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Q : Using the information below prepare a classified balance....

Accounting Basics :

financial accounting practice test -1 using the information below prepare a classified balance sheet income statement

Q : Bradley is married files a joint tax return claims both....

Accounting Basics :

question - bradley has two college-age children clint a freshman at state university and abigail a junior at northwest

Q : On 30 june 2014 the directors declared an ordinary dividend....

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question - on 1 july 2013 abc limited provided a total of 5 million options to three of its key executive managers the

Q : Craig was worried about his performance evaluation what do....

Accounting Basics :

auditing question - a time budget is always prepared for audit engagements number of hours are estimated for various

Q : The date is september 25 what should jake do how much he....

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question - jakes big n sporting goods sells sporting goods and clothes in omaha on september 18 jake the owner

Q : Kevins electronics inc delivered 1200 custom-designed....

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question - kevins electronics inc delivered 1200 custom-designed computer monitors to its customer gadgets galore the

Q : Postage expense 1000 lunch delivery 1488 miscellaneous....

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question - candy lane established a 125 petty cash fund when the fund balance reached 1278 from the following simphiwe

Q : The salvage value will remain the same record the....

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question - on january 2 2017 the matthew band acquired sound equipment for concert performances at a cost of 69000 the

Q : The rudolph corporations inventory on december 31 2014 what....

Accounting Basics :

questions -q1 french hens manufacturing co purchased a ten-ton draw press at a cost of 180000 with terms of 515 n45

Q : Journalize the adjusting entry required at the end of the....

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question - the supplies account had a beginning balance of 8340 and was debited for 4670 for supplies purchased during

Q : Amortization of prior service costs due to increase in....

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question - on january 1 2015 newlin co has the following balancesprojected benefit obligation 2100000fair value of

Q : The partner responsible for tax matters on the alpha inc....

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question - the partner responsible for tax matters on the alpha inc account has asked you to check the final

Q : Carl and dan agree to form a partnership on january 2 2016....

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question - carl and dan agree to form a partnership on january 2 2016 each will get a 50 share of profit carl will

Q : Betta inc has 100 shares outstanding compute bobs treatment....

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question - betta inc has 100 shares outstanding as of january 1 2016 betta had 200000 earnings and profits from prior

Q : Income tax paid federal regular 62000 amt 16000 new york....

Accounting Basics :

question - review of aces financial reports and information revealed the followingsales 24 millionopening inventory

Q : If sales are 100000 net income is 22700 beginning....

Accounting Basics :

question - if sales are 100000 net income is 22700 beginning stockholders equity is 88000 and ending common

Q : The company also has 60000 in current liabilities what is....

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question - a company has 56000 in cash 12000 in accounts receivable 25000 in short term investments and 100000 in

Q : Using the direct method determine the cash payments for....

Accounting Basics :

question - operating expenses for the year other than depreciation were 563000 accrued expenses decreased by 47000

Q : Using the indirect method determine the cash flow from....

Accounting Basics :

question - prestige autos records show net income of 30000 depreciation expense of 10000 and cash dividends paid of

Q : What is the amount that will be credited to paid-in capital....

Accounting Basics :

question - arc electric inc has 400000 shares of 10-par common stock outstanding they have declared a 5 stock dividend

Q : How much will be distributed to the preferred and common....

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question - liberty company declared a 40000 cash dividend to shareholders the company has 5000 shares of 20-par 6

Q : If the trade-in value received for the old equipment is....

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question - equipment costing 118000 has accumulated depreciation of 92000 the equipment is a trade-in for new equipment

Q : How much will be depreciated in year five and in year six....

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question - after four years a machine had an accumulated depreciation of 38000 the machine originally had an

Q : What is the required journal entry to record estimated....

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question - bestway inc had credit sales of 142000 for the period the balance in allowance for doubtful accounts is a

Q : If the company estimates 6 of credit sales will be....

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question - a company has 317000 in credit sales the company uses the allowance method to account for uncollectible