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a. On July 25, 1981, office supplies estimated to cost $2390 were ordered for the city's manager's office of Bullersville. Bullersville, which operates on the calender year, does not maintain an inventory of such supplies.
b. The supples ordered July 25 were received on Aug 9, 1981, accompanied by an invoice for 2500.
Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE for fund-based reporting, indicate the fund in which the JE will be recorded.
If in preparing a worksheet a adjusted trial balance amount is sorted to the wrong work sheet column will balance on the completing worksheet, but with the wrong net income, if the amounts sorted in error is ?
During the year 2010, the corporation earned $600,000 after deducting all expenses. The tax rate was 30%. Compute the proper earnings per share for 2010.
Assume that you are Sam. Write Blair a memo explaining teh follwoin financail statemnt itemsto her. in your explanation, describe each of the two financial statemnts and explain the fiancial information each contains.
Jeremy's Desks is approached by Mr. Harry Hood, a new customer, to fulfill a large one-time-only special order for a product similar to one offered to regular customers. The following per unit data apply for sales to regular customers.
Wait time to the start of production 5.0 days, Delivery Cycle time 18 days, Move time 3.0 days, Inspection time 2.5 days, Queue Time during the production process 3.5 days.
what was the character of that gain and what is the corporation's basis in the equipment.
Chi Corporation trades an asset with a book value of $20,000 for another asset with a fair market value of $15,000. Find out Chi s cost to record the new asset from the exchange.
Explain clearly why each of the qualitative characteristics discussed in the IASB conceptual framework is important. Which characteristic or characteristics do you think are the most important? Why?
Buffy, Inc. qualifies to use the installment-sales method for tax purposes and sold an investment on an installment basis. The total gain of $90,000 was reported for financial reporting purposes in the period of sale.
In January, 2012, Yoder Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons.
The following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. Prepare in journal form the entry to record each transaction.
Bobcat Company uses a job-order costing system. During April, the following costs appeared in the work in Process Inventory account: Beginning balance $24,000, Direct material used 70,000, direct labor incurred 60,000, applied overhead 48,000, cos..
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