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List the GL entries (debit and credit) for the following items - list debit/credit by date for each date listed.
On January 2, 2015, an agency decides to order $2,000 of office supplies. The agency has made firm orders for specific vendors. The amounts total $2,000. There are no advances. What is the GL entry when the agency signs the order (but has not yet received the supplies),
On February 2, 2015, the agency receives the goods – the goods are considered expenses, and are not considered personal or real property (or inventory). What is the GL entry?
On February 17, 2015, the vendor receives payment for the goods. How did the vendor (likely) receive payment? Who actually paid the vendor, in most cases? What is the GL entry?
What journal entries are required at December 31, 20X2, to reflect the increase/decrease in carrying value (cost or revalued amount less accumulated depreciation) on the revaluation of the operating license based on the traded values of similar li..
Payback, NPV, and IRR Rieger International is attempting to evaluate the feasibility of investing $95,000 in a piece of equipment that has a 5-year life. Calculate the payback period for the proposed investment. Calculate the net present value (NPV) ..
Calculate the estimated break-even point in annual unit sales of the new product if Martinez company uses and determine the annual unit sales volume at which Martinez Company would be indifferent between the two manufacturing methods.
Purpose a statement of cash flows for the first year, using the direct method in the operating activities section.
During 2011, Adams reported income of $200,000 and paid dividends of $80,000. On January 2, 2012, Watts sold 5,000 shares for $125,000. Illustrate what was the balance in the investment account after the shares had been sold?
calculation of lease amount for the given data.payment that wrenn will require from contech? assume a marginal tax rate
RPR, Inc., anticipates that 120,000 units of product K will be sold during May. Each unit of product K requires four units of raw material A. Actual inventories as of May 1 and budgeted inventories as of May 31 follow.
A recent annual report for Target contained the following information (dollars in thousands) at the end of its fiscal year: Determine the bad debt expense for year 2 based on the preceding facts
Luxottica Group, the Italian company that sells Ray Ban and Killer Loop sunglasses, reported a gross profit percentage of 66.4 percent in 2008 and 65.4 percent in 2009. In each of these two years, the company’s net sales were steady at 5 million euro..
California Imaging Center, a not-for-profit business, is evaluating the purchase of new diagnostic equipment. The equipment, which costs $600,000, has an expected life of five years and an estimated salvage value of $200,000 at that time. The equipme..
Use the internet to research at least two (2) companies that have accelerated the month-end closing process or have performed a virtual close. identify atleast 3 benefits afforded to the users of the financial statements and the company of accelerati..
Suppose a recent income statement for McDonald’s Corporation shows cost of goods sold $6,065.9 million and operating expenses (including depreciation expense of $1,501 million) $13,339.4 million. Using the direct method compute cash payments to suppl..
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