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assume that the following are independent situations recently reported in the wall street journal1 general electric ge
singh enterprises which started business on 1 january 2007 has an accounting year to 31 december and uses the
in its year-end earnings announcement press release longwell corp announced that its earnings increased by 15 million
to encourage bookstores to buy a broader range of book titles and to discourage price discounting the publishing
gribble company reported the following amounts in 2012 net income c150000 unrealized gain related to revaluation of
the trial balances shown on page 208 are before and after adjustment for amit company at the end of its fiscal yearamit
selected accounts of sandin company are shown heresupplies expensesalaries and wages payable31-jul75031-jul1000salaries
rolling hills golf inc was organized on july 1 2012 quarterly financial statements are prepared the trial balance and
the following selected data are taken from the comparative financial statements of superior curling club the club
gil vogel started his own consulting firm vogel consulting on june 1 2012 the trial balance at june 30 is as
peng company accumulates the following adjustment data at december 31a service revenue earned but unbilled totals 600b
mt horeb company a ski tuning and repair shop opened in november 2011 the company carefully kept track of all its cash
assume the same information as in be5-8 and also that logan company has beginning inventory of 60000 ending inventory
corliss ford director of marketing wants to reduce the selling price of his companys products by 15 to increase market
companies prepare balance sheets in order to know their financial position at a specific point in time this enables
a review of the ledger of felipe company at december 31 2012 produces the following data pertaining to the preparation
worthmore bank and trust is considering giving madsen company a loan before doing so it decides that further
early in 2012 aragon company switched to a just-in-time inventory system its sales and inventory amounts for 2011 and
bardell company sells three different categories of tools small medium and large the cost and market value of its
laib camera shop inc uses the lower-of-cost-or-market basis for its inventory the following data are available at
this information is available for pepsico inc for 2007 2008 and 2009in millions200720082009beginning
the following comparative information is available for prasad company for 2012lifofifosales revenue8600086000cost of
klumb inc uses a periodic inventory system its records show the following for the month of may in which 74 units were
on december 1 loprice electronics has three dvd players left in stock all are identical all are priced to sell at 85
katz hat shop received a shipment of hats for which it paid the wholesaler 2940 the price of the hats was 3000 but katz