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Udoh Investment Limited has a registered capital ofN1,000,000 ordinary shares of N1each issued and fully paid. The directors raised 4% debentureof N100 each for public subscription on 1st July1990 payable by instalments as follows:
N40 per Debenture on ApplicationN60 per Debenture on Allotment
All the debentures were fully subscribed and allotted. Application and Allotment money were received on 8th and 12th July1990 respectively. You are required to make entries in thebooks of the company.
What section of the annual report can you find explanation for increase/decrease in sales and earnings?
In the fall of 2013, James went back to school to earn a masters degree. He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000. His Lifetime Learning Credit is:
Olga's sole proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the sole proprietorship on her individual income tax return (form 1040).
Suppose the product manager of a new Flower Mills cereal has determined that the appropriate wholesale price for a carton of the new cereal is $48. The fixed costs for the production and marketing of the new product are $15million.
A statement of comprehensive income does not include: A) Gains resulting from the return on assets exceeding expectations. B) Gains and losses on unsold held-to-maturity securities. C) Losses resulting from the return on assets falling short of expec..
What is the projected ending retained earning balance of march 31, 2012, assuming that 2010 was their worst year of business?
Shawn, who is single and has no dependents, has a regular tax liability of $15,820, taxable income of $70,000, tax preferences of $25,000, and positive adjustments attributable to limitations on itemized deductions of $15,000. Shawn's alternative ..
Prepare the stockholders' equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2012. Account for treasury stock using the cost method.
The total equivalent units for direct materials and conversion are 38,000 liters and 40,000 liters, respectively. Determine the direct materials and conversion cost per equivalent unit. Round all answers to nearest cent.
Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected. Also indicate whether demand or supply increases or decreases. Then draw the diagram to show the effect on t..
Compute the predetermined overhead rate. Compute the overhead applied. Find out the amount of overhead that is over or under applied.
Described below are certain transactions of Edwardson Corporation. The company uses the periodic inventory system. Make all journal entries necessary to record the transactions above using appropriate dates.
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