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As of December 31, 2013, Post Company had total cash $156,000, notes payable of $85,000, and common stock of 52,000. During 2014, Post earned 36,000 of cash revenue, paid $20,000 for cash expenses, and paid a $3,000 cash dividend to stockholders a.) determine the amount of retained earnings of December 31, 2013 b.) Create an account equation and record the begeinning account balances under the appropriate elements. c.) record the revenue, expenses, and dividend events under the appropriate elements of the accounting equation created in Requirement b. d.) prove the equality of the accounting equation as of December 31, 2014. e.) identify the beginning and ending balances in the cash and common stock accounts. Explain why the beginning and ending balances in the cash are different, but the beginning and ending balances in the common stock account remain the same.
Sloane Products has no Work in Process or Finished Goods inventories at the close of business on December 31 of the current year. The balances of Sloane Products' accounts as of December 31 are as follows:
Are members of Management ethically bound to perform unethically? I
List and discuss several factors that would have contributed to an increased inherent risk assessment at the financial report level. Also identify which of these factors may be identified during the strategic business risk assessment.
Create a list of three best practices concerning vendors and purchases. Explain how these practices would improve the quality of information provided to management, using specific examples to support your response.
The selling price of a particular product is $38.00 per unit, fixed costs total $175,000, and the breakeven sales in dollars is $875,000, what will the variable expense per unit be?
In January 2012, Wallace, Inc. acquired a 25% interest in Minaj, Inc. for $1,750,000, giving Wallace significant influence over Minaj. Any excess of purchase price over book value was considered goodwill
First Link Services granted 4.6 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within four years. The common shares have a market price of $12 per share on the grant date. Ignoring taxes, what is ..
2000 is deposited into a newly opened fund on January 1, 1999.- Calculate the balance of the fund on July 1, 1999, immediately before the deposit is made
What type of interest rate swap would be appropriate for a speculator who believes interest rates soon will fall?
A total of 80,000 units were produced and sold last month. How many units would company have to sell to achieve a desired profit of $1,200,000?
Perform a three-way breakdown of the total overhead variance, as follows Overhead spending variance and Variable overhead efficiency variance.
What types of goods are these public goods? (c) If the price or cost of college and university education increase by 10 percent and, at the same time, incomes also increase by 10 percent, what would be the change in the demand for college and univ..
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