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Paul invest $10,000 cash in an equipment leasing activity for 15% ownership share in the business. The remaining 85% owner is Amanda. Amanda contributes $10,000 and personally borrows $75,000 that she also invests in the business. What are the at-risk amounts for Paul and Amanda? a. Paul $10,000 Amanda $10,000b. Paul $10,000 Amanda $85,000c. Paul $10,000 Amanda $73,750d. Paul $21,250 Amanda 73,750
The common stock of EBM Corporation is $100 per share. The expected dividend on its stock in the current period is $5, and the firm's cost of common stock is 12%. What is the firm's dividend growth rate (assume that the growth rate is constant)?
If you received the utility bill for $400 but the bill is not due until the 15th of the following month how would you journalize them? What account would be debited and what would be credited?
In 2009, Mark has $18000 short-term capital loss, $7000 long term gain, and $6000 long term gain. Which of the statements below is correct?
A chair manufacturer has two divisions: framing and upholstering. The framing costs are $100 per chair and the upholstering costs are $200 per chair. What is the minimum transfer price for this company?
During 2010, Vaughn Corporation sold merchandise costing $1,500,000 on an installment basis for $2,000,000. The cash receipts related to these sales were collected as follows: 2010, $800,000; 2011, $700,000; 2012, $500,000.
Prepare journal entries associated with changes due to errors. How do they relate to the practice of accounting and its uses in business?
Teresa is a civil engineer who uses her automobile for business evenly throughout the year. Teresa drove her automobile a total of $22,650 miles evenly during 2011, of which 95% was business mileage.
What type of fraudulent activity could this have been and what type of testing could have been included in the audit to discover it? What can auditors do to verify inventory levels and that no fraudulent activity is occurring between annual inven..
The following transactions involve intangible assets of Penner Co occurring on or near Dec 31, 2004. Write journal entries needed at the date to record the transaction and at December 31, 2005 to record any resultant amortization. Write NA if no e..
B. Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the TC Partnership. At the same time Chen will invest a building which is worth $90,000 to the partnership. What will be the journal entry to record the formation of t..
Show the loan in the balance sheet of the company
Are the materials costs and processing costs relevant in the choice between alternatives A and B? (Ignore the equipment rental and occupancy costs in this question.)
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