subject
Business, 05.02.2020 13:49 chloe1107

Exercise 129 the following data relate to the accounts of edmiston company. a. unpaid salaries and wages at year end amount to $750. b. edmiston company owns bonds of another corporation that pay annual interest of $800. these bonds were purchased on april 1, 2017, and the next interest payment will be received on april 1, 2018. c. a two-year insurance policy was purchased on june 1, 2017. the $1,200 insurance premium was paid on that date and was debited to prepaid insurance. d. service revenue was credited for $900 on june 1, 2017. the amount represents a one-year advance payment for services to be performed by edminston company through may 31, 2018. e. the supplies account shows a balance of $2,500 on december 31, 2017. a physical count of the supplies on hand at this date reveals a total of $1,000 available.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 02:00
On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)
Answers: 3
question
Business, 22.06.2019 11:00
When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement
Answers: 3
question
Business, 22.06.2019 12:00
Select the correct answer. martha is a healer, a healthcare provider, and an experienced nurse. she wants to share her daily experiences, as well as her 12 years of work knowledge, with people who may be interested in health and healing. which mode of internet communication can martha use? a. wiki b. email c. message board d. chat e. blog
Answers: 2
question
Business, 22.06.2019 23:50
When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.
Answers: 2
You know the right answer?
Exercise 129 the following data relate to the accounts of edmiston company. a. unpaid salaries and w...
Questions
question
History, 13.02.2021 09:10
question
Mathematics, 13.02.2021 09:10
question
Business, 13.02.2021 09:10
question
Mathematics, 13.02.2021 09:10
question
History, 13.02.2021 09:10
question
Mathematics, 13.02.2021 09:10
question
Mathematics, 13.02.2021 09:10
Questions on the website: 13722361