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A local bank began charging $2.50 each month for returning canceled checks. the bank also has an 8.00 maintenance fee if a checking account slips below $750. Donna Sands likes to have copies of her canceled checks for preparing her income tax. She has received her bank statement with a balance of 535.85. Donna received 2.68 in interest and has been charged for the canceled checks and the maintenance fee. The following checks were outstanding: no. 94, 121.16; No.96, 106.30; no. 99, 64.84. A deposit of 765.69 was not recorded on Donna's bank statement. Her checkbook shows a balance of 806.94. Prepare Donna's bank reconciliation.
Quinn paid $300,000 in preferred stock dividends in 2010, and reported net income of $5,100,000 for the year. Quinn's diluted earnings per share for 2010 should be:
Tex's applies an overhead rate of $10/unit based on 200 units. If Tex's produces 210 units and has a flexible overhead budget of $1,900, the overhead volume variance is:
Pullman Corporation acquired a 90% interest in Sleeper Company for $6,500,000 on January 1 2010. At that time Sleeper Company had common stock of $4,500,000 and retained earnings of $1,800,000.
Purchased equipment paying $20,000 down and signed a noninterest-bearing note requiring the balance to be paid in four annual installments of $20,000 on the anniversary date of the contract. Based on Bright Light's 12% borrowing rate for such tran..
For Warren Corporation, year-end plan assets were $2,000,000. At the beginning of the year assets were $1,780,000. During the year, contributions to the pension fund were $120,000, and benefits paid were $200,000. Compute Warren's actual return on..
Fact Pattern for Questions 11 and 12 multiple choice questions
This project is expected to generate $44,000 of net cash inflows each year of its 6 year life. The project has no salvage value. What was the initial investment required for this project?
Using this information, with all other information the same, determine the carrying value [book value] of the bonds at June 30 of the current year?
Arnold Corp has a selling price of $15, variable costs of $10 per unit, and fixed costs of $25,000. Contribution margin is $60,000. How many units did Arnold sell?
a) prepare the journal entries for Myers Co. for 12/31/2010 b) Prepared the required journal entries for for Myers for 2011.
Explain the general rules and accounting treatments for the parent and subsidiary, including purchase price allocations; intangible assets, such as goodwill and impairment testing; intercompany transactions
At the time of the conversion, the unamortized premium is $2,000, the market value of the bonds is $110,000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in e..
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