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Corporate Financial Accounting Practice Set "My Place, House of Decor".
My Place, House of Decor - requires you to complete the accounting cycle for the months of January, February, March, April, and June, and the financial statements for the six months (January 1 to June 30).
check figures
January Analysis
Adjusted trial balance - $96,000
Total assets: $79,160February Analysis:
Adjusted trial balance - $122,600
Total expenses - $32,070March Analysis
Net income: $54,608
During its first year of operations a company had net sales of $3,250,000, wrote off $27,800 of accounts as uncollectible using direct write-off method, and reported net income of $487,500. Determine what the net income would have been if the allowan..
Journalize the adjusting entry for the inventory shrinkage for Retro Company for the year ended October 31, 2010. Assume that the inventory shrinkage is a normal amount.
Blank Co. acquired 25% of the 500,000 shares of outstanding common stock of Overload Inc. on December 31, 2014. The purchase price was $3,600,000. Overload declared and paid $1.20 per share cash dividends on June 18, 2015, and on November 29, 2015. O..
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What amount should be shown for this machine, net of accumulated depreciation, in the company's December 31, 2015 balance sheet?
In 2010, net income was $900,000 and dividends declared were $250,000. The tax rate is 40%. Prepare a 2010 retained earnings statement for Beidler Company.
An 8% change in variable costs should result in a 40% change in contribution margin. An 8% change in fixed costs should result in a 40% change in income. An 8% change in variable costs should result in a 40% change in break-even sales.
Determine the transfer price per pound of recycled aluminum. Consider that each division is considered a profit center; could the fabrication manager decide to purchase 10,000 pounds next month from Metalife?
computation of retained earnings using given information.during 2006 edgemont corporation had revenues of 230000 and
On November 4, 2012, Blue Company acquired an asset (27.5-year residential real property) for $200,000 for use in its business. In 2012 and 2013, respectively, Blue took $642 and $5,128 of cost recovery. These amounts were incorrect; Blue applied the..
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