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Assignment
Prepare the Statement of Owner's Equity for the Summertime Corporation, year ended 12/31/2012, using the following information:
Beginning Capital $10,000Change in Net Income 5,000Additional Investments 2,000Withdrawals 1,000
Prepare the adjusting entries for the following transactions:
1. Salaries are usually paid on Fridays, $500. The month ended on Wednesday though. Prepare the accrual on Wednesday and the needed adjustment on Friday.
2. The supply closet started with $1,000 but a count revealed only $100 was left at month end.
3. Prepaid insurance was $300 for three months, January 1st, prepare the necessary adjustment at 1/31/2013.
How are the shares that have not yet been issued included in the company's balance sheet? Do they represent an asset of the company?
sibrel inc. a manufacturing company has provided the following financial data for septembersales590000variable
journalize the following transactions in the accounts of cecena medical co. a medical equipment company that uses the
internal control procedures as an auditor you have discovered the following problems with the accounting system control
Albert tranfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000.
Assuming the present value of an annuity due of 1 for 6 years at 10 percent is 4.7908 and the present value of an annuity due of 1 for 6 years at 12 percent is 4.6048, what is the lease liability that Stockton should report on the balance sheet at..
Two measures of horizontal analysis-for example, compute the total change in assets by percentage, by dividing current assets in 2005 by current assets in 2004. Compute a similar percentage for current liabilities.
George contributed $3,000 (food, shelter, and medical care) toward the support of his nephew, Andy, who lives with him. Andy earned $1,000 from a part-time job and received a $2,000 scholarship to attend a local university. Can George claim Andy a..
What number of diluted weighted-average common shares outstanding was used by P&G in computing earnings per share for 2007, 2006, and 2005 what was P&G's diluted earnings per share in 2007, 2006, and 2005?
grant inc. acquired 30 of south companys common stock for 350000 on january 1 2011. during 2011 south company reported
A corporation that has both preferred and common stock has a deficit in accuulated earnings and profit at the beginning of the year. The current earnings and profits are $25,000.
TRY Mediation of Eau Claire County is a group of mediators who collaborative help families and individuals in need of mediation. The group contains many professionals who seek to advocate for the truth, and uses the skills of mediation to help fa..
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