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1. During the taking of its physical inventory on December 31, 2010, Euro Bath Company incorrectly counted its inventory as $496,000 instead of the correct amount of $480,000. Indicate the effect of the misstatement on Euro Bath's December 31, 2010, balance sheet and income statement for the year ended December 31, 2010.
e-Business and e-Commerce
Lynn Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Lynn, but the table legs are purchased from an outside supplier.
astro corporation a furniture manufacturer uses an activity-based costing system. it has identified the following
During 2014, 24,000 barrels of oil were produced and 18,100 barrels were sold. Which of the following statements is correct with respect to the accounting for the oil well?
Gilly Construction trades in an old tractor for a new tractor, receiving a $ 29,000 trade in allowance and paying the remaining $ 83,000 in cash.
Upland Company borrowed $40,000 on November 1, 2010, by signing a $40,000, 9%, 3-month note. Prepare Upland’s November 1, 2010, entry; the December 31, 2010, annual adjusting entry; and the February 1, 2011, entry.
standard lathe high speed latheoriginal cost new................. 40000 60000accumulated depreciation to date 10000
brown company produces fine leather footballs. the standard cost for each football is direct material 2 feet of leather
in the restin company maintenance costs are a mixed cost. at the low level of activity 160 direct labor hours
Suppose Green has been using the straight-line method and switches to the sum-of-the-years'-digits method. Ignoring income taxes, what journal entry(s) should Green record relating to the machine for 2011?
in september one of the processing departments at shenkel corporation had a beginning work-in-process inventory of
tundra electronic company sends appliances to dealers on a consignment basis. the selling price per unit is 920 and the
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