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Question :
Prepare journal entries in the General Fund of the Brownville School District.
a. The District had outstanding encumbrances of $13,000 for band instruments from the earlier year. It is the District's policy to reestablish those encumbrances in the following year.
b. The District ordered textbooks at an estimated cost of $87,000.
c. The band instruments arrived at an invoice price of $12,500 plus $225 shipping.
d. Textbooks initially estimated to cost $77,000 were received with an invoice price of $76,900. The residual portion of the order is backordered.
e. A contract was signed with a CPA to give the annual audit in the amount of $11,000.
Net income for Sparis was $912,000 during 2011. What was the noncontrolling interest's share of Sparis' net income for 2011?
Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the mile operated during the current year.
Many firms issue debt to finance their stock repurchases. Issuing debt is another controversial topic.
Does it leave a trail of what happened? For example, if anyone has used QuickBooks, you can delete a journal entry if you make a mistake. Would it be preferable to reverse the entry rather than delete it?
What factors are important to the success of Cafe Express? Which of these are controllable by Thomas? Does it matter?
Identifying the External borrowings requirement or excess cash generated by preparing the pro-forma balance sheet - Forecast the firm's December 31, 2010 pro-forma balance sheet. Identify the external financing need (EFN) or excess cash generated.
The financial statements for Perez are translated by its U.S. parent. What amount of gain or loss would be reported in its translated income statement?
List out five pieces of information you want to obtain to aid you in your forecast, explaining why this will aid you in your forecast.
Labelling the T-accounts with the correct account name, labelling debit and credit on the T-account
How much will Casino Corporation owe on this loan after making monthly payments for three years (the amount owed immediately after the thirty-sixth payment)?
Retail and wholesale grocery company
Is there any profit built in to the value of Work In Process Inventory? Isn't WIP simply the costs incurred on the goods and any progress billings received would be shown as deferred income - until completion?
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