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after the closing entries are posted to the ledger each revenue account will have a zero balance a a zero balance b a debit balance c a credit
adjusting entries you have been retained to examine the records of kathys day care center as of december 31 20x3 the close of the current
these questions are based on the following information and should be viewed as independent situations popper co acquired 80 of the common stock of
a bond sinking fund investment is started on january 5 2010 by transferring 10000 in cash to the fund this 10000 is invested and earns 1100 during
1 if market interest rates are higher than the rate offered on the bonds being sold they will be sold at a a premium b a discount c face
a department transferred 7000 units to the finished goods storeroom during a month there was no beginning work in process inventory but 500 units
a light truck is purchased on january 1 at a cost of 27000 it is expected to serve for eight years and have a salvage value of 3000 calculate the
on october 31 a fund accrued 200000 for legal fees in november 2000 the fund received an invoice for october 2008 legal fees for an amount of 2500
on june 1st green pea inc purchased 1200 worth of supplies on account how does this transaction affect green peas accounts a increase supplies and
what is the mission of the accounting and finance functional
can a buyer still avail the 2 discount if heshe partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of
find the balance at the end of 6 years of 5000 investment in an account with a nominal annual rate of interest of 25 compounded quarterly over the
sam is trying to decide whether he should operate his business as a c cor- poration or as an s corporation due to potential environmental hazard
annual interest of 5 paid if balance exceeds 800 7 monthly fee if account falls below minimum balance average monthly balance 1160 account falls
abc company uses cash basis accounting for its records during 2010 abc collected 400000 from its customers made payments of 300000 to its suppliers
on january 1 2012 lexmark companys accounts receivable account had a debit balance of 10000 during january 2012 the company billed customers for
dividing partnership income desmond drury and ty wilkins have decided to form a partnership they have agreed that drury is to invest 44700 and
a recent cash budget showed estimated cash receipts of 159000 estimated cash disbursements of 155000 and a desired ending cash balance of 6000 with
why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising
you received an email from carl the operations manager from the california container division they produce packaging for cell phones carl
the total revenue of the month of june amounted to 6500 total expenses amounted to 3500 and withdrawals amounted to 600 the net income for the
why is the cash basis of accounting not used when preparing financial
i need help understanding my accounting 205 class would some one please help me understand what i am having such a hard time