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Financial information related to the proprietorship of plexiglassinterior for october and november 2010 is as follows: october 31,2010 november 30, 2010 acc.payable $46,200 49,800 acc.receivable 102,000 117,375 capital ? ? cash 180,000 306,000 supplies 9,000 7,500
a- Prepare balance sheets for plexiglass interiors as of october 31and as of november 30, 2010.
b- Determine the amount of net income for november, assuming that the owner made no additional investment or withdrawals during the month.
c- determine the amount of net income for november, assuming thatthe owner made no addtional investments but withdrew $37,500 duringthe month.
Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Analyze why each factor is important and the risks of not considering each factor.
Kat Inc. holds 75% of the outstanding common stock of Rax Corp. Rax currently owes Kat $500,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be eliminated?
The head of the corporate tax division of a major public relations firm has proposed investing $295,000 in personal computers for the staff. The useful life and recovery period for the computers are both 5 years.
Prepare the journal entry for the issuance when the market price of the common shares is $ 168 each and market price of the preferred is 210 each. (Round to nearest dollar.)
Proposals L and K each cost $500,000, have 6-year lives, and have expected total cash flows of $720,000. Proposal L is expected to provide equal annual net cash flows of $120,000, while the net cash flows for Proposal K are as follows:
The Raw Materials Inventory account is 1. debited for purchase discounts taken. 2. debited for invoice costs and freight costs chargeable to the purchaser.
The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.
Calculate the amount of the unrealized loss shownon ZZ, Inc.'s 2007 income statement.
The sensitivity and importance of payroll and payroll information cannot be overstated. The managing and protecting of this information deserves and has the attention of any number of managers within an organization.
On Jan 1, 2002, Frost Company acquired all of TKK Corporation's assets and liabilities by issuing 24,000 shares of its $4 par value common stock. At that date, Frost shares were selling at $22 per share. Historical cost and fair value balance shee..
Accounts receivable of $138,000 were collected includingaccounts of $40,000 on which 2% sales discounts were allowed. Prepare all journal entries necessary to reflect the transactions above.
Neffer Services Inc. leases access to high-speed computers to small businesses. It provides the following information for the year.
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