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What is the main distinction between perpetual and periodic inventory systems? Which type of system provides better internal control over inventory? Explain why.
Young corporation issued 2,000 shares of $25 par value common stock and 300 shares of 13% par value preferred stock for cash at par value. How do i record the journal entry?
Is the CYO a not for profit or a government organization? Why? What changes in characteristics would be needed to change it from one type of entity to the other?
Lake Coffee Company reported net income of $54,000 and net sales totals $800,000. The company's asset turnover ratio is 4.5 times. How much was the company's return on assets?
the thomlin company forecasts that total overhead for the current year will be 15000000 and that total machine hours
on may 1 2010 newby corp. issued 634100 5 5-year bonds at face value. the bonds were dated may 1 2010 and pay interest
James purchased a new business asset (three-year property) on July 23, 2009, at a cost of $50,000. He did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Determine the cost recovery deduction for 20..
your client a physician recently purchased a yacht on which he flies a pennant with a medical emblem on it. he
Prepare the necessary journal entry to closed the overhead account if the balance is considered immaterial.
at the end of 2013 an error was made in the physical count of inventory at carter corporation which resulted in ending
Prepare entries in general journal form to record the transactions for the quarter ended June 30, 2013.
small motors inc which is currently operating at full capacity has sales of 29000 current assets of 1600 current
Prepare a bank reconciliation statement at 31 March 2013. Prepare journal entries (in general journal format) to bring the business' records up to date.
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