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On what information return (T-slip) is the amount withdrawn from an individual's RRSP account reported?
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- You have established your performance materiality for accounts payable and revenue; now you must determine the posting materiality for individual items. The materiality judgement is at 4%. What is the posting materiality? Show your work. Your work should look like: APPROPRIATE AMOUNT x MATERIALITY JUDGEMENT = POSTING MATERIALITYAdvances from customers are classified as a(n) a. b. C. d. Select one: a. current asset. b. current liability. С. expense. d. revenue.Question 3 Which 3 are transaction types you can assign in a rule for money-out transactions? Transfer Journal entry Purchase order Credit memo Refund receipt Check Expense
- Sandhill Company issued $2,400,000 of 10%, 10-year bonds on January 1, 2017, at 103. Interest is payable semiannually on July 1 and January 1. Sandhill Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.5281%. Prepare the journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) The issuance of the bonds. (b) The payment of interest and related amortization on July 1, 2017. (c) The accrual of interest and the related amortization on December 31, 2017.Which of the following items is not a specific account in a company's chart of accounts? Multiple Choice Sales Revenue. Income Tax Expense. Deferred Revenue. Net Income. *********A ____ will cause Deferred Revenue to decrease. A. Debit B. Credit
- For each of the unrelated situations described below, prepare the entries required to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. On August 1, 2023, Sarasota Corporation called its 11% convertible bonds for conversion. The $4,000,000 par value bonds were converted into 160,000 no par common shares. On August 1, there was $351,000 of unamortized premium applicable to the bonds. At the time of issuance, Contributed Surplus-Conversion Rights was credited for $142,000, which represented the equity portion of the convertible bonds, and the market value of the common shares was $21 per share. The company records the conversion using the book value method. Ignore all interest payments. 2. Marigold Inc. issues 11% convertible bonds, par $1,000,000, at 97. The investment…Define the followings? a. Real Account. b. Temporary Account.A credit balance on accruals account indicates?
- insurance payment account is a? 1. Representative Personal Account 2.Real Account 3.Artificial Personal Account 4.Nominal AccountPA6. LO 4.2What two accounts are affected by each of these adjustments? billed customers for services provided adjusted prepaid insurance to correct recorded depreciation expense recorded unpaid utility bill adjusted supplies inventory to correctWould you help me identify for each account if the change would be recorded as a debit (DR) or Credit (CR). Thank you :)
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