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The prepaid insurance account had a balance of $10,800 at the beginning of the year. The account was increased for $7,200 for premiums on policies purchased during the the year. What is the adjustment required at the end of the year for each of the following independent situaton
a) the amount of unexpired insurance applicable to future period is $8,000?
b) the amount of insurance expired during the year is $12,675?Indicate each account affected whether the account is increased or decreased.
If the bonds bear interest at 12%, which is paid semiannually on January 1 and July 1, what is the total cost to be debited to the investment account?
Explain how it is possible for Hefty to have a net loss but a positive cash flow from operating activities.
Received $1,000 from customers as deposits on orders of new instruments to be sold to the customers in April. Complete the following statements.
logan products computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning
Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.Instructions:
on december 312011 ace management co. prepared an adjusting entry to accrue 9800 of earned but unrecorded rent
fenwicke company organized and began operating a subsidiary in a foreign country on january 1 2015 by investing lcu
at the beginning of the year manufacturing overhead for the year was estimated to be 250860. at the end of the year
griffin corporation reports 400000 of taxable income for the current year. the following additional information is
vacaro corporation produces and sells a single prodcut . data concerning appears below. per unit percent of
Kyle sold land on the installment basis for $100,000. His basis in the land was $70,000. Kyle received a $40,000 down payment and a real estate installment sale contract calling for $60,000 in additional payments in future years.
on december 31 2012 berclair inc. had 500 million shares of common stock and 20 million shares of 8 100 par value
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