Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Please answer the following question.
You are controller for an architectural firm whose accounting year ends on December 31. As part of the management team, you receive a year- end bonus directly related to the firm’s earnings for the year. One of your duties is to review the transactions recorded by the bookkeepers. A new bookkeeper recorded the receipt of $ 10,000 in cash as an increase in cash and an increase in service revenue. The $ 10,000 is a deposit and the bookkeeper explains to you that the firm plans to provide the services to the client in March of the following year. 1. Did the bookkeeper correctly record the client’s deposit? What would you do as controller for the firm? Do you have a responsibility to do anything to correct the books? Explain your answer.
In the past, the 10 persons employed in the production of Fruta consisted of 4 senior workers and 6 assistants. During June, the company experimented with 5 senior workers and 5 assistants. Would you recommend that the new labor mix be continued?
What are reversing entries and why are they required? What transactions might require reversing entries? What transactions might not? What would happen if reversing entries were not made?
Another client gave her a check for $750 on December 31, 2011, but after the bank had closed. Both the $500 and $750 checks cleared the next year. Explain how much does Sarah have to include in her gross income for 2011?
Suppose that joint -product costs are allocated using the net realizable value method, what were the net costs of product Y?
Prepare Chester, Inc.'s journal entry (or entries) to record its acquisition of Festus Corp. assuming that the separate incorporation of Festus is maintained.
Three different companies each purchased a mcahine on January 1, 2012 for 54,000. Each machine was expected to last five years or 200,000 hours, salvage walue was esitmated to be 4,000. which company will report highest amount of net income for 2..
Calculate the labor rate variance, the labor efficiency variance, and the total direct labor cost variance for October and for November. Interpret the October direct labor variances.
You purchase 30 bonds with a coupon rate of 5 7/8 and a current market price of 89. The commission charge is $15.00 per bond. The date of the transaction is September 1, and the bond pays interest on January 1 and July 1. Evaluate what is your tot..
If the corporation uses the straight -line method of amortization of bond discount,the amount of bond intrest expense to be recognized on July 1,2010 is ?
Record the 20X1 entries for the purchase of the machine and the lease to Sunshine Engineering Company on the books of Grande Machinery Company. Provide elimination entries that would be made on the 20X1 consolidated worksheet.
What guidance would you give a new project manager on selecting the most appropriate methodology, tools, and techniques for a project?
Evaluate owner's equity at the end of 2008 and 2009? and If Nobel paid dividends of $100 in 2009, and made no stock issues. what must have been net income during the year?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd