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The following information is available for ABC Corporation at 12/31/14 regarding its investments in stocks of other companies.
Securities Cost Fair Value
2,200 shares of Toyota Corporation Common Stock $100,000 $116,000
1,100 shares of G.M. Corporation Common Stock $67,000 $84,000
= $167,000 $200,000
Prepare the adjusting entry (if any) for 2014, assuming the securities are classified as trading.
A company uses a process cost accounting system and the weighted-average inventory valuation method. Its Assembly Department's beginning inventory consisted of 50,000 units, three-fourths complete with respect to direct labor and overhead.
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Matching Items Reported to Cash Flow Statement Categories (Direct Method) - Lion Nathan, brewer of XXXX, Toohey's, and other well-known Australian brands, has net revenue of more than $2 billion (Australian).
Consider the features of perpetual inventory and respond to the following: Discuss the advantages and disadvantages of accounting for inventory under the perpetual inventory system.
Prepare the journal entries necessary to record the transactions. Prepare the entries necessary to record amortization expense for the intangible assets.
Rensing, Inc., has $800,000 of 5% preferred stock and $1,200,000 of common stock outstanding, each having a par value of $10 per share. No dividends have been paid or declared during 2013 and 2014. As of December 31, 2015, it is desired to distribute..
If Swannanoa Company's budgeted sales are $1,000,000, fixed costs are $350,000, and variable costs are $600,000, what is the budgeted contribution margin ratio? If the contribution margin ratio is 30%, sales are $900,000 and fixed costs are $200,000,..
Stellar Packaging Products is considering diversifying its product line offerings into candy and other food bag packaging. This would require a major investment outlay for machinery and equipment. Give one example of different costs that would be con..
What is the ROI for each year of the asset's life if the division uses beginning-of-year net book value asset balances for the computation?
Paige, age 17 is claimed as a dependent on her parents 2014 return on which they report taxable income of 120000 ( no qualified dividends or capital gains). paige earned $3,900 pet sitting and $4000 in interest on a savings account. What are paige's ..
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