10. Internal reports must be communicated a. daily. b. monthly. C. annually. d. as needed.

Use the following items taken from the financial statements of the Postal Service for the year ending December 31, 2018 to answer questions:  Accounts payable ..............................................................$10,000  Accounts receivable ............................................................11,000  Accumulated depreciation – equipment ..........................28,000  Advertising expense ............................................................21,000  Cash ......................................................................................14,000  Owner’s capital (1/1/18) ...................................................105,000  Owner’s drawings ...............................................................14,000  Depreciation expense ........................................................12,000  Insurance expense ...............................................................3,000  Note payable, due 6/30/19…

12. Calculating EAR Find the EAR in each of the following cases. Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 7.8% Quarterly Monthly Daily Semiannually 15.3 12.4 11.4

Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,2018 and 2019.December 31 2018 2019Cash . . . . . . . . . . . . . . . . . . . . . . . . $ 64,300 $ 15,640Accounts receivable . . . . . . . . . . . 26,240 19,100Office supplies . . . . . . . . . . . . . . . . 3,160 1,960Office equipment . . . . . . . . . . . . . . 44,000 44,000Trucks . . . . . . . . . . . . . . . . . . . . . . . 148,000 157,000December 31 2018 2019Building . . . . . . . . . . . . . . . . . . . . . $ 0 $80,000Land . . . . . . . . . . . . . . . . . . . . . . . . 0 60,000Accounts payable . . . . . . . . . . . . . 3,500 33,500Note payable . . . . . . . . . . . . . . . . . 0 40,000Required1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total equityon the balance sheet and remember that total equity equals the difference between assets and liabilities.2. Compute net income for 2019 by comparing total equity amounts for these…

SCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-11A, prepare a schedule of accounts receivable for Sourk Distributors as of March 31, 20--. Verify that the accounts receivable account balance in the general ledger agrees with the schedule of accounts receivable total.

Review the following situations and record any necessary journal entries for Nine Lives Inc.

Imges

Dr. Cr. Jan 1, 2024: Prepare the necessary journal entries at the following dates for Pelican Inc. LA S

PA5. 12.2 Review the following transactions, and prepare any necessary journal entries. A. On July 16, Arrow Corp. purchases 200 computers (Equipment) at $500 per computer from a supplier, on credit. Terms of the purchase are 4/10, n/50 from the invoice date of July 16. B. On August 10, Hondo Inc. receives advance cash payment from a client for legal services in the amount of $9,000. Hondo had yet to provide legal services as of August 10. C. On September 22, Jack Pies sells thirty pies for $25 cash per pie. The sales tax rate is 8%. D. On November 8, More Supplies paid a portion of their noncurrent note in the amount of $3,250 cash.