Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Dakota Equipment, Inc issued 4,000 shares of its $1 par value common stock for $20 per share on January 1, 2010. On the same day, the company purchased a piece of land valued at $10,000 and a building valued at $40,000. The yearly depreciation on the building is $2,000. Required: Prepare the general journal entries to record the stock issue and the purchase of the land and building on January 1 and the depreciation expense on December 31, 2010.
Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6%. They have not declared any cash dividends on the stock in the last 3 years.
Prepare the journal entry for these transactions under the cost method of accounting for treasury stock.
What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?
What were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs and the ending inventory was 40% complete as to conversion costs?
A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (A) What is the company's recognized gain or loss on the sale?
Paul invest $10,000 cash in an equipment leasing activity for 15% ownership share in the business. The remaining 85% owner is Amanda. Amanda contributes $10,000 and personally borrows $75,000 that she also invests in the business. What are the at-..
Discuss the rationale for GASB requiring raw sets of financial statements, each with a different measurement focus and basis for accounting for government activities. Do you agree with this rationale or not? Explain why.
What amount of the refund, if any, should Grace include in her gross income if last year her total itemized deductions exceeded the standard deduction by $350?
Assume total liabilities are $40,000, total stockholders' equity $75,000, and all assets, other than current assets, total $50,000. What would be the amount of current assets?
You are given the following facts about a one-shareholder S corporation, and you are asked to prepare the shareholder's ending stock basis.
Elizabeth's property had an adjusted basis of $9000 and a fair market value of $10,500, and Elizabeth gave Debbie $4500 in cash. Determine Debbie's and Elizabeth's realized gain of loss, recognized gain or loss and the basis in their new property.
No investment income was included within either of these income totals. How would the 10% investment in Prescott owned by Bell be presented in the consolidated balance sheet?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd