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Frontier Park was started on April 1 by C. J. Mendez and associates. The following selected events and transactions occurred during April.Apr. 1 Stockholders invested $40,000 cash in the business in exchange for common stock.4 Purchased land costing $30,000 for cash.8 Incurred advertising expense of $1,800 on account.11 Paid salaries to employees $1,500.12 Hired park manager at a salary of $4,000 per month, effective May 1.13 Paid $1,500 cash for a one-year insurance policy.17 Declared and paid a $1,000 cash dividend.20 Received $5,700 in cash for admission fees.25 Sold 100 coupon books for $25 each. Each book contains 10 coupons that entitle the holder to one admission to the park.30 Received $8,900 in cash admission fees.30 Paid $900 on balance owed for advertising incurred on April 8.Mendez uses the following accounts: Cash; Prepaid Insurance; Land; Account Payable; Unearned Admission Revenue; Common stock; Dividends; Admission Revenue; Advertising Expense; and Salaries Expense.InstructionsJournalize the April transactions. (If there is no transaction, enter No entry as the description and 0 for the amount.)
Determine the warranty liability at January 31, the end of the first month of the current year. What accounts are decreased for the warranty work provided in February?
Prepare the accounting records for Tanya's Tutoring Service (Version A), Set up the Chart of Accounts, Prepare the bank reconciliation for January 31, 2013
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In connection with the issue of bonds at a premium or a discount, what does the term carrying value of bonds mean? What would the carrying value be at maturity date?
Using the general rule calculates Martin's taxable income for 2011 from the retirement plan and distributions
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Need to be prepared because GASB standards specify the use of the accrual basis of accounting for governments.
What are the key success factors and risks for UPS given its business strategy? How is UPS performing? What factors are driving this performance? Is the current performance likely to be sustained? Why or why not?
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