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The balance in the unearned fees account, before adjustment at the end of the year, is $112,000. Of these fees, $71,600 have been earned. In addition, $47,400 of fees have been earned but have not been billed. Journalize the adjusting entries (a) to adjust the unearned fees account and (b) to record the accrued fees.
What are some implications of currency depreciation, devaluation, and appreciation for the US Dollar compared to a foreign currency? How does a strong U.S. dollar affect the balance of trade for USA? Why?
S. Company exchanged 400 shares of Daily Company common stock, which Herman was holding as an investment, for equipment from West Company. What journal entry should Herman make to record this exchange?
Compute Rusty's correct gross income for the year, and explain any differences between your calculation and Rusty's.
What is the amount of the payments that Ned Winslow must make at the end of each of 8 years to accumulate a fund of $90,000 by the end of the eight year, if the fund earns 8% interest, compounded annually?
each of the items listed below can be found in the operating section of the statement of cash flows. indicate whether
George plans to sell his customers a special for a ski package weekend. He is able to purchase the package from the providers for $175 each. The ticket packages will be sold for $225 each and the ski resort and lodging facilities intend to reimbur..
Sales revenue for 2008 was $1,000,000 of which 80% was on credit. Historical data indicates that 3 percent of gross credit sales prove uncollectible. (As such 3% of gross credit sales is their accounting policy) What should the balance in the allo..
the following items were selected from among the transactions completed by emerald bay stores co. during the current
What is the purpose of GAAP and management accounting? There is a very important distinction that we need to keep in mind when discussing accounting because... they are not the same
John's car was completely destroyed by fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. W..
for each of the following cases indicate why management and the auditors determined that control deficiency was a
When the budget of a governmental unit is adopted and appropriations are more than Estimated Revenues, the difference is :
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