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jws transport co. employees earn vacation time at the rate of 1 hr per 40-hour work period. the vacation pays vests immediately. during 2009, total wages paid to employees equaled 404,000 including 8,000 for vacation actually taken in 2009 but not including vacations related to 2009 that will be taken in 2010. all vacations earned before 2009 were taken before jan 1, 2009. no accrual entries have been made for the vactions. no over time premium and no bonuses were paid during the period.
Prepare the appropriate adjusting entry for vacations earned but not taken in 2009?
You have been engaged to review the financial statements of Water Sync Inc. In the course of your investigation you find a number of irregularities during the current year.
What is the amount of Citradoria Corporation's allowable deduction for charitable contributions for the current year?
Martin Company sells a certain product for $15 per unit. The beginning inventory is 40,000 units, and the desired ending inventory is 32,000 units. If budgeted production is 100,000 units, what is the forecasted sales revenue from the product?
Sierra and Jenson formed a partnership. Sierra contributed $25,000 cash and accounts receivable worth $11,000. Jenson's investment included cash $5,000; inventory, $18,000; and supplies, $1,000.
Which cost flow assumption give lower taxes during inflation; LIFO or FIFO?
Critique the benefits and drawbacks of proprietorships and partnerships as a form of business organization.
Brittle Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the third quarter of the current year.
Arrow manufactured 19,000 units of product during May using 142,500 pounds of direct material and 5,000 direct labor hours. a. Calculate the direct materials price variance for May.
Compute the unit variable cost and the contribution margin per unit. If fixed costs are $2750.00 per month. What is the break-even point in units?
The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below:
The Bradshaw Company's most recent dividend was $6.75. The historical dividend payment by the company shows a constant growth rate of 5 percent per year.
Prepare the stockholders equity section of Cohen Canoes Inc., balance sheet at May 31. The ending balance of retained earnings is $55,000.
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