On December 26 of Year 1, XYZ Company hired three sales associates to begin work immediately on an after-Christmas sale. The associates were paid on January 9 of Year 2. Disregarding amounts, what entry should have been made on December 31 of Year 1?

Amounts paid for various fees incurred in organizing a corporation are called ____________.

Ms. Brown is an attorney who collects a retainer fee from all of her new clients. At the beginning of the year, the Unearned Retainer Fee account had a balance of $24,000. Ms. Brown collected additional retainer fees totaling $94,000 from her clients during the year. Her year-end Balance Sheet reports a $16,000 balance in the Unearned Retainer Fee account. How much of the retainer fees were earned by Ms. Brown during the year?

The balance in the ________________ account is the amount owed to the company by its customers.

A residual claim of owners having certain preferences relative to other owners' claims is called __________________.

Which of the following would cause the accounting equation to be out of balance?

For a company, you need to calculate the working capital cycle while using the provided information. A. Receivable days -180 days B. Accounts payable days- 20days C. Inventory days-100 days

You have recently acquired a company for 8000$  .If you debit the amount from account receivables for 8000$ which of these corresponding accounts should be credited in the given scenario ?

A company reported its annual balance sheet. Total current liabilities = A units Total long-term liabilities = B units. Total common stock = C units Retained earnings = D units Other stockholder equity of E units What is the total assets of the company from the given data?

A good of Rs. 8000 was sold for Rs. 9200. Depreciation provision to date was Rs. 400; and commission paid to selling agent was Rs. 300. There were two workers that were paid wages for removing the machine which was Rs. 45 per worker. What is the net profit from the sale of good?

Cost of the printing press: 60000 dollars Cumulated depreciation of the printing press 15000 dollars Assume that the printing press depreciates at 10% per annum What could be the total year end adjustment that would need to be done due to depreciation? (in dollars)