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Ajustment for accrued fees was omitted at march 31, the end of the current year. indicate which items will be in error, because of the omiision on the income statement for the current year and the b
What is the adjustment to record the accrued fees? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.
Activity method (working hours) for 2012. (Round cost per hour to 2 decimal places, i.e. 12.25 and and final answer to 0 decimal places, i.e. 25,240.)
At the end of february, the first month of the business year, the usual adjustment transferring rent earned to a revenue account from the unearned rent account was omitted.
A television set costs $500 in the United States. The same set costs 550 euros in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar?
If net fixed assets in 2007 = $19,550, if net fixed assets in 2008 = $28,974, if depreciation on the 2007 income statement is $732 and if depreciation on the 2008 income statement is $929.
Six-month T-bills have a nominal rate of 7%, while default free Japanese bonds that mature in 6 months have a nominal rate of 5.5%. In the spot exchange market, 1 yen equals $0.009.
Accrued salaries of $4950 owed to employees for December 30 and 31 are not comsidered in preparing the financial statements for the year ended Decenber 31, 2010.
The Tsetsekos Company was planning to finance an expansion. The principal executives of the company all agreed that an industrial company such as theirs should finance growth by means of common stoc
Issuance and Retirement of Bonds; Income Statement Presentation) Holiday Company issued its 9%, 25-year mortgage bonds in the principal amount of $3,000,000.
Earnings after taxes $580,000 in year 2007 with 400,000 shares of common stock, in 2008 the firm issued 35,000 new shares earnings after taxes increased by 25 percent compute earning per share for
Include a description of the evidence, the accounting sampling and testing procedures used, and a brief description of the value of the audit report. You may use pp. 62 - 63 of Ch. 3 in Auditing and
On June 30, the balance in Wilson Builder's checkbook and Cash account was $12,837.18. The balance on the bank statement on the same date was $15,084.06.
How do you account for the foolowing scenario: Saturday turns out to be a typical hot summer day. Next to Jim's booth is the ‘Corvallis Solar Energy Club' who are proudly displaying their refl
X Corp. had 400,000 shares of $30 par c/s and 40,000 shares of $100 par $6 cumulative convertible p/s outstanding for the entire year ended Dec.31,2010. Each share of p/s is convertible into 5 shar
How do you account for the clean up fee in this scenario: She also says that she has a booth reservation and he would have to pay the da Vinci show management a $450 booth fee on July 20th and a r
During fiscal year had net income of $100,000 and 50,000 shares of c/s and 10,000 shares of p/s outstanding. Declared and paid dividends of$.50 per share to c/s and $6 to p/s.
Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling
Assume that in 2009 sales increase by 10 percent and cost of goods sold increases by 25 percent. The firm is able to keep all other expenses the same.
Prepare an income statement for the division using the classifications shown in this chapter. Using this income statement, calculate the division's gross profit percentage.
Compute ending inventory at September 30 using FIFO, LIFO, and average cost. (Round average cost per unit to 2 decimal places, e.g. 10.50.
Listor Company made 3,800 bookshelves using 23,320 board feet of wood costing $290,000. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12 per board foot.
On January 1st, Susan and Roman formed a partnership called Research Consultants. Each partner invested $50,000 cash on that date.
Included in long-term investments are ten-year U.S. Treasury bonds that mature March 31, 2012. The bonds were purchased November 20, 2011.
Calculate the effect on the company's total net operating income of buying part G18 from the supplier rather than continuing to make it inside the company.