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Problem 1: Epsilon Corporation has unadjusted cash in bank balances of P1,000,000 and P900000 at the beginning and end of the month, respectively. Book debits totaled P1,800,000. An analysis with recent bank statements showed deposits in transit of P350,000 at the start of the month, deposits in transit of P220,000 at the end of the month, outstanding checks of P80,000 at the beginning of the month, and outstanding checks of P70,000 at the end of the month. Credit memos were P200,000 last month while it is P50,000 for this month. Bank service charge totaled P30,000 last month. A P120,000 customer check deposited this month was returned by the bank due to insufficient fund. How much is the unadjusted total bank credit for the month?
Which anomaly to the efficient market hypothesis documented by BALL and Brown (1968)? post earning-accounting drift. / the accruals anomaly
company doesn't ring up sales taxes separately on cash register total receipts for october amounted to $18900. if sales tax rate is 5%, what amount must be remitted to the state for October's sales tax?
The company rate of income tax was reduced from 40% to 35%. The adjustment to income tax expense to recognise the impact of the tax rate change is
Sissac Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $450 per month plus $105 per job plus $25 per meal. A typical job involves serving a..
In connection with this contract, Mill incurred $2,000,000 of construction costs during 1996. Mill billed and collected $3,000,000 from Drew in 1996. Illustrate what amount should Mill recognize as gross profit for 1996?
Ollie Mace is the controller of SDC, an automotive parts manufacturing firm. Its four major operating divisions are heat treating, extruding, small parts stamping, and machining. Last year’s sales from each division ranged from $150,000 to $3,000,000..
How much property tax revenue should be reported by the general fund on the statement of revenues, expenditures, and changes in fund balances prepared for the year ended December 31, 2011?
Provide a summary to the partners, outlining the advantages and disadvantages of forming the business as a partnership and the advantages and disadvantages of forming as a corporation.
Comfy Home should decrease the expected life of the patent so that it amortizes the value of the patent more quickly.
Gonzalez Electric Company has outstanding a 10 percent bond issue,What price per bond should Suresafe be able to realize on the sale?
The interest rate in the Eurodollar market is related to
Determine What The proper adjusting entry is? During the current accounting period, Malibar Farms Company paid $2,000 for advertising services
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