Monthly Archives: September 2014

The General Ledger account balances as of December 31, 20XX, for the Cougar Detective Agency

The General Ledger account balances as of December 31, 20XX, for the Cougar Detective Agency are entered in the Trial Balance columns of the work sheet on pages 78 and 79. REQUIRED: Complete the work sheet, using the following additional … Continue reading

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for the Donald Ruddy Company as of December 31, 20XX (A+ Guaranteed)

Here’s a list of adjusted account balances, in alphabetical order, for the Donald Ruddy Company as of December 31, 20XX. Complete an Income Statement for the year ended December 31, 20XX, using the work sheet provided at the back of … Continue reading

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Worthington Company issued $1,000,000 face value, six-year

Worthington Company issued $1,000,000 face value, six-year, 10% bonds on July 1, 2012, when the market rate of interest was 12%. Interest payments are due every July 1 and January 1. Worthington uses a calendar year-end. Required: Prepare the journal … Continue reading

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P3-43 and P4-38 (Haupt Consulting) – The problem continues the Haupt Consulting situation

Assignment 3: Excel Problems At the end of each module, you will apply the module’s concepts by completing comprehensive assignments from the textbook. Complete problems P3-43 (p. 185) and P4-38 (p. 252) in your text book. The problem continues the … Continue reading

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Aulman Inc. has a number of divisions, including a Furniture Division and a Motel Division

Aulman Inc. has a number of divisions, including a Furniture Division and a Motel Division. The Motel Division owns and operates a line of budget motels located along major highways. Each year, the Motel Division purchases furniture for the motel … Continue reading

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Ida Sidha Karya Company is a family-owned company located in the village of Gianyar

Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The sounding … Continue reading

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Aracel Engineering completed the following transactions in the month of June

Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company. b. The company purchased land … Continue reading

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For Turgo Company, variable costs are 55% of sales, and fixed costs are $170,900

For Turgo Company, variable costs are 55% of sales, and fixed costs are $170,900. Management’s net income goal is $129,925. Compute the required sales in dollars needed to achieve management’s target net income of $129,925. Click here for the SOLUTION

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Holden Graham started The Graham Co., a new business that began operations on May 1

Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during its first month of operations. H. Graham invested $45,000 cash in the company in exchange for its … Continue reading

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BBP, Inc., with sales of $500,000, has the following balance sheet

BBP, Inc., with sales of $500,000, has the following balance sheet: BBP, Incorporated Balance Sheet as of 12/31/X0 Assets Liabilities Cash $ 25,000 Accounts Payable $ 15,000 Accounts Receivable $ 50,000 Accruals $ 20,000 Inventory $ 75,000 Notes Payable $ … Continue reading

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