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Classify the ff. items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue, (d) accrued expense.
1. cash received for services not yet rendered. 2. supplies on hand. 3. utilities owed to be paid the ff. month. 4. taxes owed but payable in the next period. 5. a three-year premium paid on a fire insurance policy for the buildings. 6. cash received for use of land within the next six months. 7. fees earned to be received the following month. 8. rent expense owed but not yet paid. 9. subscriptions received in advance by magazine publisher. 10. fees earned but unbilled. 11. salaries owed but not yet paid. 12. rent revenue earned but not yet received. 13. insurance paid. 14. fees received but not yet earned. 15. unpaid wages.
1. comprehensive budgetingthe balance sheet of watson company as of december 31 20x1 follows.watson company balance
horowitz company is planning to produce 2000 units of product in 2012. each unit requires 3 pounds of materials at 6
Who might be stakeholders? Do you think it is almost inevitable that the requirements of different stakeholders can conflict in some way? Give an example.
grandpop and grandmom died and left 100mm to their 5 grandkids. the first kid started up a sole proprietorship with his
The land contributed by Ashley was encumbered by a $40,000 nonrecourse debt. Assume the partners share debt equally. Immediately after the formation, the basis of Ashley's partnership interest is:
Which of the following is an example of managing earnings up?
XYZ Company went out of business and was sold to pay off as much debt as possible. It showed the following information on its balance sheet. What, if any revenue will the shareholders receive?
The total amount of depreciation recorded against an asset or group of assets during the entire time the asset or assets have been owned:
Open up an IAS or IFRS a. What are the major organizational parts of the authority (placed in bold) b. Compare your answer in (a) to the major organizational parts of an IFRIC or SIC. c. Are (a) and (b) for the most part, the same If yes, how so If n..
assume for this part onlythat none of the 800 insurance expense had expired during theyear. instead assume it is a
dougs custom construction company is considering three new projects each requiring an equipment investment of 23320.
For each of the following independent cases, prepare the journal entry that was made to record the admission of Shaw into the partnership.
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