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a. Tao Co. receives $10,000 cash in advance for 4 months of legal services on October 1, 2013, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2013, and Tao has provided legal services as planned. What adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2013?
b. A. Caden started a new publication called Contest News. Its subscribers pay $24 to receive 12 monthly issues. With every new subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2013. It sends Contest News to each of these subscribers every month from July through December. Assuming no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2013, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account.
The Fulmar Division of Jayne manufacturing had an ROI of 25% when sales were $2 million and controllable margin was $400,000. What were the average operating assets?
Compute the standard quanity allowed 4 material for the month production I need to comute the standard quanity of material allowed per unit of products
Explain underlying accounting concepts, assumptions, and principles of accounting) David Newberry is chairman of the board of Healthy Food Brands, Inc. Suppose Mr. Newberry has just founded Healthy Food Brands, and assume that he treats his home and ..
your ceo read a recent report on the importance of the sox act but he acknowledged that he does not know much about it.
Can only be resolved by a zoning ordinance restricting high-rise buildings. Should be resolved by a government fine for the builder of the high-rise
Assume that both X and Y are well-diversified portfolios and the risk-free rate is 8%. In this situation, you would conclude that portfolios X and Y.
Consider the features of perpetual inventory and respond to the following: Discuss the advantages and disadvantages of accounting for inventory under the perpetual inventory system.
A company is considered replacing an old piece of machinery which cost 600,000 and has 350,000 of accumulated depreciation to date, with a new machine that costs 528,000. the old machine could be sold for 82,000. what is the sunk cost in this situat..
What are some reasons why a company with a positive net income may fall short of cash from its operating activities? What could be done to improve this situation?
On January 31, 2010, Janet won the lottery and on the same day she decided to repay all of her original debts to everyone whom she owed money. Prepare the journal entry to record Walter's unexpected receipt of Janet's payment.
Suppose you want to retire in exactly 30 years. At that time, you wish to have $500,000 in your retirement account. If the applicable rate is 5.78%, compounded monthly, how much would you need to put into the account at the end of each month to meet ..
multiple choice questions on dta temporary differences etc.1. major reasons for disclosure of deferred income tax
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