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Create a journal entry and a T-account entry for each of the following transactions:
a. $30,000 worth of supplies purchased with cash
b. $10,000 worth of supplies used to provide clients with goods and services
c. Wages due to employees that had been previously recorded as a liability now paid in cash in the amount of $50,000
d. Bills submitted to insurance companies in the amount of $90,000 for services rendered to patients
e. Cash payments of $60,000 recieved for services previously provided and billed
f. $5,000 worth of additional supplies purchased on account.
Include a discussion about problem areas that could arise, assuming that you will eventually have many more clients and several more employees
What happens if a company is completely wrong and they lose a huge lawsuit from actions from a prior period. Should they go back and amend that prior year to show the estimated liability? Why or why not?
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cristin is an new controller at solequin corp. she was asked to develop the predetermined overhead rate for the
From the lessee's viewpoint, what kind of lease is the above agreement? From the lessor's viewpoint, what kind of lease is the above agreement?
Identify a publicly held multinational company of your choice. Research its filings to the SEC, particularly the 10-K and 10-Qs. Also, examine its annual report online. Then, answer the following questions
Discuss how the deferred tax liability will impact Obadiah Vineyards cashflow in the short term? Long term?
David is admitted to an existing partnership. Several partnership debts and obligations have become due. With regards to ONLY those debts and obligations arising AFTER David joined the partnership.
The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of common from retained earnings is 11.25%, and the tax rate is 40%. The firm will not be issuing any new common stock. What is Quigley's WACC? show your calcula..
What are the equity method journal entries typically recorded by a parent company? Provide examples in your response.
Which of the follwoing statemetns is true when referring to fixed costs? 1. Committed fixed costs arise from the annual decisions by management. 2. As volume increases, unit fixed cost and total fixed cost will change.
Gains and losses appear on which of the financial statements listed below?
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