Business, 30.03.2020 15:09 anastasialong
You’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a brand new small business specializing in bicycle repair. The owner, Bethany Beck, is a terrific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.
1. Prepare journal entries in the general journal.
2. Post journal entries to the general manager.
3. Prepare a trial balance.
Answers: 3
Business, 21.06.2019 17:20
Your aunt is thinking about opening a hardware store. she estimates that it would cost $300,000 per year to rent the location and buy the stock. in addition, she would have to quit her $45,000 per year job as an accountant. a. define opportunity cost. b. what is your aunt's opportunity cost of running a hardware store for a year? if your aunt thought she could sell $350,000 worth of merchandise in a year, should she open the store? explain.
Answers: 2
Business, 22.06.2019 18:00
On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?
Answers: 1
Business, 22.06.2019 20:20
You are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take
Answers: 2
You’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a...
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