WORKING PAPERS F/ FUND ACCOUNTING
WORKING PAPERS F/ FUND ACCOUNTING
22nd Edition
ISBN: 9781308868394
Author: Wild
Publisher: MCG CUSTOM
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Chapter 19, Problem 3APSA

Requirement1:

To determine

TheJob cost sheet of various jobs to be prepared.

Requirement2:

To determine

The Journal entries required to be passed for each transaction.
Solution: The Following are the transactions need to be passed:

    WORKING PAPERS F/ FUND ACCOUNTING, Chapter 19, Problem 3APSA , additional homework tip  1

    WORKING PAPERS F/ FUND ACCOUNTING, Chapter 19, Problem 3APSA , additional homework tip  2

Requirement 3:

To determine

The T-accounts for above transactions need to be maintained.

Requirement4:

To determine

The report showing reconciliation of accounts balances with Job cost sheet.

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Green, an individual taxpayer who is not a day trader, has requested assistance from a CPA to calculate Year 2 gains and/or losses on the sale of various shares of stock. For each of the following transactions, calculate the correct gain or loss and enter the amount in the associated box in the Gain or Loss column. 4. Sold 1,225 shares of ABC Corp. stock at $9 per share. Green purchased 600 shares several years ago at $30 per share. Three years ago, when the stock price was $21, there was a 2-for-1 stock split, and two years ago, when the stock price was $25, there was a 3-for-2 stock split. No other shares were sold by Green before Year 2. 5. Sold 500 shares of XYZ Corp. stock at $20 per share. Green purchased these shares two years prior at $22 per share. Three weeks prior to the sale, Green purchased 100 shares of XYZ stock at $18 per share. 6. Sold 1,600 shares of BX Corp. stock at $4 per share. Green received these shares as a gift from his sister four years ago. The fair market…

Chapter 19 Solutions

WORKING PAPERS F/ FUND ACCOUNTING

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