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On January 1, 2010 you had in supplies inventory $1200. On February 1 you purchased supplies costing $1800 and you debited supplies expense. On April 1, you purchased supplies costing $500 and debited supplies. On November 1, you purchased $900 of supplies and debited supplies expense. At the end of the year you had $300 of supplies on hand. You did not make an adjusting entry. The books are closed. What is the entry to be prepared at the beginning of 2011?
During 2010, one of the customers of Klote company declared bankruptcy. This customer had been a major purchaser of Klote's products and had owed $40,000 on account to Klote (a material portion of its receivables) at the time of bankruptcy.
a. Prepare an incremental analysis for the decision to make or buy the wheels. b. Should Collier Bicycles buy the wheels from the outside supplier? Justify your answer.
at the beginning of the period the cutting department budgeted direct labor of 155000 direct material of 165000 and
on may 2 1986 hannah acquired residential real estate for 450000. of the cost 100000 was allocated to the land and
alternative joint-cost-allocation methods further-process decision. the wood spiritscompany produces two
the xyz company is planning a 50 million expansion. the expansion is to be financed by selling 20 million in new debt
lifetime distribution markets classic childrens books. at the beginning of june lifetime had in beginning inventory
a physical count on may 31 2010 shows 2000 units of part m.o. on hand. using the fifo method what is the cost of part
rollie company incorporated in 2011 and had the following transactions during 2011 issued 18000 shares 40 par value
What is her 2010 gift tax liability under the assumption that she made the $200,000 if taxable gifts in 1974 instead of 1997?
What is the difference between gross pay and net pay? Which amount should a company record as wages or salaries expense?
Frank Clarke, an employee of Smithson Company, was covered under a noncontributory pension plan. Frank died on April 15 2010 at age 64 and pursuant to the plan, his widow received monthly pension payments of 500 beginning May 1 2010.
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