Company A has created fictitious transactions to report more fav
- May 20, 2021/ Accounting Essay Writing Help Service
what theoretical reason can you give for not including expenses and cash distributions in the same closing entry
The need for this method arose out of the increasing complexity of business transactions and a desire for more accurate financial information. Selling on credit and projects that provide revenue streams over a long period of time affect the company’s financial condition at the point of the transaction. Therefore, it makes sense that such events […]
Exercise 1-2 (E1-2)[AICPA adapted] General Problems1. Fast Corporation paid $50,000 cash for the net assets of Agge Company, which consisted of the following:Book Value Fair ValueCurrent assets ,000 $14,000Plant and equipment 40,000 55,000Liabilities assumed (10,000) (9,000)$40,000 $60,000The plant and equipment acquired in this business combination should be recorded at:2. On April 1, Jack Company paid […]
need to get concept from the lecture slides i attached. I need you to explain to me what the lecture slides is trying to say Attachments: ACCY206Chapte….pptx
Instructions Identify as many internal control weaknesses as you can in this scenario, and suggest how each could be addressed. P7-3A On July 31, 2012, Fraiser Company had a cash balance per books of $6,140. The statement from Nashota State Bank on that date showed a balance of $7,690.80. A comparison of the bank statement […]
Accrue the interest on Emory Company note –shows on Notes Receivable–Emory Co(6-month, 8%, due August 15th.) shows $9870.40 in the debit balance. I need help finding the interest and how to apply to my ledger..thanks!