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An activewear buyer bought $24,000.00 of stock in a blue tank top. This reflected 35% of the activewear tanks purchased. How much stock does the company own in this category, rounded to the nearest dollar?
Declared a $0.80 per share dividend on the common stock (100,000 shares issued, 92,000 shares outstanding). The date of record is January 31, and the payment due date is February 15.
A company paid $500,000 for 12% bonds with a par value of $500,000. The bonds pay 6% interest semiannually on September 1 and March. Prepare the general journal entry to record the first interest payment on June 30, 2009.
Show the conceptual issues involved and the definition of assets that can be applied in evaluating whether development expenditure should be treated as an asset or an expense.
A foreign wholesaler offers to buy3,360units at $25each. Harley will incur special shipping costs of $1per unit. Assuming that Harley has excess operating capacity.
What type of reorganization has taken place? Describe the tax consequences to Taylor Corporation, its former shareholders, and Superior Corporation.
This merchandise was omitted from the year-end physical count. How will these errors affect inventory at year-end and cost of goods sold for the year?
Each ticket entitles the visitor to attend the IMAX giant screen sense around movie as well as the traditional planetarium.
What are the problems associated with dependence on human information processing and paper documentation? Explain your response. Illustrate the advantages and disadvantages of using real-time versus batch accounting information architecture?
At the time of the liquidating distribution, the land had a fair market value of $100,000. Illustrate what amount of loss will Black Corporation recognize on the distribution of the land?
If a CPA knows that the client has a material error on a prior year’s return, he should not, without the client’s consent, disclose the error to the IRS.
computation of net present value.accounting rate of i9turn payback and npv busy beaver corp. is interested in reviewing
Compute the sales level required in both dollars and units to earn $210,000 of after-tax income in 2010 with the machine installed and no change in unit sales price. Assume that the income tax rate is 30%.
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