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Type: Posts; User: CaptainForest
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Answer is C.
You list all the accounts (unadjusted trial balance)
Then adjusting entries
Closing entries are not shown on worksheet
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You always debit the depreciation expense, and credit accum depreciation
Therefore, answer B
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It would be an increae in the revenue accounts.
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Assets = Liabilities + Equity
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So your books say you should have 880, and yet you only have 325 left.
Therefore you used up 880-325 = 555
Therefore, the adjusting JE would be:
Dr. Supplies Expense 555
Cr. Supplies 555
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If you are investing Cash into the shares of a company, Able...
THen your cash will go down, and your capital stock will go up.
Therefore, answer A
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True is the correct answer.
One example could be, you debit Accounts Receivable for 200 instead of a debit to Cash
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Sure, why would it not be ethical? The transaction is being recorded.
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So from your question, it sounds like you are specifically referring to just employee stock options. In that case, there is no reason not to. Do you know of some employees who aren’t taking...
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Best way to show it to you would be an example.
Example 1. Costs are declining.
The first 100 units purchases on Jan 1 were at $5 per unit. So a total value of $500.
The next 100 units were...
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2007 EPS:
Net Income 762,500 – Preferred Dividends 65,000 = 697,500 (which is available to common shareholders). Divide that by how many shares you have which is 100,000, and you have how much...
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2005 Amortization:
250,000 / 25 = 10,000
Therefore, it will also be 10,000 for the 2006 amortization expense.
2007 Amortization:
Value of the Machine to be amortized = 250,000 – 10,000 –...
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I agree with Gem_22205.
SOL relates to how long they can wait until they charge you with a crime. They have already charged you.
A bench warrant will NEVER expire. You could get arrested for...
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You will NOT go to jail for not paying your debts. Well, maybe you will go to jail if you do not pay your taxes, but as for the debts you described, you won't go to jail.
I also see no reason...
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So let's say the house was worth 23,000 at the time of your wife's mother's death.
You sold it for 25,000.
Therefore, there is a capital gain of 2,000. Capital gains are taxed at 50%, so the...
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Yes, the sales are $8 million
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You would…
Dr. Cash 1,000
Cr. A/R – Client 1,000
Dr. Legal Fees/Expense 300
Cr. Cash 300
You can write the above 2 JE as just 1 entry, netting the cash amount. I just broke it out so you...
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What happened to the vehicle? Did you sell it? Just take it to a garbage lot?
There is most likely accumulated amortization on it.
So, the JE is:
Dr. Accumulated Amortization...
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Yes, it is correct.
Well done!
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First, you do have a contract with the collection agency (most likely).
For example, you owe money on a credit card. You have a contract with the credit card company. The credit card company...
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Let us assume Rent is $100 a month.
On Dec. 1, the JE is
Dr. Prepaid Rent 200
Cr. Cash 200
This JE is made because you have prepaid 2 months rent, for the MONTH of Dec and Jan.
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Unearned Revenue most likely, assuming the cash received has not yet been earned.
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J 2oz – sell .05
R 1oz - .15
Did you get the numbers wrong? You make more money per R biscuit….. and it takes LESS oz. of flour to use. So make 200 of the R biscuits.
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The calculation is GM / Sales
Dividends you pay out have no barring on your Gross Margin.
So, 39.9% is the correct answer….GM / Sales
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So according to your chart…the outstanding shares would be:
6,000 shares from the $2 pref
47,000 shares from Common Stock (53,000 total, - 6,000 that you have bought back)
So that would be...
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1)
Dr. Sales Returns and Allowances 800
Cr. Accounts Payable – Credit Note to customer 800
2)
Dr. Accounts Receivable
Cr. Purchase Returns and Allowances
3)
Since have received NO Cash,...
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We know that the break even point is:
Sales 1,000,000
VC something (12 per unit)
FC 400,000
Net Income 0
Therefore, VC must be 600,000
Therefore, how many units were sold?
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The “indeterminate lives” refers to the actual asset.
So, a cost related to Goodwill for example. Goodwill has no specific end life. It could remain on the books forever.
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Dr. New Car
Dr. Accumulated Amortization Old Car
Cr. Old Car
And whatever other journal entries are needed based on the facts of the case...
So you will probably have a Cr. To Cash
And...
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July 1, 1991 Bought Patent for 114,000
July 1 ,1991 Legal Fees 6,000
Total July 1, 1991 120,000
Patent Life is 17 years.
Therefore, amortization expense per full year is: 120,000 / 17 =...
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Since you have signed no such non-compete clause, then you have no legal obligation once you leave. You may then compete against your former employer.
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So let me see if I understand this correctly.
A man representing a charity comes to your friends house. Your friend donates 2 parrots to the charity, in exchange that the man not disclose the...
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Wait a second….you found this our right after you married her, 16 years ago?
Then you should have left her then…not stuck around for 16 years and had not one, byt two children.
Sorry dude, you...
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On March 31 you prepaid for 1 year.
Therefore, on December 31, 9 months have passed, so 9 months out of 12 months have been used up of the insurance.
Therefore... insurance expense is 9/12 of...
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Scott,
The age difference clause of 5 years pertains ONLY to 14 and 15 year old. The base age which was 14 is now 16. Therefore once a person turns 16, they can have sex with anyone they want...
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Let me clear up the Canadian law for you.
The age of consent is 16 (or soon to be 16). That means, if you are 16 or older, you can have sex with anyone. So a 57 year old can have sex with a 16...
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They appeared to have done nothing wrong to me.
Had you refused to go back in…they could have either only a) let you go or b) forcibly detained you.
If you stole from them, they can detain you....
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No it will not.
Here is why…
If you die, and have not kept up on your premiums, then they don't have to pay out an insurance policy.
Therefore, they don't care about your financial history...
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Please see the identical problem (and answer) posted by user dora1223 at the following link:
https://www.askmehelpdesk.com/accounting/how-do-you-get-beggining-owners-equity-212783.html
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Opening
+ Investments
- Withdrawals
- Net Loss
= Closing
Therefore, Opening is 5,435
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Cash Collections in September:
July = 10% x 100,000
August = 25% x 80,000
September = 65% of 110,000
Total = 101,500
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1) Maybe, consult with an attorney
2) lawyer and attorney is the same thing... yes, get one. Try legal aid. You said you are a student... most universities in canada (well here in ontario anyways)...
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So some random, unassociated person gave your company some asset for free?
Dr. Asset (at its fair market value)
Cr. Shareholder's Equity
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Dr. Cash
Cr. Dividend Revenue
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Yeah, that is unearned revenue. (regarding the income treated as a liability)
When someone pays you in advance, and you have not earned the revenue yet, but have received the cash upfront.
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The first part is to determine what it currently costs to manufacture this product.
They told us that the costs are:
(1) circuit boards and other components $30,000
(2) wages for assembly line...
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Current Assets:
Cash $179,500
Accounts receivable $123,000
Supplies $3,750
Fixed Assets:
Buildings $418,500
Land $130,000
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I thought a judgment could only last for a maximum of 20 years in Ontario.
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