Johnson Corporation's Unadjusted Trial Balance Paper

1. For the year-end December 31, 2007, financial statements, what amount should M record as a liability?

5.    Prepare any necessary adjusting entries to reflect the Inventory count at year end. These must be hand written.

In response to you requested investigation regarding the property, equipment and intangible asset accounts, we have completed adjustments to the necessary accounts. During the year new office equipment was purchased at a cost of $2,697.50. We will calculate the difference between the accumulated Depreciation of office equipment balance and the office equipment account. We will then include the new office equipment to the balance, and then multiply the new balance by 20 percent using the declining-balance basis:

If Wainwright uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Wainwright determines that Hiller’s $900 balance is uncollectible.

15. Hawthorn Corporation 's adjusted trial balance contained the following accounts at December 31, 2012: Retained Earnings $126,560; Common Stock $707,140; Bonds Payable $101,750; Additional Paid-in Capital $203,770; Goodwill $58,010; Accumulated Other Comprehensive Loss $153,850. Prepare the stockholders ' equity section of the balance sheet.

In the Constitution of the United States, there exists a system of checks of balances that has kept the three branches of government in check. Through this system, the Constitution is able to limit the powers of government in order to protect the rights of individuals.This system keeps the executive, judicial, and legislative branches of government from trying to gain more power and makes sure that each branch is balanced. The Framers believed that creating separate branches of government would help to limit the powers of the national government and to prevent tyranny in the nation. These three branches and their roles in the government are as follows: the legislative branch, which is run by Congress, includes the Senate and the House of Representatives and has the power, under the Constitution, to make laws ;the executive branch, run by the President, executes or carries out laws; and the Supreme Court, which the Constitution established to head the judicial branch, which interprets and applies the law in federal court cases.

The following additional facts are collected for use in making adjusting entries on December 31 prior to preparing financial statements for the company’s first three months. Journalize the following adjusting journal entries in the General Journal on page 6 and then post them to

In 1692, Boston’s governor and his commission started convicting people of being witches from spectral evidence. Spectral evidence is evidence based on dreams or visions which makes it difficult to show proof of someone actually being a witch. The supporting statement behind spectral evidence was that the devil could not take the form of an innocent person, and that the only shape the devil could take was the shape of a person who had confederated with the devil himself. The court allowing the use of spectral evidence, made it hard to defend the accusations of individuals being a witch because of various reasons like there was no limit on who could be accused and who was exempt, once they found out someone was being accused, they tortured that individual into saying the names of others, and because they were killing individuals based on a statement from someone.

If, at year end, 2 months have elapsed, what adjusting entry do you record? 2,000 A. Prepaid Legal Expense Legal Expense 2,000 2,000 B. Legal Expense Prepaid Legal Expense 2,000 Legal Expense 3,000 C. Prepaid Legal Expense 3,000 12,000 D. Prepaid Legal Expense Cash 12,000 [10]BASIC BANK10 - COAE 010 On September 1, your firm incurs a routine $82 expense, mistakenly recording it as follows: Office Expense Accounts Payable 28 28

b. The inventory write down recorded, as an expense by the company is $4.4 million. It is measured at lower of cost and net realizable value. Cost is measured by weighted average using standard cost method or

b. Trace the line item “Balance per Bank Statement” – Accuracy and Existence (AU-C 315.A114 a-iii, b-i)

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To account for inventory, the company uses, first in first out policy. Property plant and equipment are recorded at cost less the accumulated depreciation amount. Depreciation is charged on straight line method

a) Prepare the necessary journal entries to account for any impairment loss for Division One.

The corporation 's headquarters is located in New Brunswick, in the state of New Jersey, USA; and its consumer division is located in Skillman, New Jersey.