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Discussion Question
Please provide the proper journal entries for the two different types of accruals for Grantham Landscaping LLC. Please use accrual base accounting.
Transaction 1: Grantham Landscaping Co. usually receives a monthly phone bill for $200, in which a check is issued for immediately. However, for this month end, the bill never came.
Transaction 2: Grantham Landscaping Co. The next month has opened up since the period which Transaction # 1 occurred. The bill has now been received and a check will be issued immediately. What is the proper treatment for the accrual journal entry which occurred last month.
Discuss why it's important for the accrual to be made in regards to financial reporting.
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To raise operating funds, Signal Aviation sold an airplane on January 1, 2013, to a finance company for $1,030,000. Signal immediately leased the plane back for a 10-year period, at which time ownership of the airplane will transfer to Signal.
at october 1 2013 metz industries had an accounts payable balance of 60000. during the month the company made purchases
In recent years directors and CEOs of companies have been placing more importance on holistic reporting of company activities rather than simply reporting what is required by the Accounting Standards, the Corporations Act and other legislation.
activty-based costing. kaysi hoffmanthe manager of wilwater adventurers uses activity-based costing to compute the
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Briefly - in 150 words or less - describe the effect of cost structure on profitability, including recommendations for each company given the current economic environment, as you understand it.
What effect does the payment of government unemployment insurance have on the unemployment rate? On the severity of recessions?
Dillons Corporation made credit sales of $30,000 which are subject to 6% sales tax. The corporation also made cash sales which totaled $20,670 including the 6% sales tax.
contemplating awarding a contract to the azusa manufacturing company for the assembly of wiring harnesses. included in
The following comparative balance sheets and income statement are available for ABC Inc. Prepare a statement of cash flows for 2016 using the indirect method and analyze the statement.
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