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On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $4,400, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2014.
Each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at:
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.
Identifying business activities requires selecting transactions and events relevant to an organization. Which of the following events would be recorded in the accounting records of Acme Car Wash?
Which of the following is a true statement about governmental units that issue tax- supported debt to finance capital projects?
The cost of not taking the cash discounton trade credit of 3/10, net 30 is equal to:
bubbas crawfish processing company uses a traditional overhead allocation based on direct labor hours. for the current
Prepaid rent at 1/1/10 was $20,000. During 2010 rent payments of $123,000 were made and charged to "rent expense." The 2010 income statement shows as a general expense the item "rent expense" in the amount of $122,000.
From the e-Activity, identify a local medium-sized service business in your community. Evaluate how you would implement a performance-focused ABC system in the company as described in the e-Activity.
Prepare the adjusting entry (if any) for 2008, assuming the securities are classified as available-for-sale.
Murphy Co. had 200,000 shares outstanding of $10 par common stock on March 30 of the current year. Murphy reacquired 30,000 of those shares at a cost of $15 per share and recorded the transaction using the cost method on April 15.
This is the remaining balance of a twelve-month advertising campaign purchased on August 31 in the current year. Assuming the cost is spread equally over each month how much did this advertising campaign cost in total?
1. what are the similarities and differences between personal property real property intangible property and natural
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