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Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 2007 is $7,500.
What are the tax consequences to Bluejay and to Redbird as a result of Bluejay's liquidation?
On 20 March, Batavia's petty cash fund of $100 is replenished when the fund contains $9 in cash and receipts for postage $51, freight-out $25, and travel expense $10. Prepare the journal entry to record the replenishment of the petty cash fund.
How much should Mr. Graff pay for a gold mine expected to yield an annual return of $20,000 and to have a life expectancy of 20 years, if he wants to have a 15% annual return on his investment and he can set up a sinking fund that earns 10% a year..
There was $800 of supplies on hand at the end of the year. Prepare the adjusting entry for the end of the year.
How would I calculate an annuity contract that pays $800 per month. The annuity cost $60,000 and it has an expected return of $100,000. How much of each monthly annuity payment is includible in a gross income?
Does warranty accrual decision create any ethical dilemma for Bly and since warranty expenses vary, what % do you think Bly could select for the current year? Justify your response.
Explain why the quantity purchased is used in computing the direct materials price variance, but the actual quantity consumed is used in computing the direct materials quantity variance.
How do you describe the continued existence of counter trade? Under what scenarios may its popularity increase still further by the year 2015?
During 1st year of operations Klump Corporation had the following transactions pertaining to its common stock.
Calculate the initial return earned by investors who are allocated shares in the IPO. What is the total cost ( underwriting fee and underpricing) of this issue to WCMC?
Radon Homes' current EPS is $6.50. It was $4.42 5 years ago. The company pays out 40% of its earnings as dividends, and the stock sells for $36. Calculate the past growth rate in earnings.
Determine which step in estimating a cost function using quality analysis is the most likely to present the greatest challenge and how you would address that challenge.
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