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On February 1, Jacher Company, a U.S. company, purchased inventory on credit from a British Company for 50,000. Jacher properly recorded its inventory and accounts payable at $90,000, based on an exchange rate of $1.80. Jacher paid for the inventory on February 25 when the exchange rate was $1.75. Prepare the journal entry of Jacher Company to record the payment.
Why is a knowledge of accounting concepts and terminology useful to anyone in a business activity? Is there a difference between bookkeeping and accounting? Discuss.
Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.
charles inc. began using dollar-value lifo for costing its inventory last year base year. the ending inventory this
when the amount we expect to be collect can be determined then the revenue is recognized to the extent that collections
from the perspective of financial statement users what in your opinion are the most significant issues or problems
george grayson will retire in three years. he wants to open some type of small business operation that can be managed
An additional way of using a Horizontal Analyses is by comparing actual results to budgeted or forecast results. What benefits does this of comparison provide
sally purchased a new computer five-year property on june 1 2013 for 4000. sally could use the computer 100 of the time
Prepare the journal entries for the above transactions.
problem 18-36 basic earnings per share-simple capital structurethe following condensed financial statements for hudson
franco and jason share income and losses in a 21 ratio after allowing for salaries to franco of 15000 and 30000 to
corporation ended its first year of operations withtaxable income of 225000. at the time of pheasantsformation it
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