plex paintball records adjusting entries on an annual basis the company has the foll 3390011

Plex Paintball records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended May 31, 2017. 1. Plex Paintball has a 4% note payable with its bank for $48,000. Interest is payable on a monthly basis on the first of the month. 2. Plex Paintball is open seven days a week and employees are paid a total of $3,500 every Monday for a seven-day (Monday-Sunday) workweek. May 31, 2017, is a Wednesday so employees will have worked three days (Monday-Wednesday) before the year end that they have not been paid for as at May 31. Employees will be paid next on Monday, June 5, 2017. 3. Plex Paintball receives a commission from Pizza Shop next door for all pizzas sold to customers using the Plex Paintball facility. The amount owing for May is $520, which Pizza Shop will pay on June 7, 2017. 4. The May utility bill for $425 was unrecorded on May 31. Plex Paintball paid the bill on June 9, 2017. 5. Plex Paintball sold some equipment on May 1, 2017, in exchange for a $6,000, 6% note receivable. The principal and interest are due on August 1, 2017. Instructions (a) For each of the above items, prepare the adjusting entry required at May 31, 2017. (b) For each of the above items, prepare the journal entry to record the related cash transaction in 2018. Assume all payments and receipts are made as indicated.

pletcher dental clinic is a medium sized dental service specializing in family denta 3390010

Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2017. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance ……………… $ 30,000 Required minimum cash balance…………. 25,000 Payment of income taxes (2nd quarter) ……… 4,000 Professional salaries: 1st quarter…………………. 140,000 2nd quarter…………………. 140,000 Interest from investments (2nd quarter) ……… 7,000 Overhead costs: 1st quarter…………………. 77,000 2nd quarter…………………. 100,000 Selling and administrative costs, including $2,000 depreciation: 1st quarter …………………. 50,000 2nd quarter …………………. 70,000 Purchase of equipment (2nd quarter)……….. 50,000 Sale of equipment (1st quarter) ………….. 12,000 Collections from patients: 1st quarter…………………. 235,000 2nd quarter …………………. 380,000 Interest payments (2nd quarter) ………… 200 Instructions Prepare a cash budget for each of the first two quarters of 2017.

plenair inc is located in france and organizes and coordinates art shows and auction 3390008

Plenair, Inc., is located in France and organizes and coordinates art shows and auctions throughout the world. Its budgeted and actual costs for last year follow. ? Because the company sells only services, there is no cost of goods sold (net receipts equal gross margin). Plenair has budgeted the following fixed costs for the coming year: salaries, €1,000,000; advertising expense, €190,000; insurance, €150,000; and space rental costs, €300,000. Additional information: a. Net receipts are estimated at €6,400,000. b. Travel costs are expected to be 11 percent of net receipts. c. Auctioneer services will be billed at 15 percent of net receipts. d. Printing costs are expected to be €190,000. e. Home office costs are budgeted for €30,000. f. Shipping costs are expected to be 20 percent higher than the €105,000 budgeted in the last year. g. Miscellaneous expenses for the coming year will be budgeted at €8,000. 1. Prepare the company’s budgeted income statement for the coming year using a 40 percent income tax rate, 2. Should the budget committee be worried about the trend in the company’s operations? Explain youranswer.

please match each item on the right with the most appropriate item on the left 1 acc 3390005

Please match each item on the right with the most appropriate item on the left. 1. Accrued revenue…… a. Book of original entry 2. Credit………. b. Cash is received before service is provided 3. Debit………. c. Decreases to revenue 4. Deferred revenue…… d. Increases to liabilities 5. Human judgment…… e. Purchase orders, invoices, and receipts 6. Information technology… f. Service is provided before cash is received 7. Journal………. g. Simplifies the bookkeeping process 8. Posting………. h. Transferring information from the journal to the ledger 9. Source document…… i. Used to recognize recordable transactions 10. Trial balance…… j. Verifies the equality of debits and credits in the ledger

please match each item on the right with the best item on the left 1 business strate 3390004

Please match each item on the right with the best item on the left. 1. Business strategy risk 2. Foreign Corrupt Practices Act 3. General controls 4. Legal and regulatory 5. Liquidity 6. Reasonable assurance 7. Sarbanes-Oxley Act 8. Separation of duties 9. Systems 10. COSO a. 1977 legislation b. 2002 legislation c. Apply to a broad range of IT applications d. Internal control example e. A group that offers advice about internal control and enterprise risk management f. Organizational risk example g. Poor decision making related to market competition h. Strategic risk category i. Type of financial risk j. What internal controls provide