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A $290 purchase order for advertisements soliciting bids for the Springer Street Project was issued on January 2. The bill for advertising in the amount of $300 was received and a voucher for payment was issued on January 15, 2011. Required: Prepare the journal entries tp record the encumbrance, billing and the Vouchers Payable liability in the Street Improvement Fund and governmental activities journals as appropriate.
Discuss factors or conditions that contribute to such a possibility. How can additional information and supplementary data (beyond financial statements) help prevent this possibility?
Who are the stakeholders in this situation
Identify and briefly describe three ways you could use analytical procedures as risk assessment procedures, Identify and briefly describe three ways you could use analytical procedures as substantive procedures through the audit.
Given base index and index at delivery, evaluation of adjusted contract price. Given the following contract information, calculate the adjusted contract price
Camille also incurred selling expenses of $100. What is the amount realized by Camille in the exchange?
Consider Platypus Building Inc. uses the percentage of completion technique, what amount of gross profit would be recognized in 2013?
Assume that the company classified the shares of treasury stock as short- term investments in the current asset section of its balance sheet. Is this appropriate? Explain.
One client gave the company a computer with a retail price of $2,500 and a fair market value of $2,000 in exchange for accounting services. Based on these facts, what is the company's gross income for the year
Inventory at the beginning of the year was 20,400 units. The finished goods inventory at the end of each quarter is to equal 34% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter?
The difference between the actual value and the projected value is called data dispersion. Please describe several ways the CFO organization can use to mitigate the data dispersion risks.
Compute the cost of goods available for sale and the units available for sale for this four week period. Assume that no sales occur during those four weeks.
At December 31, 2004, the balance in the investment account should be $810,000. Illustrate what formula/steps do I take to get $810,000?
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