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suppose suzie estimates uncollectible accounts to be 10 of accounts receivable which does not include the 6000 note
tack inc reported a retained earnings balance of 150000 at december 31 year 1 in june year 2 tack discovered that
conn co reported a retained earnings balance of 400000 at december 31 year 1 in august year 2 conn determined that
luge co which began operations on january 2 year 1 appropriately uses the installment sales method of accounting the
regal department store sells gift certificates redeemable for store merchandise that expire one year after their
on october 1 year 1 acme fuel co sold 100000 gallons of heating oil to karn co at 3 per gallon fifty thousand gallons
on december 31 2009 byte co had capitalized software costs of 600000 with an economic life of four years sales for 2010
accounting assignmentpurpose of assignment this take home quiz has been designed as a review of the pre-requisite
miller company acquired a machine for 420000 on june 30 2008 the machine has a seven-year life no salvage value and was
on january 2 2010 lem corp bought machinery under a contract that required a down payment of 10000 plus twenty-four
on march 31 2010 winn company traded in an old machine having a carrying amount of 16800 and paid a cash difference of
on july 1 2010 balt co exchanged a truck for twenty-five shares of ace corps common stock on that date the trucks
in yew cos year 1 annual report yew described its social awareness expenditures during the year as followsthe company
on january 1 year 1 warren co purchased a 600000 machine with a five-year useful life and no salvage value the machine
on january 1 year 1 bray company purchased for 240000 a machine with a useful life of ten years and no salvage value
at december 31 year 1 kale co had the following balances in the accounts it maintains at first state bankchecking
under state law acme may pay 3 of eligible gross wages or it may reimburse the state directly for actual unemployment
on december 31 2011 largo inc had a 750000 note payable outstanding due july 31 2012 largo borrowed the money to
fenn stores inc had sales of 1000000 during december 2011 experience has shown that merchandise equaling 7 of sales
on december 31 2009 bit co had capitalized costs for a new computer software product with an economic life of five
clark co had the following transactions with affiliated parties during year 1sales of 60000 to dean inc with 20000
on january 1 year 2 pane corp exchanged 150000 shares of its 20 par value common stock for all of sky corps common
on january 1 year 1 palm inc purchased 80 of the stock of stone corp for 4000000 cash prior to the acquisition stone
bros corp has several subsidiaries that are included in its consolidated financial statements in its december 31 year 1
assume that simple co had credit sales of 248000 and cost of goods sold of 148000 for the period simple uses the aging