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Classify the following items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue, or (d) accrued expense:
1. A two-year premium paid on a fire insurance policy.2. Fees earned but not yet received.3. Fees received but not yet earned.4. Salary owed buy not yet paid.5. Subscriptions received in advance by a magazine publisher.6. Supplies on hand.7. Taxes owed buy payable in the following period.8. Utitlites owed but not yet paid.
Discuss why a buyer may want to order on a bill and hold basis. Why might a seller want to classify an order as bill and hold if it does not meet the above criteria?
a loan is being repaid by 15 annual installments of 1 000 each. interest is at an effective rate of 5. immediately
goll corp. issued 1000 of its 10 1000 bonds for 960000. these bonds were to mature on january 1 2016 but were callable
Corporate social responsibility (CSR) is one of the hottest issues in corporate boardrooms. Use a peer-reviewed, scholarly article regarding corporate social responsibility (CSR). Begin with an introduction that defines the subject of your article..
shepler boot company makes specialty boots for the rodeo circuit. on december 31 2010 the company had a 500 pairs of
Present two alternatives for how the company may be structured after ten years of successful international growth. Nominate one of these as your preferred option and justify. What relationships could it form within its industry and with other stak..
sky king company sold 9 million of four- year 8 debentureson july 1 2007. the bonds sold to yield a real rate of
Mel is not quite sure whether an expenditure he made is a deduction for AGI or a deduction from AGI. Since he plans to choose the standard deduction option for the year, does the distinction matter? Explain.
Assume that the net loss for the first year of operations is $20,000 and that net income for the subsequent year is $40,000. Assume also that each partner withdraws the maximum amount from the business each period. What is the balance in Winston's ca..
james corporation purchased a one-year insurance policy in january 2010 for 48000. the insurance policy is in effect
two planes take off at the same exact moment. they are flying across the atlantic. one leaves new york and is flying to
Lennox Company uses a job order costing system.
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