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1. The adjusted trial balance of Harmony Company at December 31, 2010, includes the following accounts: S. Harmony, Capital $15,600; S. Harmony, Drawing $6,000; Service Revenue $35,400; Salaries Expense $16,000; Insurance Expense $2,000; Rent Expense $4,000; Supplies Expense $1,500; and Depreciation Expense $1,300. Prepare an income statement for the year.
Earned $11,000 for services rendered: $3,000 cash is received from customers, and the balance of $8,000 is billed to customers on account.
franklin co. borrowed 75000 from a bank on august 1 2006. theannual interest rate on the loan was 10. franklin co.
Find economies of scope. Provide examples of specific actions Harley-Davidson's managers could take to reduce expenses or share activities through horizontal relationships across brands.
Analyze what went wrong that caused the system of internal control to fail, and what could have been done differently to prevent the problems.
How he is violating the GAAP principles of revenue recognition - How the revenue should be recognized.
Nord Company had $375,000 of current assets and $150,000 of current liabilities before borrowing $70,000 from the bank with a 3-month note payable. What effect did the borrowing transaction have on Nord Company's current ratio?
Cheng Company traded a used truck for a new truck. The used truck cost $81,570 and has accumulated depreciation of $73,413. The new truck is worth $100,603. Cheng also made a cash payment of $97,884. Prepare Cheng's entry to record the exchange.
dynamics telecommunications corp. has made an investment in another company that will guarantee it a cash flow of 23967
you have been hired as the cfo of a new company and are determining the companys accounting needs.explain to your staff
Lucille Corporation is a publicly held corporation whose common stock is traded on the securities markets. On June 1, it acquired land by issuing 20,000 shares of its $10 par value stock. At the time of the exchange, the land was advertised for sale ..
parrett corp. acquired one hundred percent of jones inc. on january 1 2009 at a price in excess of the subsidiarys fair
There are 300 packages in the beginning inventory on the first of January. Also, the company wishes to maintain an ending inventory of 10 percent of the next month's sales.
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