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For each of the transactions in M2- 9 (including the sample), write the journal entry using the format shown in this chapter (omit explanations).
a. (Sample) Borrowed $ 3,940 from a local bank on a note due in six months.
b. Received $ 4,630 cash from investors and issued common stock to them.
c. Purchased $ 1,000 in equipment, paying $ 200 cash and promising the rest on a note due in one year.
d. Paid $ 300 cash for supplies.
e. Bought and received $ 700 of supplies on account.
Wertz Corporation decided at the beginning of 2010 to change from the completed-contract method to the percentage-of-completion method for financial reporting purposes.
Calculate the number and cost of goods available for sale. Calculate the number of units in ending inventory. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
riverside industries has threeproduct lines a b and c. the following information
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juans taco company has restaurants infive college towns. juan wants to expand into austin and college station andneeds
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