In december 2008 ace consulting performed services for a

Assignment Help Accounting Basics
Reference no: EM13600388

In December, 2008, Ace Consulting performed services for a customer for $12,000 on account. On June 1, 2009, after several unsuccessful attempts to collect, Ace replaced the customer's account receivable with a 6% note, due and collected in full on January 31, 2010. Ace's accounting year end is December 31.

Required: Prepare all necessary journal and adjusting journal entries for Ace Consulting for 2008, 2009 and 2010

 

Reference no: EM13600388

Previous Q& A

  Cash paid to suppliers during the year amounted to 677000

for each of the following items calculate the amount of revenue or expense that should be recognized on the income

  Andretti company has a single product called dak the

andretti company has a single product called dak. the company normally produces and sells 60000 daks each year at a

  Management is attempting to maintain an overhead rate of

management is attempting to maintain an overhead rate of 175 for an assembled product. the problem area is the

  Motorola inc fired its cfo paul liska in january for a

motorola inc. fired its cfo paul liska in january for a number of reasons related to his performance as stated by

  Prepare a statement of cash flows using the direct method

the comparative balance sheet of green earth lawn and garden inc. for december 31 2008 and 2009 is as follows assets

  Wernett corporations net income for the most recent year

wernett corporations net income for the most recent year was 1509000. a total of 200000 shares of common stock and

  Declared cash dividends of 150 per share on preferred stock

ccounting 232 edition 24 pr13-3a page 616 the following selected accounts appear in the ledger of patton

  A company leases some of the equipment it uses the lease

a company leases some of the equipment it uses. the lease term is 5 years and the lease payment are to be made in

  Te principle managers follow when they only investigate

the principle managers follow when they only investigate significant departures from the plan is commonly known as

  The milwaukee recreation center is planning its annual

the milwaukee recreation center is planning its annual fundraiser. the event committee has developed the following

Reviews

Write a Review

 

Similar Q& A

  Fionnula co uses a periodic inventory system its records

fionnula co. uses a periodic inventory system. its records show the following for the month of may in which 65 units

  Joan paxton vp of marketing for supertone recording

joan paxton vp of marketing for supertone recording equipment has developed a marketing plan for presentation to the

  Problem regarding property taxes

On July 1, 2009, Cheryl pays the entire real estate tax of $5,475 for the year ending December 31, 2009. a. How much of the property taxes may Phil deduct?

  On january 2 the first working day of the new fiscal year

simple plant manufactures dna test strips. manufacturing overhead is applied to units produced using direct labor

  The balance in the insurance expense account of the

the balance in the insurance expense account of the worksheet was 355. the journal entry to close the insurance expense

  Research the following questions and give authoritative

research the following questions and give authoritative support for your answer1. the accounting supervisor of

  Aspects of the tax law

Discuss the probable justification for each of the following aspects of the tax law

  What is the lifo reserve

What is the LIFO reserve, and why would an analyst be careful in interpreting the earnings of a company that has liquidated some of its LIFO reserve?

  In 2013 lisa and fred a married couple have taxable income

in 2013 lisa and fred a married couple have taxable income of 545000. if they were to file separate tax returns lisa

  Computing budgeted purchases for fourth quarter

A Company forecasts sales of $91,500 for the quarter ended December 31. Its gross profit rate is 18% of sales, and its September 30 inventory is $25,000. If the December 31 inventory is targeted at $7,500, budgeted purchases for the fourth quarter..

  Absorption costing total operating income

Dewiel Corporation manufactures a variety of products. The following data pertain to the company's operations over the last two years: What was the absorption costing net operating income last year?

  Prepare a monthly cash budget showing estimated cash

a company is negotiating with the bank for a 200000 90 day12 loan effective july 1 of the current year. if the bank

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd