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In November and December 2010, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2011 issue. Lane included the entire $90,000 in its 2010 income tax return. What amount should Lane report in its 2010 income statement for subscriptions revenue
Hartzler Enterprises issued 8%, 8-year, $2,000,000 par value bonds that pay interest semiannually on October 1 and April 1. The bonds are dated April 1, 2011, and are issued
An error was made in the computation of the percentage-of-completion of the current year's ending work-in-process inventory. The error resulted in assigning a higher percent
List three potential reasons for such a significant decline. What are three things Mark should consider doing to improve the ratio? How is the accounts receivable turnover rat
Berry Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2010, the first year of the corporation's existence:
All direct materials are placed in process at the beginning of production. Prepare a cost of production report, presenting the following computations:
Father, Inc., buys 80 percent of the outstanding common stock of Sam Corporation on January 1, 2011, for $680,000 cash. At the acquisition date, Sam's total fair value was a
Calculate the partners' bases in their partnership interests at the end of the first and second year? Calculate the parners' bases in their partnership interests after reflect
Three years after the contribution date, the land contributed by Cheryl is sold by the partnership to a third party for $90,000. How much taxable gain will Cheryl recognize
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