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Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customer pay a deposit for each container received. The deposits forfeited were $35,000.
Required:
Prepare the appropriate journal entries for the depositis received and returned during 2011.
Determine the liabiltiy for refurndable deposits to be reported on the December 31, 2011, balance sheet.
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outgrown her father's accountant and requires having new ideas to help her save tax dollars so she will reinvest more money in the business. prepare and expects to add six more locations in each of the next two years.
What are International Financial Reporting Standards
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