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The following adjustments need to be made before the financial statements can be prepared at the end of the year. Task 1: Enter the necessary journal entries into the template provided and provide the journal entry for each. December Interest on a bank loan is due on January 2nd of the following year: accrue $1,000. A contractor (outside services) has finished work on December 31st, but the invoice will not be received until January 7th of the following year: accrue $750. A rent payment was made on December 1st for three months from December 1st to February 28th of the following year (6,000 in total). Record the transaction properly. The companys part-time employees worked a total of 50 hours in December, but will get paid only by January 5th. The hourly rate is $15. The company must record the payment of its annual insurance premium for next year. The annual premium is $1,200, an adjustment is necessary to prepaid insurance. Task 2: Provide the adjusted trial balance (combine exercises 2.1 and 2.2 to show the adjusted trial balance).
for the past several years shane banovich has operated a part-time consulting business from his home. as of october
Evaluate whether the Dodd-Frank legislation can prevent a financial crisis in the future. Provide your rationale.
need help with requirement 2 show how you came to the answer bamboo you inc. this company manufactures bamboo picture
charles austin of the controllers office of thompson corporation was given the assignment of determining the basic and
On October 10, 1981, the general fund of Warsaw repaid to the utility fund a loan of $1000 plus $40 interest. The loan had been made earlier in the fisacal year. Prepare JE for Government-based and fund-based financial statements.
good internal controls are essential for effective and efficient operations of an enterprise. the downside is excessive
A company issued 3%, 16-year bonds with a par value of $560,000. The current market rate is 3%. The journal entry to record each semiannual interest payment is ??
Your posts are very good and state that management should focus on the success of the business rather than managing income to their benefit. This gets into ethics, where if you keep doing the right thing you will reap the benefits with bonus's and..
The hockory Cabinet and furniture Company makes chairs. The fixed cost per month of making chairs is $7,500, and the variable cot per chair is $40. Price is related to demand according to the following linear equation.
achebe company is considering purchasing new equipment. the equipment is expected to reduce annual cash operating
White Corporation, a closely held personal service corporation, has $150,000 of passive losses, $120,000 of active business income, and $30,000 of portfolio income. How much of the passive loss may White Corporation deduct?
as a result management is considering moving from a direct-labor based overhead rate to an activity-based costing
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