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Bluestem Supply does not does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $8,988. All sales are subject to a 7% sales tax. Compute sales taxes payable.
Plot the monthly data and the regression lines for each of the following cost functions: Manufacturing overhead costs = a + (b x Machine-hours) and Manufacturing overhead costs = a + (b x Number of batches).
Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients. Your contract calls for acceptance of the software by the client within six months of..
What is the difference between procedural rules and substantive rules? Which are more important for the average person in society to know? Why?
Marlene, a cash basis taxpayer, invests in Series EE U.S. government savings bonds and bank certificates of deposit (CDs). Determine the tax consequences of the following on her 2016 gross income. On September 30, 2016, she cashed in Series EE bonds ..
At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted. Will asset for the year be overstated or understated?
Adams, peters, and Blake share Profits and losses for their APB Partnership in a ratio of 2:3:5. Prepare a cash distribution plan for the APB Partnership.
What is the total amount to be credited to Accrued Payroll in respect of July earnings?- what would be the balance in Accrued Payroll account at the close of business on July 31?
On January 1, 2016, Pat Corp acquired 80% of Sam Corp for $160,000 cash, which Pat controls as a subsidiary company. For the year ended December 31, 2016, Sam reported net income of $50,000 and paid dividends of $20,000. Prepare journal entry recorde..
Management's assessment of the operating effectiveness for the period from the beginning to the end of the fiscal year under audit. Identification of framework used for evaluating internal control.
You are evaluating audit results for assets in the audit of Roberts Manufacturing. You set the preliminary judgment about materiality at $50,000. The account balances, tolerable misstatement, and estimated overstatements in the accounts are shown nex..
What are two of the red flags that indicate that financial statement fraud may be occurring (try to choose two that have not already been identified)? For each red flag you identify explain why it is a red flag (don't simply provide a list of red ..
What amount should appear in the allowance for doubtful accounts in the December 31, balance sheet for the current year and How are the direct write-off method and the allowance method applied in accounting for uncollectible accounts receivables?
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