Entries by John

Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file “Accounting Cycle Excel Template.xlsx”.

June 24, 2019 in /by

QUESTION 1 Required: #1. Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file “Accounting Cycle Excel Template.xlsx”. Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages […]

Consolidation subsequent to date of acquisition—Equity method with noncontrolling interest , AAP and gain on upstream intercompany equipment sale

June 24, 2019 in /by

QUESTION 14 Consolidation subsequent to date of acquisition—Equity method with noncontrolling interest , AAP and gain on upstream intercompany equipment sale A parent company acquired its 75% interest in its subsidiary on January 1, 2011. On the acquisition date, the total fair value of the controlling interest and the noncontrolling interest was $350,000 in excess of […]

Preparation of Adjusting Entries

June 24, 2019 in /by

Preparation of Adjusting Entries Bartow Photographic Services takes wedding and graduation photographs. At December 31, the end of Bartow’s accounting period, the following information is available: All wedding photographs are paid for in advance, and all cash collected for them is credited to Unearned Service Revenue. Except for a year end adjusting entry, no other […]

NPV, Make or Buy, MACRS, Basic Analysis

June 24, 2019 in /by

NPV, Make or Buy, MACRS, Basic Analysis Jonfran Company manufactures three different models of paper shredders including the waste container, which serves as the base. While the shredder heads are different for all three models, the waste container is the same. The number of waste containers that Jonfran will need during the following years is […]