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subscriptionshorse country living publishes a monthly magazine for which a 12-month subscription costs 30 all
working backward depreciationpolk corp purchased new store fixtures for 55000 on january 31 2012 polk depreciates
depreciationon july 1 2014 dexter corp buys a computer system for 260000 in cash assume that the computer is expected
working backward prepaid insuranceon december 31 2014 baxter company reported 8000 in prepaid insurance on its balance
prepaid rent-quarterly adjustmentson september 1 northhampton industries signed a six-month lease for office space
office suppliessomerville corp purchases office supplies once a month and prepares monthly financial state- ments the
accruals and deferralsfor the following situations indicate whether each involves a deferred expense de a deferred
comparing the income statement and the statement of cash flowson january 1 campus internet connection opened for
closing entriesroyston realty reported the following accounts on its income statementcommissions earned54000travel and
preparation of a statement of retained earnings fromnbsp closing entriesfisher corporation reported a retained earnings
trial balancethe following account titles arranged in alphabetical order are from the records of hadley realty
rent receivablehudson corp has extra space in its warehouse and agrees to rent it out to stillwater company at the rate
interest receivableon june 1 2014 microtel enterprises lends 60000 to maxidriver inc the loan will be repaid in 60 days
property taxes payable-annual adjustmentslexington builders owns property in kaneland county lexingtons 2013 property
interest payable-quarterly adjustmentsglendive takes out a 12 90-day 100000 loan with second state bank on march 1 2014
interest payablebillings company takes out a 12 90-day 100000 loan with first national bank on march 1 2014required1
wages payabledenton corporation employs 50 workers in its plant each employee is paid 10 per hour and works seven hours
costs and expensesthe following costs are incurred by a retailer1 point-of-sale systems in a retail store2
redemption of bondsreynolds corporation issued 75000 face value bonds at a discount of 2500 the bonds contain a call
the following terms relate to independent bond issuesa 500 bonds 1000 face value 8 stated rate 5 years annual
issue priceyoungblood inc plans to issue 500000 face value bonds with a stated interest rate of 8 they will mature in
relationshipsthe following components are computed annually when a bond is issued for other than its face value cash
deferred tax appendixon january 1 2014 deng company purchased an asset for 100000 for financial accounting purposes the
long-term liabilities and cash flowin what category of the statement of cash flows should the following items be shown
will able corporations balance sheet showed the following amounts current liabilities 10000 bonds payable 3000 lease