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Journalize the following transactions for the Evans Company. Assume the company uses perpetual inventory system.
1) Sells merchandise for $645. Cost of merchandise sold $375.
2) Sells merchandise for $432 and accepts VISA as the form of payment. Cost of merchandise sold $195.
3) Sells merchandise on account for $670. Cost of merchandise sold for $438.
4) Credit card fees paid for the month is $85.
Landon paid $20,000 in dividends to each of the two stockholders in each of the three years. Prepare a statement of retained earnings for the year ended December 31, 2010.
in an essay of 1250-1500 words comprehensively discuss causal factors the implications and possible mitigation
Carter Corporation had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000 to preferred stockholders in 2008.
Prepare a pension worksheet for the pension plan in 2008. Prepare any journal entry(ies) related to the pension plan that would be needed at December 31,2008. Prepare a pension worksheet for 2009 and any journal entry(ies) related to the pension plan..
The management of Crail Corporation is considering a project that would require an initial investment of $51,000. No other cash outflows would be required. The present value of the cash inflows would be $60,180. The profitability index of the proj..
The Connecting company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transaction occurred:
These are the only repairs required in 2010 for this copier. Based on experience, Lee expects to incur warranty costs equal to 3% of dollar sales. It records warranty expense with an adjusting entry at the end of each year
Is preventing employee fraud easier or more difficult in small companies? Why? Use examples from the news or your own experience to explain and justify your answer.
Mindful of these considerations, Gillian,Goelzer, and the other board memebers mulled over the options: Should they approve the standard as proposed Should they accommodate the critics Should they find a middle ground If so, what provisions should..
The following are selected transactions of Darby Corporation. Prepare journal entries for the selected transactions above. Prepare adjusting entries at December 31.
Burton did not notify Wilson of these facts. Two days later when Burton again presented the instrument for payment, Burton was told that Foxx's creditors had filed a petition in bankruptcy that morning. Which of the following statements is true?
if this is a proportionate nonliquidating distrubtion, what is the tax effect of the distribution to Monica and MIP? After the distribution, what is Monica's basis in the inventory and in her MIP interest?
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