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1. Simonies Company, which uses iGAAP, has a note receivable with a carrying value of $30,000 at December 31, 2010. On January 2, 2011, the borrower declares bankruptcy, and Simonis estimates that only $25,000 of the note will be collected. Prepare the journal entry to record this loss. Briefly describe the accounting for the loan subsequent to the bankruptcy, assuming Simonis estimates that more than $25,000 can be repaid.
Bruce debited cash and credited unearned rent revenue for $600,000. At December 31, 2009 (the end of the accounting period), give the adjusting entry Bruce should make in respect to the rent.
1.assume the following sales data for a company 2010 700000 2011 600000 what is the percentage increase in sales from
suppose a number of your friends have organized a company to develop and sell a new software product. they have asked
using the company that you used for your mid-term assignment you are to conduct the following additional analysisfrom
Journalize the following transactions in the accounts of Linden Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:
pa limited operates a job costing system. the company standardsale price is predetermined rs. 505 based on cost plus 20
dylan howell and demond nickles have decided to form a partnership. they have agreed that howell is to invest 50000 and
Scandia Coat Company makes women's and men's coats. Both products require filler and lining material. The following planning information has been made available:
a common problem facing any business entity is the debt versus equity decision. when funds are required to obtain
From this week's reading, you were introduced to the concept of unearned revenue and prepaid expenses. Imagine that you are CFO of a company that manufacturers picture frames.
The Self Directed Learning Plan (SDLP) is a process and document to chronicle your accomplishments and learning steps through the MBA program and beyond as they relate to your professional goals.
Determine sample size based on the following audit judgments.
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