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what would be the journal entry for "finished goods with a carrying cost of 138500 are sold on account for 199500. assume a perpetual inventory system and enter a compound journal entry".
In connection with the audit of an issue of long-term bonds payable, the auditor should
How do ethics codes apply to project selection and capital budgeting? What are the potential risks to a company of unethical behaviors by employees? What are potential risks to the public and to stakeholders? Please explain how Saint Leo's core value..
Prepare the appropriate entries for Winn Heat Transfer from the inception of the lease through the end of 2011. Winn's fiscal year is the calendar year. Winn uses straight-line depreciation.
Harmon Production Company applies overhead to jobs. Which of the following is one effect of the application of overhead?
The floor space of Rocky's residence is 2,500 square feet, and he estimates that 20% of this is devoted exclusively to the repair business. Gross income from the business is $12,000, while expenses (other than home office) are $5,000. Expenses rel..
Filer Manufacturing has 9.5 million shares of common stock outstanding. The current share price is $53 and the book value per share is $5.
What are the steps in completing the accounting cycle? How do the different steps impact the financial statements? What is the impact on the financial statements of missing a step when completing the accounting cycle?
On January 1, 2011, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. These securities were classified as trading securities.
In 2012, Warren sold his personal use automobile for a loss of $9,000. He also sold a personal coin collection for a gain of $10,000. As result of these sales, $1,000 is subject to income tax.
Voice App is a midsize software company that specializes in voice recognition software. Due to rising costs of maintaining IT technical support, your director is considering outsourcing your technical support services. Currently, your technical supp..
During 2014, Shipley distributed a dividend in the amount of $120,000 and at year-end reported a $320,000 net income. Any difference between implied and book value relates to subsidiary goodwill. Pioneer Company uses the equity method to record it..
Victory Company uses weighted-average process costing to account for its production costs. Direct labor is added evenly throughout the process. Direct materials are added at the beginning of the process.
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