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During its second and third quarters of fiscal 2014, BlackBerry Limited wrote down its BB10 smart phone inventory by approximately $ 1,700,000,000 because its cost exceeded its market value. Show the effects of this adjustment on the accounting equation and show the journal entry that the company would have made to record it.
On January 2, 2010, Brock Corporation purchased a tract of land (site number 101) with a building for $600,000. Additionally, Brock paid a real estate broker's commission of $36,000, legal fees of $6,000, and title guarantee insurance of $18,000.
On February 1, 2010, Pat Weaver Inc. (PWI) issued 9%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2011, at 102. Unamortized bond premium on that date was $142,800. How much gain or loss should be recognized on thi..
Suppose a consumer has a daily income of $100 and purchases just two goods A and B. The price of good A is $5 and the price of good B is $4.
Dobbs Wholesale Antiques makes all sales under terms of FOB shipping point. The company usually receives orders for sales approximately one week before shipping inventory to customers.
The company wants to maintain a target capital structure that is 35% debt and 65% equity. The company forecasts that its net income this year will be $1,800,000. If the company follows a residual dividend policy, what will be its total dividend pa..
your firm has selected you to develop and assess the control risk over shipping and billing functions of abc company.
watkins associated industries is a highly diversified company with three divisionstucking seafood and construction.
lanora white received her accounting degree in 1992. since graduating she has obtained significan experience in a
cork company imports and sells a product produced in canada. in the summer of 2011 a natural disaster disrupted
How do they relate to the practice of accounting and its uses in business?
assume a nike outlet store began in august 20x0 with 40 pairsof running shoes that cost the store 40 each. the sale
various types of accounting changes can affect the financial statements of a business enterprise differently. assume
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