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Presented below are data taken from the records of Morgenstern Company. Additional information:
1. Held-to-maturity securities carried at a cost of $43,000 on December 31, 2009, were sold in 2010 for $34,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.
2. Plant assets that cost $60,000 and were 80% depreciated were sold during 2010 for $8,000. The loss (not extraordinary) was incorrectly charged directly to Retained Earnings.
3. Net income as reported on the income statement for the year was $59,000.
4. Dividends paid amounted to $10,000.
5. Depreciation charged for the year was $28,000. Prepare a statement of cash flows for the year 2010 using the indirect method.
jones widget company jwc incorporated near the end of 2007. operations began in january of 2008. jwc prepares adjusting
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On January 1, 2012, a foundation made a pledge to pay $ 30,000 per year at the end of each of the next five years to the Cancer Research Center, a non-profit voluntary health and welfare organization as a salary supplement for a well- known resear..
On the date the stock is sold the market price is 12 a share. What is the basis that Judd must use in computing any gains and losses on the sale and what is the amount of gain or loss he must recognize in 2010?
What factors create needs for changing pension expense every year? If you worked in management at a company, what criteria would you evaluate in making pension decisions every year?
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a manufacturing has prepared the following income statementsales 450000cogs 200000gross margin 250000operating expenses
Which of the "decision" are relevant to the auditor's evidence accumulation?
new vision company completed its income statement and balance sheet for 2010 and provided the following
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