Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The Motor Vehicle Repair Fund of Laramee County provides centralized repair for county-owned vehicles. For the following summarized transactions and events for the year ended June 30, provide the fund level entries in general journal form required to conform to generally accepted accounting principles. If no entry is needed, so indicate. 1) The Motor Vehicle Repair Fund ordered supplies at an estimated cost of $92,000. 2) The supplies ordered in (1) above were received at invoice costs of $91,400; these invoices were approved for payment. 3) Supplies costing $800 were used to repair a police car, and the Motor Vehicle Repair Fund billed to the General Fund at a mark-up of 20 percent on cost. 4) Expenses paid in cash during the year were: purchasing, $5,700; warehousing, $7,100; and general and administrative, $6,200.
At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's receivable from Novinger Inc-Make the journal entries to record the payment.
How much income must Dave report for the tax year and what is the character of the income? What is Dave's basis in his partnership interest at the end of the tax year?
They made major capital improvements through their 10-year ownership, which totaled $50,000. What is their recognized gain
Maine Company reported a pretax operating loss of $150,000 for financial reporting and tax purposes in 2012. The enacted tax rate is 40% for 2012 and subsequent years.
The standard hours allowed for actual output of month totaled 7,070 machine-hours. What was the variable overhead efficiency variance for the month?
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above. (In other words, they decide not to pay for the license.)
Discuss the proper accounting treatment of $273,000 ($714,000 − $441,000) by which the cost of the first machine exceeded the cost of subsequent machines.
At December 31, 2012, Vermont Industries reported three temporary differences between accounting and taxable income:
In its first year of operations, Harden Co. earned $39,000 in revenues and received $33,000 cash from these customers-Calculate the first year’s net income under both the cash basis and the accrual basis of accounting.
prepare a Balance Sheet, given details attached below, Acid Test Ratio : 2.5, Current Ratio : 1.5, Net working capital Rs. 10, 00,000, Fixed Assets ?, Share holders fund Rs. 15, 00,000, Stock\ Inventory ?
Accounting for Extractive Industries Production commences in Site One
Prepare the journal entries to record the following transactions in Hunt Ltd’s records using the perpetual inventory system. (For multiple debit or credit entries, list accounts in order of magnitude.)
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd