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In 2006 Bombay Corporation had cash receipts of $14,000 and cash disbursements of $8,000. Their ending cash balance at December 31, 2006 was $22,000. What was their beginning cash balance?
What is the legal capital of the corporation? At what average price per share has the preferred stock been issued? How many shares of common stock have been issued?
Why the small business need recording system in their business. What are the advantages of recording system in small business
Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit?
How would the company's aftertax cash inflow be affected if (a)it donated the land or (b) it sold the land for $110,000? How would its net income be affected?
Compute the annual depreciation expense for 2006 and 2007, and book value at December 31, 2007, under the straight-line method.
This spike is during the "crazy" months of January, February, and March, when many companies are rushing to get out their annual reports and marketing materials. Liu obtains the following budgeted data for 2008: (see attached)
XYZ Company is building a new hockey rink at a cost of $1,500,000. It received a down payment of $500,000 from local businesses in support of the project and now needs to borrow $1,000,000 to complete the project. It therefore decides to issue $1,..
Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the 'veil of incorporation' being lifted for insolvent trading.
Pardee Company earned $25,000 of cash revenue. What kind of transaction is this?
Explain the accounting alternatives that Bonanza Trading Stamps, Inc. should consider for the recognition of its revenues and related expenses.
Northwood paid $150,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to three places, and use your computed percentages throughtout.
The basis for classifying assets as current or non-current is the period of time normally required by the accounting entity to convert cash invested in:
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