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1.On December 12, 2013, an investment costing $80,000 was sold for $100,000. The total of the sale proceeds was credited to the investment account.Required:1. Prepare the journal entry to correct the error assuming it is discovered before the books are adjusted or closed in 2013. (Ignore income taxes.)2. Prepare the journal entry to correct the error assuming it is not discovered until early 2014. (Ignore income taxes.)
on january 1 2004 digital inc. leased heavy machinery from young leasing company. the terms of the lease require annual
darabian company incurred the following costs for 70000 units variable costs were 420000 and fixed costs were 392000.
Described below are certain transactions of Carson Company for 2007: On May 10, the company purchased goods from Jay Company for $50,000, terms 2/10, n/30. Purchases and accounts payable are recorded at net amounts. The invoice was paid on May 18.
Create a contribution margin income statement for Salem Data Services. Assume that intracompany usage is 205 hours. Assume commercial usage is at the March level.
the following information describes transactions for morgenstern advertising company during july a. on july 5
On January 1, 2009, Roosevelt Company purchased 12% bonds, having a maturity value of $506,000.00, for $524,700.75. The bonds provide the bondholders with a 11% yield.
the franc zeppo venture manufactures a product that goes through two processing departments. information relating to
Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix.
what is the accumlated deprieciation for one month using the straight line method of a building that was purchased at
1.a company used straight-line depreciation for an item of equipment that cost 16500 had a salvage value of 4000 and
enciso corporation is preparing its cash budget for november. the budgeted beginning cash balance is 31000. budgeted
are there any circumstances under which taxpayers can rent their personal residence and not be required to report the
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