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Practice questions:
Construct a trial balance from the following list of balances taken from the accounts of Jeans Farm Eggs, calculating the figure for capital:
£
Purchases 17.500
Bank 13.500
Sales 16.800
Equipment 24.000
Vehicles 21.000
Offices expenses 2.000
Capital ?
Prepare journal entries and t accounts, what is asked of me is follows: earned 208,000 in revenue, including 52,000 on credit and the rest in cash.
In the month of March, Style Salon services 660 clients at an average price of $160. During the month, fixed costs were $21,700 and variable costs were 65% of sales. Determine the contribution margin in dollars, per unit, and as a ratio. Using the co..
David and Doris Kelley were divorced on February 3, 2014. They lived apart during 2014. The divorce decree required David to make the following payments: Transfer full title to their jointly owned family home to Doris. Fair market value of the home i..
McGrath's produces and sells two types of t-shirts - Fancy and Plain
Under a general partnership, each partner is considered an agent of a general partnership and is liable for. How will Chip and Dale split the net income/loss?
Prepaid expenses- insurance - Use the horizontal model or write the journal entry to record the payment of a one-year insurance premium of 3,000 on March 1.
Investigate how the concepts of dividend policy, cost of capital, and other aspects of corporate financial management theory learned in this course affect the financial profile of the firm your group has selected.
What is the company's break-even point in total sales dollars? At the break-even point, how much of the company's sales are provided by each type of service?
Calculation of book value of machine - what will be the machine's book value as of December31, 2008?
Gore elected to expense $150,000 and to use straight-line depreciation which will allow a cost recovery deduction of $120,000 for 2015. Assume a present and future enacted income tax rate of 30%
Which classification of expenditures would be the following scenario? The general fund receives an electric bill for the entire government. The General fund paid the bill.
The payment of utilities of $3,700 was recorded as a decrease in cash of $3,700 and a decrease in retained earnings (utilities expense) of $7,300.
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