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Accounting Questions and Answers October 1, 2012

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Following are the financial statements for Nas Car Corporation for the year ended December 31, 2019. Assume that all balance sheet amounts represent both average and ending figures. Nas Car Corporation Balance Sheet December 31, 2019 Assets Cash $ 20,000 Marketable securities 30,000 Accounts receivable 50,000 Inventory 100,000 Long-term

Matthew (48 at year-end) develops cutting-edge technology for SV Incorporated, located in Silicon Valley. In 2022, Matthew participates in SV's money purchase pension plan (a defined contribution plan) and in his company's 401(k) plan. Under the money purchase pension plan, SV contributes 15 percent of an employee's salary to a retirement account

A company's inventory records show the following data for the month of April. If the company uses the first - in , first - out ( FIFO ) method and the perpetual inventory system, what would be the cost of the ending inventory?
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An auditor suspects that certain client employees are ordering merchandise for themselves over the Internet without recording the purchase or receipt of the merchandise. When vendors' invoices arrive, one of the employees approves the invoices for payment. After the invoices are paid, the employee destroys the invoices and the related vouchers. In

One of management's functions is to control company operations. Control consists of the steps taken by management to see that planned objectives are met. We now ask: How do budgets contribute to control of operations? The use of budgets in controlling operations is known as budgetary control. Such control takes place by means of budget reports

Consolidated Edison, Incorporated (Con Edison), is a public utility company operating primarily in New York whose annual revenues exceed $12 billion. It reported the following December 31 simplified balances in its statement of stockholders equity (dollars in millions): Current Year Prior Year Common stock $ 36 $ 33 Paid-in capital 7,954 6,997

Progress: 1 1 / 1 5 items Question Content Area Which of the following items would not be used in the calculation of the cost - to - retail ratio if the FIFO retail inventory method were used to determine the ending inventory? a . net markdowns b . beginning inventory c . purchases d . freight - in charges

Need the answer in detail asap!!! (Canada) Jon's Auto Parts Ltd., which manufactures equipment, had the following balances in its records concerning its capital assets as at January 1, 2020: Amortization Straight Line CCA Class Type of asset Book Value UCC 40 years Land Building Equipment 5 years Leasehold improvements (see below) Owner's Vehicle
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Lynch Company manufactures and sells a single product. The following costs were incurred during the companys first year of operations: Variable costs per unit: Manufacturing: Direct materials $15 Direct labor $5 Variable manufacturing overhead $1 Variable selling and administrative $1 Fixed costs per year: Fixed manufacturing overhead $286,000

how can I answer these KSA for my resume Ability to perform basic mathematical computations. Ability to compare names, letters, or numbers for accuracy and completeness.

Need answer ASAP (CANADA) Early in 2015, Mr. Bourne bought 12,000 common shares in a public company for $10/share. These shares have an annual guaranteed eligible dividend of $6,000. It is January 1, 2020 and Mr. Bourne would like to transfer these shares to his wife or possibly to his 6-year-old daughter. The fair market value of the shares today

eBook Chapter 3 Financial Planning Exercise 2 Estimating taxable income, tax liability, and potential refund Charlotte Taylor is 24 years old and single, lives in an apartment, and has no dependents. Last year (2018) she earned $45,500 as a sales assistant for Office Furniture Rentals; $6,970 of her wages was withheld for federal income taxes. In

Alcorn Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting Period Acquired $79,000 cash from the issue of common stock. Purchased $5,000 of supplies on account. Purchased land that cost $56,000 cash. Paid $5,000 cash to settle accounts payable created in Event 2. Recognized revenue on account of $80,000. Paid
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Consider the matrix A=a11a21a31a12a22a32a13a23a33 and corresponding diagonal matrix D=a11000a22000a33. Show that if a11>2(a12+a13),a22>2(a21+a23),a33>2(a31+a32) then (D1(DA))
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A cost that is incurred between the split-off point and the point of sale is known as a:

The pillar manufacture company has three identified levels of authority and responsibility. The organization chart as of December 3 1 year one appears as follows. Pertinent expenses for level three follow. Pertinent expenses for level two follow. Pertinent expenses for level one follow Required a . Complete the spreadsheet that shows
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If a taxpayer sells her or his 1 2 4 4 stock at a loss, all of the loss will be ordinary loss. Group of answer choices True False

A bond has an annual coupon of 67%, which makes semiannual payments. The next payment is 2 months away. The bonds quoted price is 102.0 with par of $1000, what is the bond's clean price? (Please use at least 5 decimal places and do not use $ symbol in the answer)

4. Audit opinion - explain the types of the opinion given by the auditor, the reason/condition why auditor give these opinions.

On January 1, 2024, Mania Enterprises issued 10% bonds dated January 1, 2024, with a face amount of $26 million. The bonds mature in 2034 (10 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. Required: Determine the price of the bonds on January 1, 2024. Note: Use

How to solve
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A $ 6 , 0 0 0 bad debt is treated the same for tax purposes whether business or non - business. Group of answer choices True False

Summarize the Federal income tax filing requirements applicable to estates and trusts. Also summarize the reporting requirements for beneficiaries of estates and trusts with respect to the tax items "passed through" to them. Compare and contrast, at both the entity and beneficiary/owner levels, of: a) estates and trusts; b) S corporations; and c)

How are blogs, wikis, and other Web 2.0 technologies changing the practice of business communication? Please give examples.

the stakeholder theory is divided into ethical and mangerial branch. explain the difference between the managerial and athical branches of stakeholder theory in terms of alternative perspectives about when information will, or should, be produced by an organization. (support your answer with empirical evidence references)

Need the answer please ASAP (canada) Marvin Moving has begun to prepare his 2020 tax return and has already computed the following amounts correctly: Income from Employment $45,000 Income from Business 24,250 Income from Property (rental & interest) 3,500 Marvin moved from Cornwall to Ottawa during the year to take a new job with a software
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CHAPTER 9 Daryas Dance Studio 1. If the Require Accounts option is turned off, sales transactions entered without a specified account will be posted to: a. Revenue b. Equity c. Uncategorized Income d. Uncategorized Equity 2. Which account type should be chosen for account used to record customer credit card receipts? a. Bank b. Bank Credit Card c.

show the process of getting 19/6 Find the most general antiderivative of the function. (Check your answer by differentia Remember to use absolute values where appropriate.) p(t)=9.5t23/t 3lnt+C+395t3+3ln(t)+C+619t3
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I. Develop two audit approach based on how you would audit the 2000 Amazon Financial statements. Both approaches to include the audit of the financial statements as well as the internal controls over financial reporting. The audit approaches to be: 1. Controls Approach 2. Substantive Approach Your approach must consider the following: a.

Haley has an annual salary of $1,000,000 in 2019, 2020, and 2021. She is thinking about retiring at the beginning of 2022 after working for XYZ Corporation and participating in XYZ Corporation's defined benefit plan. If XYZ Corporation's defined benefit plan pays employees 3 percent for every year of service for the average of their three highest

The costs for attending three conventions in a year are deductible provided the conventions are each held within the territorial scope of the business operations and relate to the business. Group startsTrue or False

fixed cost expressed on a per unit basis: increase with increases in activity decrease with increases in activity should be ignored in making decision are not affected by activity

Let S be a set of real numbers having the property that if a, b S, then a b S. Prove that for every n 2 elements a1, a2, . . . , an in S, their product a1a2 an S.

Following are the financial statements for Nas Car Corporation for the year ended December 31, 2019. Assume that all balance sheet amounts represent both average and ending figures. Nas Car Corporation Balance Sheet December 31, 2019 Assets Cash $ 20,000 Marketable securities 30,000 Accounts receivable 50,000 Inventory 100,000 Long-term

Koneh Company purchased $25,000 of merchandise on 11/1/21, terms: 2/10, N/30. a) If Koneh uses the gross method and pays on 11/10/21, which of the following will be included in its 11/10 journal entry? a) debit to purchase discounts, $500 b) credit to purchase discounts, $500 c) debit to discounts lost, $500 d) credit to cash, $25,000 b) If Koneh

The rules for Chegg state that there should only be one question per submission, and this still follows that ruling, as this is a 5 part question. Thanks Required information Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions
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Use the following information for the Exercises below. (Static) Skip to question [The following information applies to the questions displayed below.] Depreciation on the companys wind turbine equipment for the year is $5,000. The Prepaid Insurance account for the solar panels had a $2,000 debit balance at December 31 before adjusting for the

1. A company sold an asset costing $12,000 with accumulated depreciation of $8,000 at a loss of $2,000. Dtermine the amount of cash flow as a result of this activity.

Urgent hi guys you always help me thanku so much Take me to the text Bonus Company had the following amounts in its statement of cash flows for the year ended December 31, 2019. of Net increase in cash from operating activities $169,000 Net decrease in cash from investing activities $398,000 Net decrease in cash from financing activities 5341,000
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The following information relates to a manufacturing unit: Budgeted hours 5,200 Standard hours produced 5,600 Actual hours worked 5,800 What is the activity ratio for the period? a) 96.6% b) 103.6% c) 107.7% d) 111.5% A company manufactures and sells a single product. The variable cost of the product is $2.50 per unit and all production each month

Burgundy is contemplating what for the company is an average-risk investment costing $42 million and promising an annual ATF of $5.1 million in perpetuity. 1) What is the internal rate of return on the investment? (Round your answer to 2 decimal places.) Internal rate of return: % 2) What is Burgundy's weighted-average cost of capital? (Round your
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Use Lagrange quadratic polynomial to estimate the value of y at x = 1.5 from the data points (0, 1),(1, 1),(2, 7). please help asap Use Lagrange quadratic polynomial to estimate the value of y at x=1.5 from the data points (0,1),(1,1),(2,7)
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Lakeside Inc. manufactures four lines of remote control boats and uses activity-based costing to calculate product cost. Activity Cost Pools Estimated Total Cost Estimated Cost Driver Machining $ 400,400 14,000 machine hours Setup 74,000 370 batches Quality control 114,800 820 inspections Suppose the Luxury boat requires 5,320 machine hours, 205

Cash dividends totaling $3,000 were paid to stockholders on March 31. Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount:

Bramble Corp. budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2021 to June 30, 2022: June 30, 2022 June 30, 2021 Direct Materials 3200 kilos 2300 kilos Three kilos of raw materials are needed to produce each unit of finished product. If Bramble Corp.

A table of values for f,g,f, and g is given. (a) If h(x)=f(g(x)), find h(3). h(3)= (b) If H(x)=g(f(x)), find H(1)
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Militar de enorme fama carismatico como si fuera un actor inteligente, radical y bromista

Limit of Quotient Find the limit lim x--->5 x^2+3x-10/x+5

BigSandwich is a national fast food chain. They sell meal deals but recently have been concerned about the pricing and profitability of their meals. The unit variable costs for each meal deal is $2.15 and a meal is sold to the customer for $4.79 . The average number of meals sold per day is 1099 . 1. What is the total daily contribution margin $ ?

19. Following are selected accounts for Green Corporation and Vega Company as of December 31, 2023. Several of Green's accounts have been omitted. $ Vega 500,000 200,000 40,000 60,000 Revenues Cost of goods sold Depreciation expense other expenses Equity in Vega's income Retained earnings, 1/1/2023 Dividends Current assets Land Building (net)
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Mira and Lemma are equal owners of a business entity. Each contributed $93,000 cash to the business. Then the entity acquired a $372,000. loan from a bank. This year operating profits totaled $111,600. Determine Lemmas basis in her interest at the end of the tax year assuming that the entity is a partnership, a C corporation, or a S corporation.

Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The demand for the company's products far exceeds its manufacturing capacity. The bottleneck (or constraint) in the production process is upholstery labor-hours. Information concerning three of Portsmouth's products appears below: Recliner Sofa Love Seat

Can someone please assist with all 3 parts? Straight line, Units of production, and DDB? Problem 10-2A Depreciation methods LO P1 A machine costing $209,800 with a four-year life and an estimated $17.000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 482,000 units of
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CHAPTER 8 Curlys Cabinets 1. Which form should be used to record credit card purchases? a. Enter Bills b. Enter Credit Card Charges c. Enter Purchase Orders d. Credit Card Purchases 2. Which type of account is used to record credit card purchases? a. Expense b. Asset c. Liability d. Equity 3. Which icon should you select from the Home window when

please help thanks please create schedule of COGM,COGS AND INCOME and answer the question, its urgent and i would really appreciate it \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Sales Revenue } \\ \hline \multicolumn{2}{|c|}{ Debit } & \multicolumn{2}{c|}{ Credit } \\ \hline & & Dec 23 & $23.000 \\ \hline & & & \\ \hline & & Ending &
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Investments in government and corporation bonds. Available for sale securities Held to maturity securities Trading securities Debt Investments Securities bought and held primarily for sale in the near term to generate income on short-term price differences. Held to maturity securities Consolidated Financial Statements Trading Securities Equity

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $1,332,000 of total manufacturing overhead for an estimated activity level
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under what circumstances would a company adopt the fair value option? explain the reporting implications of making a fair value adjustment

Q4 4 Points For the following questions, assume we are in world of 5-bit two's complement binary. Q4.1 1 Point What is the largest (furthest from zero) positive number we can represent? Write your answer in binary. Q4.2 1 Point What is the largest (furthest from zero) positive number we can represent? Write your answer in base 10
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For Jerry's Ice Cream, Inc. please categorize the following transations: a. Jerry's pays $10,000 cash for inventory b. Jerry's pays $300 in cash dividends to stockholders c. Jerry's gets cash dividends from Neighbors Corp. d. Jerry's buys treasury stock for $40,000 cash e. Jerry's pays wages out to Jerry's employees f. Jerry's gets $50,000 cash

18. Let G be the group of all real 22 matrices (acbd), with adbc=0, under matrix multiplication, and let N={(acbd)Gadbc=1}. Prove that NG, the commutator subgroup of G
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Alicia has been working for JMM Corporated for 32 years. Alicia participates in JMM's defined benefit plan. Under the plan, for every year of service for JMM, she is to receive 2 percent of the average salary of her three highest consecutive calendar years of compensation from JMM. She retired on January 1, 2022. Before retirement, her annual

Chandler bought a swing set marked down from $400 to $380. What percentage is the discount

Would advising an audit client on how to structure a business transaction to achieve specific accounting treatment under GAAP be a threat to independence? Why?

Required information Problem 12-4A (Algo) Partnership income allocation, statement of partners' equity, and closing entries LO P2 Skip to question [The following information applies to the questions displayed below.] Mo, Lu, and Barb formed the MLB Partnership by making investments of $72,900, $283,500, and $453,600, respectively. They predict
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PLEASE SHOW ALL WORK!! Evaluation of a Cogeneration Project Capital cost: Construction cost $75.00 million Commitment fees and financing cost $5.00 million Total construction cost $80.00 Construction draw-down period 18 months Financing arrangement : Long-term debt Per cent to be determined by the borrowing capacity using = 1.20 Equity capital

A provision of the _ _ _ _ _ _ _ _ _ blank made managers and supervisors ineligible to participate in the tip pools, when used for tipped employees. Multiple Choice Tipped Employees Act Tax Cuts and Jobs Act Consolidated Appropriations Act Equal Employment Act

You are given the series k=011k26(k!) Find the specified partial sums: s1=s2=s3=s4=s5= Recall: The series k=0ak has the n-th partial sum sn=k=0nak
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Charlotte (age 40) is a surviving spouse and provides all of the support for her four minor children (ages 4, 8, 11, and 14) who live with her. She also maintains the household in which her parents live and furnished 60% of their support. Besides interest on City of Miami bonds in the amount of $5,500, Charlotte's father received $2,400 from a

Income and Cash Flow Analysis The Berndt Corporation expects to have sales of $14 million. Costs other than depreciation are expected to be 75% of sales, and depreciation is expected to be $1.75 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. The federal tax rate is 21%

Using the expectations hypothesis theory for the term structure of interest rates, determine the expected return for securities with maturities of two, three, and four years based on the following data. (Input your answers as a percent rounded to 2 decimal places.) Interest Rate 1-year T-bill at beginning of year 1 4 % 1-year T-bill at beginning

The following transactions were selected from among those completed by Bears Retail Store: November 20 Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bears $300. November 25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost
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financial statements - Create a multiple step income statement Trial Balance FYE September 30, 2022 Dr Cr \begin{tabular}{llrrr} 101 & Cash & $ & 183,600 & \\ 105 & Accounts Receivable & 135,000 & \\ 106 & Allowance for Doubtful Accts & & $ & 10,000 \\ 110 & Inventory & 55,000 & \\ 120 & Prepaid Supplies & 19,000 & \\ 185 & Equipment & 125,000 &
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What does the owner of Caf Stella say he looks at for budgeting? trends over time employee wages day to day costs and revenue amount of new customers
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prove by two column proofs 3. Prove: If x
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please answer all the questions 11.2a, 11.2b, 11.3 c, 11.2d. 11.3a, 11.3b, 11.3c, 11.3d. I am uploading this third time and only 11.2a question is answered for the last two chances. I need the answers as soon as possible. Thank you. 11.2 Let the following relations represent a fact table, Orders, and associated dimen- sion tables Customers,
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Based on the resources provided or your research, share ways entrepreneurs and small businesses are using Pinterest and hashtags to promote themselves. Provide at least one example of a small organizations Pinterest marketing campaign with hashtags. (Research Support Required)

How do I answer that graph? I inputted the expenses list but I can't figure out the numbers Thank you! 2. Prepare, in proper form, an adjusted income statement for 2017. DYER, INC. Income Statement For the Year Ended December 31, 2017 Rent revenue Expenses: Salaries and wages Repairs and maintenance expense Rent expense Utilities expense Travel
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Pop Corporation acquired 70 percent of Soda Company's voting common shares on January 1, 20X2, for $114,800. At that date, the noncontrolling interest had a fair value of $49,200 and Soda reported $70,000 of common stock outstanding and retained earnings of $25,000. The differential is assigned to buildings and equipment, which had a fair value
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11. Find the eigenvalue decomposition for B=200001010
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need help with preparing bank reconciliation and adjusted trial balance for Ivans Instrument Center (part four and five) ending balance in T-accounts for cash account is $21,790.00 Current Assets 10000 11000 12000 12100 13100 15100 17100 Cash Accounts Receivable Inventory-Guitars Inventory-Violins 13200 18000 18100 18200 Long-Term Assets 15000
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Hello ! Help me with this question and please do provide explanation ABC Ltd. just issued 20,000 FRNs, (floating rate notes), each with the face value of US $50,000, maturity of 7 years, interest payment per annum and interest rate set as follows: i= Beginning of the period LIBOR + 1.0% Interest rate reset period is 3 months. LIBOR is 2% per annum
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Explain the possible impact on financial management of the development bank being formed by the BRICS countries as well as the economic performance of these countries.

Part 2: A case study Assume: You are a financial adviser and are approached by a married couple, Keith and Patti Richards. Both are 70 years old and Australian citizens. The following information is an extract of data you gathered as part of the fact-finding exercise during an initial client consultation with them: The couple has approached you

4. The plane P is the yz-plane in R3. Let p be the point 345. Find a line segment in R3 passing through p to the plane, P, using convex linear combinations and set notation. You are free to choose any point on the plane P that is not the origin, and must include an explanation using complete sentences
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help me please! Required information (The following information applies to the questions displayed below.) The transactions of Spade Company appear below. a. K. Spade owner, invested $10,750 cash in the company in exchange for common stock b. The company purchased supplies for $312 cash. c. The company purchased $5.945 of equipment on credit. d.
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Item 1: Entity A incurred the following during the year in which it constructed a new facility. 1. Real estate purchased as facility site (seller valued land at $300,000 and building at $40,000; Entity A demolished the existing building) Entity A paid 10% down and the seller accepted a note for the balance. $340,000 2. Accrued real estate taxes

It is February 25 th of 2022, Isabelle and Jaxon have come to you asking for tax consultation. They were married from 1997 till 2012 with two children Elie and Antoine. In 2012, they got divorced. Isabelle is now 46 years old and lives with her two children, Elie (19 years old), and Antoine (12 years old), in her new house located in Oakville, ON,

Internal controls is a very important area for any company, especially large companies that deal with large volumes of transactions and employ thousands of individuals. Locate an article that discusses a specific company's internal controls. Based on your findings, please discuss an important internal control issue that companies are having to

Holimont Ltd. (HL) has unlimited no-par common shares authorized. The following transactions took place in the first year: To record authorization of shares by board of directors (memorandum). Issued 230,000 shares at $80; collected cash in full and issued the shares. Share issue costs amounted to $50,000. Treat this amount as a reduction of the

On January 1, 20X8, Pullman Company acquired 30 percent of Skate Company's common stock, at underlying book value of $100,000. Skate has 100,000 shares of $2 par value, 5 percent cumulative preferred stock outstanding. No dividends are in arrears. Skate reported net income of $150,000 for 20X8 and paid total dividends of $72,000. Pullman uses the

please answer correctly Question 19 The alternatives. D, E and Fare under consideration for a new service truck. Monthly costs associated with the alternatives are listed below Maintenance costs Fuel costs Alternative D Alternative E Alternative F $2.200 $2,200 $2.200 $1,500 $1,500 $1,500 Are the maintenance costs and fuel costs relevant in the
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On June 1, Michelle Sasse started Divine Creations Co., a company that provides craft opportunities, by investing $15,200 cash in the business. Following are the assets and liabilities of the company at June 30 and the revenues and expenses for the month of June. must be done in a Assets = Liability + Equity + R/E + [Revenue - Expenses] format
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I would like you to find a recent news article from a reputable source that discusses a topic that relates to our class thus far. Please provide us with a brief summary (avoid restating the entire article) of the article and place more of your focus on both how the article relates to our class and what is important about it in regards to our

When determining the number of days a taxpayer has rented out a home during the year, any day when the home is available for rent but not actually rented out counts as a day of rental use. Group startsTrue or False

Currently, a public company s CEO and CFO are the only two members of senior management required to attest to the effectiveness of internal controls over financial reporting. In a circumstance similar to Koss Corporation, where the Principal Accounting Officer ( PAO ) is not also the CFO, do you believe ( and why ) the PAO should be required to

Please answer both parts A and B of the question. Franklin Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate beca economic conditions vary in different regions of the country. The growth expectations per quarter are 5 percent for Cummings Division, 3 percent for Springficid
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so for part A I got r'(t) = Not sure if I did part B correct: T(t) = / sqrt (cos2t+9e^-2t/(t-1)^4) need help for c and d 1. For the function r(t)=cos(t),3et,t11 a) Find the tangent vector (also known as velocity vector) b) Find the unit tangent vector (notation: T(t) ) c) Evaluate T(t) at the point when t=0 d) Evaluate r(0) and identify the point
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Information taken from Allied Pipe Companys records for the most recent year is as follows: Direct material used $ 211,000 Direct labor 76,400 Variable manufacturing overhead 39,000 Fixed manufacturing overhead 64,000 Variable selling and administrative costs 32,800 Fixed selling and administrative costs 18,000 Required: 1. Assuming Allied Pipe

Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $149,000. On that date, the fair value of the noncontrolling interest was $37,250, and Slice reported retained earnings of $43,000 and had $96,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice.
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