Entries by mary WAMBUGU

Philadelphia Widget Corporation is in the process of preparing financial statements for the year ended December 31, 2015. They have completed the balance sheet and income statement as shown.

August 28, 2019 in /by

Please Fill in the blanks:QuestionPhiladelphia Widget Corporation is in the process of preparing financial statements for the year ended December 31, 2015. They have completed the balance sheet and income statement as shown. Philadelphia Widget Corporation     Income Statement     For the year ended December 31, 2015     Revenue   $1,235,000 Cost […]

 

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The September 30 physical inventory appropriately included $3,800 of merchandise that was not recorded as a purchase (on account) until October.

August 28, 2019 in /by

Question (Multiple Choice)The September 30 physical inventory appropriately included $3,800 of merchandise that was not recorded as a purchase (on account) until October.  What effect will this error have on the September 30 assets, liabilities, and income for the month ending, respectively? A.   No effect, no effect, understate. B.   Overstate, overstate, no effect. C.   No […]

 

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The stockholders equity sec±on of the balance sheet of Frederick Mining Company is as foFrederick Mining CompanyEquity Sec±on of Balance Sheet as of January 1, 2016

August 28, 2019 in /by

The stockholders equity sec±on of the balance sheet of Frederick Mining Company is as foFrederick Mining CompanyEquity Sec±on of Balance Sheet as of January 1, 2016Common stock, $10 par value, 200,000 shares authorized120,000 shares issued1,200,000Paid-in capital in excess of par value3,711,250Retained earnings4,651,255Total equity9,562,505Create a journal entry (if needed) for each of the following items.Prepare an […]

 

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(Multiple Choice) Using the straight-line method, how much interest income would be recognized for the 20X5 calendar year, for a $1,000, 5-year, 6% bond that was purchased for $960 on July 1, 20X4?

August 28, 2019 in /by

(Multiple Choice)Using the straight-line method, how much interest income would be recognized for the 20X5 calendar year, for a $1,000, 5-year, 6% bond that was purchased for $960 on July 1, 20X4? A.   $52. B.   $60. C.   $68. D.   $100. E.   None of these.   Looking for a Similar Assignment? Order now and Get 10% […]

 

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