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On July 1, 2017, Oriole Co. pays $16,140 to Waterway Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Oriole Co., journalize the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Austin, Inc., acquired 10 percent of McKenzie Corporation on January 1, 2014, for $336,000 although McKenzie’s book value on that date was $2,300,000. McKenzie held land that was undervalued by $160,000 on its accounting records. During 2014, McKenzi..
The predetermined overhead rate is $6 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $4 variable per direct labor hour and $50,000 fixed. Calculate the overhead controllable variance.
Using the deferral method, prepare a statement of revenues and expenses and a statement of changes in net assets for Wise Owls for 20X1.
Marketing Inc. has 10,000 shares outstanding - Marketing Inc, had the following assets and liabilities that were assumed by FRC Inc.
Identify a company who has used Activity Based Costing and report what the company said about ABC's benefits in increasing knowledge and/or increasing shareholder value.
Quantity-actual production time 1.5 hours, rest periods and clean up 0.33 hours, and setup and downtime 0.18 hours. Compute Standard direct labor rate per hour.
New lithographic equipment, acquired at a cost of $772,800 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $86,940. Determine the annual depreciation expense for each of the estimated f..
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Bancroft Corporation, a manufacturer of industrial pumps, reports the following results for the year ending January 31, 2010.
Journalize the payment of the bond interest on January 1, 2012 - Prepare the adjusting entry on December 31, 2012, to accrue the interest on the remaining bonds.
Company A and Company B each borrow $2,400 from the bank. Company A signed a 90-day, 10% note. Company B signed a 120-day, 9% note. How will each of these companies record these events in their respective general journals on the day the money was bor..
module 11 what are the maturities on intels long-term debt?2 what are intels projected obligations on long-term debt
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