Question 21 - Examen #1 - CONT3105
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Examen #1 6 Submitted 70/104 Total points awarded ~ Help Exit 21 Los asientos de cierre al final del periodo contable resultan en: 0/2 points awarded Multiple Choice Q poner en cero los balances de las cuentas temporeras. entradas de ajustes adicionales. poner en cero los balances de las cuentas permanentes. trasladar el balance de la cuenta de Dividendos a la cuenta de Acciones Comunes (“Common Stock”). O @ O Explanation La contestacion correcta es: Solution poner en cero los balances de las cuentas temporeras. % < Prev 21 of 52 a8 Next »
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Please answer the 10 questions thank you
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AR prior balance
AR current balance
42
252
77
330
42
439
9
119
Find the AR turnover
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ACC 122 Fall 2020Comprehensive ProjectBestValue Corporation's Trial Balance at December 31, 20XX is presented below.All 20XX transactions have been recorded except for the items described on the next page.Debit CreditCash $ 109,890Accounts Receivable 28,789Inventory 25,540Debt Investments 0Land 55,674Buildings 215,850Equipment 75,120Allowance for Doubtful Accounts $ 1,027Accumulated Depreciation-Buildings 63,306Accumulated Depreciation-Equipment 16,048Accounts Payable 35,278Interest Payable 0Unearned Rent Revenue 48,900Dividends Payable 0Income Tax Payable 0Bonds Payable 0Discount on Bonds Payable 0Common Stock ($2 par) 29,200Paid in Capital in Excess of Par-Common Stock 44,580Preferred Stock ($60 par) 0Paid in Capital in Excess of Par-Preferred Stock 0Retained Earnings 107,904Treasury Stock 0Cash Dividends 0Sales Revenue 776,068Rent Revenue 0Gain on Sale of Land 0Bad Debt Expense 0Interest Expense 0Cost of Goods Sold 478,542Depreciation Expense 0Other Operating Expenses 53,274Salaries…
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OW21 Onlin teachin x
N2 | Online teaching
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Cash
Inventory
Land
Notes Payable
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Xi Lin, Capital
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Journalizing Partner's Original Investment
assumed a $57,000 note payable owed by Lin that was used originally to purchase the land.
Xi Lin contributed land, inventory, and $35,000 cash to a partnership. The land had a book value of $79,000 and a market value of $152,000. The inventory had a book value of $53,100 and a market value of $48,900. The partnership also
Required:
Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank.
35,000
53,100 X
152,000
48,900
X
79,000 X
57,000
Pink Playful Femini...
Check My Work 5 more Check My Work uses remaining.
&
MX
Check My Work
Record the assets at their current values, and record the liability at its current value. Lin's Capital…
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Multiple choice pls answer
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On November 1, 2022, the account balances of Blue Spruce Corp. were as follows.
No.
Debits
No.
Credits
101
Cash
$2,880
154
Accumulated Depreciation-Equipment
$2,400
112
Accounts Receivable
5,100
201
Accounts Payable
3,120
126
Supplies
2,160
209
Unearned Service Revenue
1,440
153
Equipment
14,400
212
Salaries and Wages Payable
840
311
Common Stock
12,000
320
Retained Earnings
4,740
$24,540
$24,540
During November, the following summary transactions were completed.
Nov. 8
Paid $2,040 for salaries due employees, of which $840 is for October salarles.
10
Received $4.096 cash from customers on account.
12
Received $3,720 cash for services performed in November.
15
Purchased equipment on account $2,400.
17
Purchased supplies on account $840.
20
Paid creditors on account $3,240.
22
Paid November rent $480.
25
Paid salaries $2,040.
27
Performed services on account and billed customers $2,280 for these services.
29
Recelved $720 from customers for future service.
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- X
December 1
Ritchie sold 14 go-karts on account. The selling price of each go-kart was $1,900;
the cost of goods sold for each was $400.
December 5 Ritchie received notice of a class-action lawsuit being filed against it. The lawsuit
claims that Ritchie's go-karts have engine defects that appear after the warranty
period expires. The plaintiffs,want Ritchie to replace the defective engines and pay
damages for the owners' losé of use. The cost of replacing the engines would be
approximately $380,000 (not including any damages). Ritchie's attorney believes
that it is reasonably possible that Ritchie will lose the case, but the attorney cannot
provide a dollar estimate of the potential loss amount.
December 20 Ritchie performed repairs due to product warranty complaints for two go-karts sold
earlier in the year. Ritchie's cost of the repairs, paid in cash, was $850.
December 22 An individual claims that he suffered emotional distress from a high-speed ride on a
Ritchie…
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<
6:26
Assignment Details
Fall 2024 Introduction to Ethnic Studies (ESTU-1...
Description
Assimilation and the Native
American
In this assignment you are to read Chapter
2- U.S. Federal Policy: Assimilation Verses
Cultural and Sovereignty, 1870s-1950s
Instructions
You are to write 1-3 paragraphs on:
1. Why was it important for the
colonizers to Americanize the Native
American?
2. Address wny Christians promoted
Assimilation.
3. Discuss the difference between
Assimilation and Cultural Autonomy.
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SIS AND DESIGN OF-2020/2019-3-3
ACCOUNTING INFORMATION SYSTE
Summer Semster
ANALYSIS AND DESIGN OF ACCOUNTING INFORMATION SYSTEMS(2)-1-2020
الامتحان النصفي
Which entity is most likely to be part of both the payroll cycle
Pand the expenditure cycle
اختراحد الخيارات
a. Disburse Cash
8.
b. Receive Goods
.c. Inventory o
12
d. Customer0
16
20
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ACC C102-101K FIN ACCTG AND RPRTG 2 | W/S | 7:3...
Problem #1 (adapted)
Lester and Stephen formed a partnership with
capital contributions of P300,000 and P700,000,
respectively. During its first year of operations,
the partnership earned a profit of P200,000.
Prepare a schedule showing the division of profit
between the partners under each of the following
independent assumptions:
1. Profit is divided equally.
2. There is no profit or loss sharing agreement.
3. A monthly salary of P8,000 will be given to
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4. A monthly salary of P8,000 will be given to
Lester, 6% interest will be allowed on the
capital balances of each partner; and the
balance divided equally.
Problem #2 (adapted)
Loster a
nhon formed
partnerchin with
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16
1:24 il k M
Brokeroge
O Brokerege
Purchase (+)
Sell (-)
= 250 XOSp = 7125
Purchae cort pthee = 2So+125 = 7 251.25
No d ha
75375
251.25 300 the
O Brokeroge
720 x042 -
Sallig Pice pn thoe =
720 - 288 = 717
No ot Ahey
420272
717.12
Published on Mar 20, 2020
1)Mr. Shah invested Rs. 75,375 to purchase equity
shares of a company at market price of Rs. 250
through a brokerage firm, charging 0.5% brokerage.
The face value of a share is Rs. 10. How many
shares did he purchase ?
2) Mr. Nene received Rs. 4,30,272 after selling
shares of a company at market price of Rs. 720,
through Sharekhan Ltd., with brokerage @ 0.4%. The
face value of the share is Rs. 10. Find the number of
shares he sold.
3)Aniket invested Rs. 61,357.5 in equity shares of
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Later he sold these shares at a market price of
Rs. 160 per share. He paid 1% brokerage on each
transaction. Find his net gain and also the percent
gain.
Source : BUSINESS MATHEMATICS - MANAN
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Chart of Accounts
General Journal
Instructions
Delmarva Company, during its first year of operations in 2020, reported taxable income of $170,000 and pretax financial income of $100,000. The differenc
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Year
Depreciation
Warranty Expenses
2021
$10,000
$20,000
2022
20,000
16,000
2023
40,000
4,000
Enacted tax rates are 30% for 2020, 35% for 2021 and 2022, and 40% for 2023.
Required:
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TB MC Qu. 7-111 Kansas Enterprises purchased equipment for...
48
Kansas Enterprises purchased equipment for $75,500 on January 1, 2021. The equipment
$9,000 at the end of five years.
Using the double-declining balance method, the book value at December 31,2022, wou
36
Multiple Cholce
$31,660.
$27180
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require an effective-interest rate (market
rate) of 10%. Calculate the amount of
discount or premium that will be recognized
when the company issues the bonds
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A net loss will result during a time period when
expenses exceed revenues.
revenues exceed expenses.
liabilities exceed assets.
dividends exceed investments.
Save for Later
OO O O
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Pttcell ull a
O D%37 O16:02
O PENDİNG (?
Wednesday, Feb 03, 2021
BUSİNESS • ACCOUNTİNG
which of the following application would an
auditor apply to determine the probability
of a corporation's account balance being in
error?
A) overinvolvement rations
B) probability rules
C) bayes theorem
D) emprical formula
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Providing for Doubtful Accounts
At the end of the current year, the accounts receivable account has a debit balance of $6,800,000 and sales for the year total $81,500,000.
a. The allowance account before adjustment has a debit balance of $68,250. Bad debt expense is estimated at % of 1% of sales.
b. The allowance account before adjustment has a debit balance of $68,250. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of
$575,000.
c. The allowance account before adjustment has a credit balance of $45,000. Bad debt expense is estimated at % of 1% of sales.
d. The allowance account before adjustment has a credit balance of $45,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of
$450,000.…
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- OW21 Onlin teachin x N2 | Online teaching esource from Cengag... w.com eBook Cash Inventory Land Notes Payable tMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false V Xi Lin, Capital Feedback ps Panthère de Cartier... ✓ Show Me How Journalizing Partner's Original Investment assumed a $57,000 note payable owed by Lin that was used originally to purchase the land. Xi Lin contributed land, inventory, and $35,000 cash to a partnership. The land had a book value of $79,000 and a market value of $152,000. The inventory had a book value of $53,100 and a market value of $48,900. The partnership also Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. 35,000 53,100 X 152,000 48,900 X 79,000 X 57,000 Pink Playful Femini... Check My Work 5 more Check My Work uses remaining. & MX Check My Work Record the assets at their current values, and record the liability at its current value. Lin's Capital…arrow_forwardMultiple choice pls answerarrow_forwardOn November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4,740 $24,540 $24,540 During November, the following summary transactions were completed. Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salarles. 10 Received $4.096 cash from customers on account. 12 Received $3,720 cash for services performed in November. 15 Purchased equipment on account $2,400. 17 Purchased supplies on account $840. 20 Paid creditors on account $3,240. 22 Paid November rent $480. 25 Paid salaries $2,040. 27 Performed services on account and billed customers $2,280 for these services. 29 Recelved $720 from customers for future service.arrow_forward
- More info - X December 1 Ritchie sold 14 go-karts on account. The selling price of each go-kart was $1,900; the cost of goods sold for each was $400. December 5 Ritchie received notice of a class-action lawsuit being filed against it. The lawsuit claims that Ritchie's go-karts have engine defects that appear after the warranty period expires. The plaintiffs,want Ritchie to replace the defective engines and pay damages for the owners' losé of use. The cost of replacing the engines would be approximately $380,000 (not including any damages). Ritchie's attorney believes that it is reasonably possible that Ritchie will lose the case, but the attorney cannot provide a dollar estimate of the potential loss amount. December 20 Ritchie performed repairs due to product warranty complaints for two go-karts sold earlier in the year. Ritchie's cost of the repairs, paid in cash, was $850. December 22 An individual claims that he suffered emotional distress from a high-speed ride on a Ritchie…arrow_forwardHcs/380 week 4 terminology matching???arrow_forward< 6:26 Assignment Details Fall 2024 Introduction to Ethnic Studies (ESTU-1... Description Assimilation and the Native American In this assignment you are to read Chapter 2- U.S. Federal Policy: Assimilation Verses Cultural and Sovereignty, 1870s-1950s Instructions You are to write 1-3 paragraphs on: 1. Why was it important for the colonizers to Americanize the Native American? 2. Address wny Christians promoted Assimilation. 3. Discuss the difference between Assimilation and Cultural Autonomy. ◄ Previous Submit Assignment Next ▸ 2 000 Dashboard Calendar To Do Notifications Inboxarrow_forward
- ull Zain JO ? 6:10 PM @ 42% 4 Manar Select 44 Photos l paiall e agama yb 31714120009 SIS AND DESIGN OF-2020/2019-3-3 ACCOUNTING INFORMATION SYSTE Summer Semster ANALYSIS AND DESIGN OF ACCOUNTING INFORMATION SYSTEMS(2)-1-2020 الامتحان النصفي Which entity is most likely to be part of both the payroll cycle Pand the expenditure cycle اختراحد الخيارات a. Disburse Cash 8. b. Receive Goods .c. Inventory o 12 d. Customer0 16 20 0:1 تم دخولك بصفة 09 0 31714120 طارق محمود عبد المنعم السلاق )خروج( SIS AND DESIGN OF ACCOUNTING INFORMATION SYSTEMS(2)-1-2020/2019-3-3 انتقل إلى السمة القالب المعيارياة 6:29 PM uprattempt=Y paiall c 3gas By la 31714120009arrow_forwardSolvearrow_forwardQuestion on attachement BTN 13-6arrow_forward
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