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Prepare journal entries to record the following transactions and events applicable to the calendar year 2013 operations of Lily City1.The approved budget for the year follows:Estimated RevenuesProperty tax revenues....... $ 600,000Licenses and fees ....... 30,000AppropriationsPublic safety salaries....... $ 550,000Public safety, other expenditures.. 90,0002.Property taxes of $ 600,000 were levied, and bills totaling that amount were mailed at the beginning of the year. During the year, $ 590,000 of property taxes were collected. Licenses and fees collected amounted to $ 28,000.3.Salaries paid during the year amounted to $ 580,000; police officers earned an additional $ 12,000 during December that will be paid in January.4.Purchase orders for supplies were placed in the amount of $ 60,000. The entire amount ordered was received during the year, together with invoices totaling $ 56,000. The invoices were approved for payment.
a business received an offer from an exporter for 20000 units of product at 15 per unit. the acceptance of the offer
Blakeslee Machinery announced this morning that their next annual dividend will be increased to $2.10 a share and that future dividends will be lowered by 2 percent per year. The stock price after the announcement settled at $16 a share. What is t..
Assuming the museum has available capacity, should the museum accept the special order? Explain the factors you considered to arrive at your answer.
On May 31, the inventory balances of Tog Designs, a manufacturer of high quality children's clothing, were as follows: Materials Inventory, $21,360; Work in Process Inventory
If the absorption costing method can be misleading, and it is not suitable with the CVP, why is it the GAAP approved method? How about international standards, What is the treatment under IFRS?
mccoys fish house purchases a tract of land and an existing building for 970000. the company plans to remove the old
In a period of increasing prices, why would the company tax accountant prefer the last in, first out method while the CEO would prefer first in, first out? Why is this important?
janice is the sole owner of catbird company. in the current year. catbird had operating income of 100000 a long term
Why is it more difficult to distinguish between internal and external users in governments than in businesses?
Finished goods inventory at the end of last December was 200 units. Ending finished goods inventory is equal to 25 percent of the next month's sales. Jasper Company expects to sell the brackets for $45 each. How many brackets should Jasper produce..
due to erratic sales of its sole product- a disposable pocket camera-markline compnay has been experiencing difficulty
harriet pandel an employer is subject to fica taxes but exempt from futa and suta taxes. during last quarter of the
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