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Complete the following worksheet for Danilo Enterprises.Danilo EnterprisesWorksheetFor the Year Ended December 31, 2010
Adjusted Trial Balance
Income Statement
Balance Sheet
Account Title
Debit
Credit
Cash
14,500
Accounts Receivable
7,500
Supplies
500
Equipment
20,500
Accumulated Depr-Equip
15,000
Accounts Payable
9,500
Wages Payable
3,060
Tony Danilo, Capital
18,240
Tony Danilo, Drawing
1,000
Fees Earned
34,000
Wages Expense
18,000
Rent Expense
9,300
Depreciation Expense
8,500
Totals
79,800
Net Income (Loss)
A machine costing Rs. 10.0 million and having book value of Rs. 6.5 million was traded-in with another machine having a fair market value of Rs. 7.0 million with an additional cash payment of Rs. 1.0 million. what will be the accounting entry?
Over the past year, you earned 11.9% overall on your investments. During that period, the inflation rate was 2.3% and the risk-free of risk-free rate of return was 3.2%. What real rate of return did you earn?
For purposes of this question, assume that the excerpts from the Powers Report shown in Exhibit 3 are accurate descriptions of Andersen's involvement in Enron's accounting and financial reporting decisions.
Indicate the effect of each of these errors on working capital, current ratio (assume that the current ratio is greater than 1), retained earnings, and net income for the current year and the subsequent year.
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Eagle Corporation owns stock in Hawk Corporation and has taxable income of $233,000 for the year before considering the dividends received deduction. Hawk Corporation pays Eagle a dividend of $300,000, which was considered in calculating the $233,..
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Among its 5,000 employees were 165 youngsters aged 14 and 15 who worked full-time during the day and were paid at a rate less than the minimum wage. Which statement is true in accordance with the general rules of the Fair Labor Standards Act?
alpha electronics can purchase a needed service for 90 per unit. the same service can be provided by equipment that
Ralite Company had net income for the year of $20 Million. It had 2 Million sharees of comon stock outstanding, with a year-end market price of $82 a share. Dividends during the year were $5.74 a share.
Bonds payable has a balance of $1,000,000 and premium balance of $7,000. IF the issuing corporation redeems the bonds at 101. what is the amount of gain or loss on redemption?
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