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1.At the end of 2012, Majors Furniture Company failed to accrue $61,000 of interest expense that accrued during the last five months of 2012 on bonds payable. The bonds mature in 2024. The discount on the bonds is amortized by the straight line method. The following entry was recorded on February 1, 2013, when the semiannual interest was paid:
Required:Prepare any journal entry necessary to correct the error as well as any adjusting entry for 2013 related to the situationdescribed.
prepare journal entries in the internal service fund to record the transactionsinternal service funds are accounted for
Depreciation Method and Useful Life Building: 150%-declining-balance; 25 years. Machinery and equipment: Straight-line; 10 years. Automotive equipment: Sum of the years'digits; 4 years. Leasehold improvements: Straight line.
in 2010 abc company purchased machine for 300000 that had a useful life of 5 years with a salvage value of 50000 at the
Ethnics are an important aspect of corporate culture.
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When merchandise sold is assumed to be in the order in which the expenditures were made, the inventory method is called first-in, last-out.
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Del Gato Clinic deposits all cashreceipts on the day when they are received and makes all cashpayments by check. Prepare a bank reconciliation for Del GatoClinic using the information.
why do you think the sec requires that balance sheets provide two years of comparative financial information and income
hagos corporation is working on its direct labor budget for the next two months. each unit of output requires 0.84
You have gone to the bank to borrow money for one year. The nominal rate is 7.5%. The real rate of interest is 4%. Over the course of the year, overall prices increased by 4%. This rate of inflation hurt the _____ because the actual rate of inflat..
if a company sells goods that cost 70000 for 82000 the firm will? reduce finished-goods inventory by 70000 reduce
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