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At the end of the month, Grant Entertainment Company showed a $12,300 book balance in its cash account. The following information was gathered by studying the bank statement and the company's cash records: (1) deposits in transit amounted to $3,900 (2) outstanding checks were $7,700 (3) a $700 check had been incorrectly drawn on Grant's account by the bank (4) NSF checks returned by the bank were $900 (5) bank service charge was $31 (6) credit memo for $100 for the collection of one of the company's account receivable Based on the above information the true cash balance would be:
$8,400.
$8,269.
$12,169.
$11,469.
Record the entry to close revenue earned to income summary. Record the entry to close all expense accounts to income summary. Record the entry to transfer net income earned in 2015 to the retained earnings account.
Prepare an income statement for Kagawa Company for 2009, including an earnings-per-share section and following are the line items included in the 2009 statement of cash flows prepared by the Nine Muses, Inc. (amounts are in thousands)
Success system sells upscale modular desk units and office chairs in the ratio of 3:2 (desk unit: chair). The selling prices are $1,250 per desk and $500 per chair. The variable cost are $750 per desk unit and $250 per chair. Fixed cost are $120,000.
On 1/1/2013, a company grants 1,000 options to its CEO with an exercise price of $60 as compensation. The options vest after three years and expire after 10 years. The stock price is $60 on the grant date. The fair value of the options is $30 per sha..
Prepare dated journal entries for ABC Corporation in U.S. dollars for the incurrence and settlement of this foreign currency transaction. ABC Corporation employs a two-transaction perspective.
question kee huat steel constructor managed to safe a fixed price contract from resort sentosa to build a
compute the cost of job order costing systemglass industries uses a job-order costing system. the molding department
Jones manufactures and sells custom storm windows for enclosed porches. Jones also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be provided by other vendors. The ..
What does the term "risk" mean in the context of capital budgeting? To what extent can risk be quantified, and, when risk is quantified, is the quantification based primarily on statistical analysis of historical data or on subjective, judgmental ..
(Revenue recognition-point of sale) Jupiter Company sells goods on January 1 that have a cost of $500,000 to Danone Inc. for $700,000, with payment due in 1 year. The cash price for these goods is $610000, with payment due in 30 days. Prepare the jou..
Revaluation adjustments on acquisition are to be made on consolidation only, not in the books of any subsidiary and non-controlling interests are measured at the proportionate share of a subsidiary's identifiable net assets
A company has 500,000 shares authorized, 100,000 shares issued, and 10,000 shares in Treasury Stock. How many shares are outstanding?
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