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You are engaged to audit the Ferrick Corporation for the year ended December 31, 2011. Only merchandise shipped by the Ferrick Corporation to customers up to and including December 30, 2011, has been eliminated from inventory. The inventory as determined by physical inventory count has been recorded on the books by the company's controller. No perpetual inventory records are maintained. All sales are made on an FOB'shipping point basis. You are to assume that all purchase invoices have been correctly recorded.
The following lists of sales invoices are entered in the sales journal for the months of December 2011 and January 2012, respectively.
Prepare necessary adjusting entries for the following events. (Omit the "$" sign in your response.)
in its accrual-based income statement for the year ended december 31 2011 dart company reported revenue of 1750000.
you are the controller for an architectual firm whose accounting year ends on december. as part of the management team
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Charley Company's Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. There are 9,000 units in ending work in process, all of which are 70% complete as to conversion costs. How much are total costs to be assig..
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On January 2, 2010, Quo, Inc. hired Reed as its controller. During the year, Reed, working closely with Quo 's president and outside accountants, made changes in accounting policies, corrected several errors dating from 2009 and before, and institute..
Journalize all transactions for Jo Jo Music. Round all amounts to the nearest dollar. (For notes stated in days, use a 360-day year.)
inez butler is the sole shareholder of pelican inc. which owns car dealerships. pelican purchases the assets of a
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