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Listed below are a few transactions and events of Jester Company. 1 During December, Jester Company sold 3,000 units of a product that carries a 60-day warranty. December sales for this product total $120,000. The company expects 8% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $15. 2.Employees earn vacation pay at a rate of one day per month. During December, 20 employees qualify for one vacation day each. Their average daily wage is $120 per employee. Prepare any necessary adjusting entries at December 31, 2011, for Jester Company's year-end financial statements for each of the above separate transactions and events.
Both Mr. Jones and Mrs. Green earned $50,000 gross in 2009. Yet, Mr. Jones owed IRS $600 on his tax return while the IRS owed Mrs. Green $600 on her tax return.
The charter of a corporation provides for the issuance of 109000 shares of common stock. Assume that 59000 shares were originally issued and 4700 were subsequently reacquired. What is the number of shares outstanding?
wayne shen established windy city placement service wcps to provide executive counseling and job placement services to
Use the high-low method to calculate the cost formula utility costs.
December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60%) and to goodwill (40 %). On a consolidated balance sheet as of January 2, what would be the amount for ea..
what do we mean by amortization? suppose a loan is being amortized. what would happen over time to the size of the
Calculate the amount of operating expenses incurred by ABC Company during May. Do not use decimals in your answer.
The marketing vice president feels that if the company increased its advertising, sales could be increased by 25%. What is the maximum increased advertising cost the company can incur and still report the same income as before the advertising expe..
Write a 1,050- to 1,400-word paper you assume the role of Kardell's CEO. As CEO, critically examine each stakeholder position in light of the facts of the case.
collison and ryder company campr has been experiencing declining market conditions for its sportswear division.
At the beginning of November Manny Co. had $600 worth of supplies on hand. During the month of November Manny Co. purchased $2,100 worth of supplies. On November 30, Manny Co. counted supplies and found that $1,600 remained on hand. What is the ap..
The present value of these cash flows, discounted at Mining's market interest rate, is $2,800,000. At what amount should the patent be carried on the December 31, 2007 balance sheet?
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