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On March 1, it was discovered that the following errors in the journalizing and posting transations:
A. The receipt of $8,350 for services rendered was recorded as a debt to accounts receivable and a credit to fees earned the purchase of supplies of $3100 on account was recored as a debit office equipment and a credit to supplies. Journalize the entries on March 1 to correct the errors. Use two entries to correct the error described in (b). (That is, record an entry to reverse the incorrect entry and a second entry to record the correct entry.) Refer to the Chart of Accounts for exact wording of account titles.
Discuss the different compensation plans that a business could offer their employees. Many employees offer incentive plans to their employees. Discuss some of the options for incentive plans.
Compute the fixed asset turnover for each company and which company uses its fixed assets more efficiently? Explain.
Describe Microsoft's overall reporting strategy. Why had the company adopted this strategy and why was the SEC concerned about it?
big co. acquired 1000 shares of voting stock in little co. for 100000 cash. little co. presently has 10000 shares of
Jonas, the sole shareholder of Emerald Corporation, wants to better understand the implications of this adjustment for E & P purposes, as he anticipates a distribution from Emerald in the current year. Prepare a memo for your firm's client files ..
On October 31, 2016, the balances of the accounts appearing in the ledger of Prestige Furnishings Company, a furniture wholesaler, are as follows: Prepare a multiple-step income statement for the year ended October 31, 2016. Be sure to complete the ..
Accounts Receivable of the Chalet Housing Co. on December 31, 2013, had a balance of $550,000. Allowance for Bad Debts had a $4,500 debit balance. Sales in 2013 were $3,450,000 less sales discounts of $51,000. Give the adjusting entry for estimated B..
Common stock as a long term investment. Steig. Corporation uses the equity method of accounting for this investment.
accounting treatment for payroll in a company.a companys payroll for the week ended may 15 included earned salaries of
Prepare an amortization schedule using the effective interest method. Be sure to adjust the last payment's interest, up or down, so that the bond carrying value equals $50,000,000.
Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2014, new technology was introdu..
Multiple Choice Questions Amortization, impairment of intangibles - what amount should be reported as amortization expense
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