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Grant Film Productions wants to expand and has borrowed $100,000. As a condition for making this loan, the bank requires that the store maintain a current ratio of at least 1.50.
Business has been good but not great. Expansion costs have brought the current ratio down to 1.40 by December 15. Rita Grant, owner of the business, is considering what might happen if she reports a current ratio of 1.40 to the bank. One course of action for Grant is to record in December $10,000 of revenue that the business will earn in January of next year. The contract for this job has been signed.
Sabonis Corporation reported net income of $400,000 in 2008 and had 50,000 shares of common stock outstanding throughout the year.
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2013 balance sheet reported the following: cash, $1,340,000; prepaid expenses, $400,000; noncurrent assets, $2,800,00..
Laurie has a brokerage account at Dean Schwab, Inc. She makes investments on margin through this account. During the current year, she incurs $10,000 in margin interest in the account. Income generated through the brokerage account was.
With respect to this capitalized lease, for 2008 calculate how much Carley should record for both interest expense and depreciation expense.
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The December 31 , 2013 balance sheet of schism inc 120,000 in common stock account and 2,120,000 in the additional paid in surplus account.
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kyle worked as a free-lance software engineer for the first three months of 2013. during that time he earned 44000 of
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