1. EDUCATION COURSE ACC 421NERD/ TUTORIALOUTLET
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2. EDUCATION COURSE ACC 421NERD
Allowance for Doubtful Accounts $4,500, and Equity Investments
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(trading) $11,570.Prepare the current assets section of the balance sheet
Brief Exercise asset accounts at December 31, 2017: Cash $9,750, Land $45,600, Patents $17,100, Accounts Receivable $94,270, Prepaid Insurance $5,640, Inventory $39,400,

3. EDUCATION COURSE ACC 421NERD
Assume that Carla prepares financial statement
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Brief Exercise Prepare Carla’s journal entries to record (a) the sale on July 10, 2017, and (b) $84,200 of returns on October 11, 2017, and on October 31, on October 31, 2017.

4. EDUCATION COURSE ACC 421NERD
Bonds Payable $409,200, Salaries and Wages
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Brief Exercise Included in Windsor Company’s December 31, 2017, trial balance are the following accounts: Accounts Payable $249,600, Pension Liability $376,400,

5. EDUCATION COURSE ACC 421NERD
Classify the following items as (1) operating, (2) investing
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Question , (3) financing, or (4) significant noncash investing and financing activities, using the direct method.

6. EDUCATION COURSE ACC 421NERD
Company during the year, except for retained earnings
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Exercise Presented below are changes in the account balances of Wenn (a) Compute the net income for the current year.

7. EDUCATION COURSE ACC 421NERD
Compute the net cash provided (used) by investing activities.
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Brief Exercise Brief Exercise Compute the net cash used (provided) by financing activities. 7.

8. EDUCATION COURSE ACC 421NERD
How much must he invest at the end of each year, at 8% interest,
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Brief Exercise 6-6 to meet his needs?Brief Exercise What amount will Pearl receive when it issues the bonds?
Brief Exercise What amount must he invest today if his investment earns 12% compounded annually? earns 12% annual interest compounded quarterly?

9. EDUCATION COURSE ACC 421NERD
If the inventories and prepaid items amount to $530,000
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Brief Exercise (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1., what is the amount of current liabilities?

10. EDUCATION COURSE ACC 421NERD
In which building would you recommend that The Sheridan Inc
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Exercise locate, assuming a 12% cost of funds?
Brief Exercise 6-6 to meet his needs?Brief Exercise What amount will Pearl receive when it issues the bonds?

11. EDUCATION COURSE ACC 421NERD
Included in Novak Company’s December 31 trial balance is a note receivable
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Brief Exercise Included in Novak Company’s December 31 trial balance is a note receivable of $12,360. The note is a 4-month, 10% note dated October

12. EDUCATION COURSE ACC 421NERD
Kingbird Company is involved in four separate industries
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Exercise The following information is available for each of the four industries.
(a) Revenue test.
(b) Operating profit (loss) test.

13. EDUCATION COURSE ACC 421NERD
Kingbird Corporation had net sales of $2,423,900 and interest revenue
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Brief Exercise Kingbird Corporation had net sales of $2,423,900 and interest revenue of $39,100 during Expenses for 2017 were cost of goods sold $1,464,800,

14. EDUCATION COURSE ACC 421NERD
Martinez Corporation had net cash provided by operating activities
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Brief Exercise In 2017, of $511,000, net cash used by investing activities of $992,000, and net cash provided by financing activities of $570,000. At January 1, 2017, the cash balance was $330,000.

15. EDUCATION COURSE ACC 421NERD
Martinez Corporation’s adjusted trial balance contained the following
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Brief Exercise asset accounts at December 31, 2017: Cash $9,750, Land $45,600, Patents $17,100, Accounts Receivable $94,270, Prepaid Insurance $5,640, Inventory

16. EDUCATION COURSE ACC 421NERD
party may terminate the contract without compensation
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Prepare the journal entries for Swifty related to this contract. Either until one of the parties performs.

17. EDUCATION COURSE ACC 421NERD
Prepare the journal entries for Kingbird
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Brief Exercise (a) on March 1, 2017.
(b) Prepare the journal entries for Kingbird on December 31, 2017.

18. EDUCATION COURSE ACC 421NERD
Prepare the necessary adjusting journal entries indicated
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Exercise 129 by each item for the year ended December 31, 2017.

19. EDUCATION COURSE ACC 421NERD
Presented below are three revenue recognition situations
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Brief Exercise (a) Groupo sells goods to MTN for $932,000, payment due at delivery.

20. EDUCATION COURSE ACC 421NERD
Sarasota Company reported 2017 net income of $152,800. During
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Brief Exercise , accounts receivable increased by $14,580 and accounts payable increased by $9,723. Depreciation expense was $46,700.

21. EDUCATION COURSE ACC 421NERD
Sheffield Company has recorded bad debt expense
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Brief Exercise 4-7 in the past at a rate of 1.5% of accounts receivable, based on an aging analysis. In 2017, Sheffield decides to increase its estimate to 2%. If the new rate had

22. EDUCATION COURSE ACC 421NERD
Splish Repair Shop had the following transactions
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Brief Exercise Splish Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transactions

23. EDUCATION COURSE ACC 421NERD
Swifty delivers the product to Greig on June 15, 2017, and receives payment
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Brief Exercise On May 10, 2017, Swifty Co. enters into a contract to deliver a product to Greig Inc. on June 15, Greig agrees to pay the full contract price of $2,060

24. EDUCATION COURSE ACC 421NERD
Teal Corporation had the following 2017 income statement.
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Brief Exercise (a) Prepare Teal’s cash flows from operating activities section of the statement of cash flows using the direct method.

25. EDUCATION COURSE ACC 421NERD
The corporation had 103,100 shares of common stock authorized
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The corporation had 103,100 shares of common stock authorized and 72,670 shares issued and outstanding during Prepare a condensed multiple-step income statement

26. EDUCATION COURSE ACC 421NERD
The Marin, Inc. sold 10,350 season tickets at $2,040 each
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Question 13 By December 31, 2017, 16 of the 40 home games had been played. What amount should be reported as a current liability at December 31, 2017?

27. EDUCATION COURSE ACC 421NERD
Umulative effect of changing the estimated bad debt rate
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2017, bad debt expense will be $132,400 instead of $96,720. If Sheffield’s tax rate is 29%, what amount should it report as the?

28. EDUCATION COURSE ACC 421NERD
Unearned Rent Revenue $43,600, Bonds Payable
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Brief Exercise Included in Sunland Company’s December 31, 2017, trial balance are the following accounts: Accounts Payable $221,400, Pension Liability $380,600,

29. EDUCATION COURSE ACC 421NERD
Using the code below, indicate how each
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Brief Exercise Novak Corporation is preparing its 2017 statement of cash flows, using the indirect method. Presented below is a list of items that may affect the statement.

30. EDUCATION COURSE ACC 421NERD
What amount must he invest if his investment
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Brief Exercise What amount must he invest today if his investment earns 12% compounded annually? earns 12% annual interest compounded quarterly?

31. EDUCATION COURSE ACC 421NERD
Whispering Corporation had January
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Brief Exercise and December 31 balances as follows.

32. EDUCATION COURSE ACC 421NERD/ TUTORIALOUTLET
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