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Olive Enterprises experienced the following events during 2012. 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation.
mr. mei-yo chien is retired. he is married and the couple have the following sources of income-pension income
On August 1, it distributed property with an adjusted basis of $5,000 and a fair market value of $8,000 to its sole shareholder, Pedro Urritia. How much of the distribution will be treated as a dividend?
Determine Toni Penas net income from Deer Park for 2012 and prepare a balance sheet for Deer Park as of December 31,2012.
a construction company can lease an asset for the next four years by making lease payments that are equivalent to
Discuss the three sections of the indirect method of presentation for the Statement of Cash Flows. Also discuss why the statement of cash flow is just as important as the income statement.
how do products costs affect the financial statements? how does the classification of product cost as an asset vs. an
The company has a reportable segment if that segment's revenue exceeds what amount and what is the total amount of expense relating to these three items that should be reported?
What is target pricing?
preston concrete is a major supplier of concrete to residential and commercial builders in the pacific northwest. the
steve and karen are partners sharing profits and losses in ratio of 21.from april 12008they decided to share the
Variable finishing costs are expected to be $8 per unit with no increase in fixed costs. Prepare an analysis on a per unit basis showing whether Martell should sell unfinished or finished bookcases.
Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas on November 17, 2013. The units have a list price of $500 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30. Thomas uses a periodic in..
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