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1.On September 11, 2012, Home Store sells a mower for $500 with a one year warranty that covers parts. Warranty expense is estimated at 8% of sales. On July 24, 2013, the mower is brought in for repairs covered under the warranty requiring $35 in materials taken from the Repair Parts Inventory. Prepare the September 11, 2012, entry to record the mower sale, and the July 24, 2013, entry to record the warranty repairs.
Finney Company began the year by issuing $20,000 of common stock for cash. The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000. What was Finney's net income for the year?
iguana inc. manufactures bamboo picture frames that sell for 22 each. each frame requires 3 linear feet of bamboo which
during january its first month of operations reyes tool amp dye accumulated the following manufacturing costs raw
concordia industries collected 105711 from customers in 2014. of the amount collected 27955 was from revenue accrued
Write a 700- to 1,050-word paper analyzing the disclosures contained within the notes to the financial statements related to cash and cash equivalents, receivables, and inventories. Include a list identifying the components of the organization's c..
Why does an intra-entity sale of a depreciable asset require subsequent adjustments to depreciation expense within the consolidation process?
Maris Co. purchased a machine on January 1, 2013, for $1,200,000 for the express purpose of leasing it. The machine is expected to have a five-year life, no salvage value, and be depreciated on a straight-line monthly basis.
avantronics is a manufacturer of electronic components and accessories that has total assets of 20000000. selected
on december 31 2012 dow steel corporation had 600000 shares of common stock and 300000 shares of 8 noncumulative
if the beginning inventory is understated by 1300 and ending inventory is understated by 700 what would be impact on
1.Air France KLM (AF), a French company, prepares its financial statements according to International Financial Reporting Standards.
based on the following information what would be the ending balance in the retained earnings account assuming all
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