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Essay Petra industries have a fiscal year (FYE) of May 31. Prepare the adjusting entries for the 2008 (FYE) based on the following data.
a. The balance in office supplies before adjustment is $4,200. A physical count reveals $3,350 of supplies on hand at financial year end.
b. A computer was purchased at the beginning of the (FYE) for $23,000. The computer has a useful life of 4 years and a $3,000 salvage value. Use the straight line method to calculate depreciation.
c. A three year insurance policy costing $3,960 was purchased on Sept. 1st 2007.
d. Employee's salaries are owed for 2 days of a regular 5 day work week. Weekly payroll $8,700.
e. Unearned Maintenance Revenue has a balance of $19,000 before adjustment. Record show that $6,515 of that amount has been earned by FYE.
The consumer price index just increased by 5% increasing the par value of the bond to $1,050. What is your interest payment considering this change?
Discuss the relationship between the amounts on the adjusted trial balance for an account and its ledger. Discuss relationship of the adjusted trial balance and the amount on the financial statements.
How much can be lent now if $12,000 will be repaid at the end of four years? (b) How much will be required in five years to repay a $30,000 loan received now?
question shirt company manufactures shirts for sale to retail stores. mai shirt co.s controller is becoming more
Prepare the journal entry to record the issuance of the shares. Elucidate how recording the share issue costs differs from the way debt issue costs are recorded.
Record all of the applicable acquisition - construction entries for each of these assets.
Compute the total cost of the work in process inventory on January 31 and compute the cost of jobs completed during January, and present the proper journal entry to reflect job completion.
What should company report on its balance sheet at December 31, 2010, as accounts receivable before the allowance for doubtful accounts?
What is the relationship between economies of scale and a natural monopoly? Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing output?
A supplemental retirement fund of $200,000 is desired in 20 years. How much money should be set aside at the end of each month if the interest rate is 1% per month.
Perform vertical analysis on the income statements and balance sheet information for fiscal periods 2011 and 2010.
tamra corp. creates one product line. in february 2013 tamra paid 530000 in factory overhead costs. of that amount
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