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The net income of Steinbach & Sons, a department store, decreased sharply during 2009. Mort Steinbach, owner of the store, anticipates the need for a bank loan in 2010. Late in 2009, Steinbach instructs the store's accountant to record a $2,000 sale of furniture to the Steinbach family, even though the goods will not be shipped from the manufacturer until January 2010. Steinbach also tells the accountant to make the following December 31, 2009, adjusting entries: Salaries owed to employees...........................$900 Prepaid insurance that has expired.................$400 If appropriate, include personal experience in your response.
In April 2006, ABC Motors had Total Sales of $100,000; Total Expenses of $60,000 and a beginning balance of Retained Earnings of $25,000. The company will pay a $10,000 dividend this month (the dividend was declared this month as well). What is th..
If the amount awarded each year is $15,000, determine the rate of return earned on the fund.
Analyze the factors involved in translating the statements of a foreign entity operating in a highly inflationary economy and determine which single factor carries the most weight. Explain your rationale.
lasting carpet inc. a carpet wholesaler issued cash for 300000 shares of no-par common stock at 9 and on nov. 18 it
inlcuded in perrys capital balance is a 20000 partnership loan owed to perry. perry quincy and renquist shared profits
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What amount can USA Corporation deduct for premiums attributable to Ursula and how much must Ursula include in income relative to the premiums paid?
beige computers operates retail stores in both downtown city and suburban mall location ns. the company has two
You're a US company with a customer that is going to pay you 10,000 Euros in six months. The correct futures hedge for this condition is to enter in a contract in which you buy Euros (True or False)
x company is considering investing in manufacturing equipment expected to cost 184000. the equipment has an estimated
assume that the company produces and sells 81000 units during the year at a selling price of 8.8 per unit. prepare a
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