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On December 31, 2012, Barker Inc. provided consulting services to Carr Company at an agreed price of $151,121. Barker accepted $60,000 down and agreed to accept the balance in four equal installments of $30,000 to be received each December 31, beginning December 31, 2013. An assumed interest rate of 12% is imputed.Instructions: Using Excel, prepare the amortization schedule and then record all required journal entries that would be made by Barker on the following dates (a) December 31, 2012; (b) December 31, 2013; (c) December 31, 2014; (d) December 31, 2015; and (e) December 31, 2016.
Which one of the following distributions is nontaxable?
A company recorded sales of $160,000 during march. management expects sales to increase 5% in april, 3% in may, adn 5% in june. cost of goods sold is expected to be 70% of sales. What is the budgeted gross profit for june?
Hendrickson Corporation reported net income of $50,000 in 2010. Depreciation expense was $17,000. The following working capital accounts changed. Compute net cash provided by operating activities.
Take into account all types of compensation discussed in this chapter. Devise a strategy you feel is most appropriate for rewarding employees and executives. Describe the effect this strategy has on the financial statements, including earnings per..
In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO.
Pace Corporation had a taxable income of $300,000 in 2010. They had a taxable income of $1,200,000 in 2011. What is their federal income tax liability for the company for each year?
Celia and Amos, who are married filing jointly, have one dependent and do not itemized deductions. They have taxable income of $82,000 and tax preferences of $53,000 in 2010. What is their AMT base for 2010?
From the standpoint of the stockholders of a company, the ratio that measures the overall performance of a company would be calculated using which of the following?
Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..
Compute the unit cost for each department. Compute the total unit cost for the Milo Company order. The selling price for this order was $14 per unit. Was the selling price adequate? Compute the prime costs and conversion costs per unit for each depa..
Identify at least two different accounting careers that you would like to pursue. What excites you about these careers?
UUse the present value factors from near the end of your text to perform any necessary present value calculations. What is the entry to record this lease on Hall's books?
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