Prepare the general journal entries that should be made in 2010 and 2011 related to the above plan by Paige Candy.
the general manager of qantas had two concerns the companys worsening cash position 3000 cash and no bank loan at the
A company that has a fiscal year-end of December 31: (1) on October 1, $31,000 was paid for a one-year fire insurance policy; (2) on June 30 the company lent its chief financial officer $29,000.
Prepare the journal entries to record the transactions in July using normal costing, Calculate the over applied or under applied overhead for July. Utilize the proration method to prepare a journal entry to close this balance, Prepare a schedule of ..
There are three inventory control accounts in a job order system. Identify the control accounts and their subsidiary ledgers.
Prepare an incremental analysis whether the company should make or buy the electrical cords. (b) Will your answer be different if the released productive capacity will generate additional income of $5,000?
1. under which of the following conditions would it be appropriate to use a binomial random variable? in each case
Market research indicates that if Americas were to drop its selling price to $3.70 per unit, it could sell 100,000 units. Would you recommend the drop in price? What would the new operating income or loss be?
Calculate the total manufacturing cost and the cost per unit for the month of August.
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