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Kim presently owns a business that processes and distributes fresh vegetable to local supermarkets. She is looking to expand her business by acquiring the Lackawaxen Emu Oil Company, a manufactures of makeup and beauty products contain emu oil. Kim looks over the financial statements of Lackawaxen and notice that the number of day's sales in inventory is five times higher than in her fresh vegetable business. Kim contacts her accountant Justin Maul, CPA, and asks him to look into this matter further. Justin informs Kim that she shouldn't be concerned with the difference in the number of day's sales in inventory between her fresh vegetable business and the emu-oil-based beauty products business. Explain why Justin Maul wasn't concerned.
On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by $
The process of adjusting the bond interest expense account for any premium or discount is called amortization of the premium or discount
Teague Company purchased a latest machine on January 1, 2012, at a cost of $150,000. The machine is expected to have an 8-year life and a $15,000 salvage value. The machine is expe
How would I plot these problems in a T-account? d. received applications from three students for a 4-week secretarial program and 2-students for a ten day keyboarding course. The s
tugade ,masinsin and biore are all famous athletes who have been operating a sports memorabilia store for how many years .The partnership decided to liquadate its operation rather
Ratio Analysis : A 'Ratio' is clear as an arithmetical/quantitative/ numerical relationship between two numbers. Ratio analysis is a extremely significant and age old method of f
The type of accounting concerned with providing information and analyses to managers within the organization is referred to as
What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou
Q. Show Transactions affecting the income statement? To continue to exist a business must be profitable. This signifies that the revenues earned by providing goods and services
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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