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P3-32A Journalize the adjusting entry needed on December 31-ANSWER KEY (INSTANT DOWNLOAD)

P3-32A  Journalize the adjusting entry needed on December 31-ANSWER KEY (INSTANT DOWNLOAD)
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Solution Guide / Answer Key:

 

Horngren. Accounting7

Requirements: show how each transaction would be handled using the accrual bais of accounting. give the amount of revenue or expense for January. Journal entries are not required. Use the following format for your answers, and show your computations: (p,125-127) Amount of revenue (expense) for january Date revenue (expense) accrual-basis amount of revenue (expense) 2. compute january net income or net loss under the accrual basis of accounting. (challenge). 3. state why the accrual basis of accounting is preferable to the cash basis. (p. 125-127) P3-32A Journalize the adjusting entry needed on December 31, the end of the current year, for each of the following independent cases affecting Lindsey Landscaping. (p.131-132, 139)

FILE: MS WORD

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