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Adjusting Entries: Shabbona Corporation operates a retail computer store. To improve delivery services to customers, the company purchased a new truck on April 1, 2010. The terms for the acquisition of the truck are: it has a list price of $15,000 and is acquired for a cash payment of $13,900. Write the journal entry to record the purchase of the truck. Write Dr. for debit and Cr. for credit.
1.nikkel corporation a merchandising company reported the following results for julynbspnbspsales433000
Linda Ratzlaff decides to purchase from an existing partner for $50,000 a one-third interest in a partnership. What effect does this transaction have on partnership net assets
Company has assets of $1,800,000, liabilities of $1,100,000 and stockholder's equity of $700,000. (a) prepare the journal entry to record the lease, and (b) compute the and comment on the debt to total assets ratio at the year-end.
Prepare new income statements for the firms assuming each sells one unit less (i.e. each firm sells 9 units)
The company"s marketing manager, Chris Ahrentzen, suggests running a promotion selling $50 gift cards for $45. He believes that this would be very popular and would enable the company to meet its targets for revenue and net income. What do you thi..
yu company purchased a producing oil well for 5000000. the well was expected to produce 500000 barrels of oil over its
flip company purchased equipment on january 1 2011 for 90000. it is estimated that the equipment will have a 5000
in what significant way do not-for-profits account for investments differently from
The present value at December 31, 2011 of the eight lease payments over the lease term discounted at 10% is $1,173,685. Assuming all payments are made on time, the amount that should be reported by Lang Corporation as the total obligation under ca..
What factor(s) do U.S. taxing authorities consider to determine whether the interest is investment income not subject to U.S. taxation or business income subject to U.S. taxation?
on june 1 melendez company borrows 90000 from first bank on a 6-month 90000 12 note. required a prepare the entry on
an employee receives an hourly rate of 24 with time and a half for all hours worked in excess of 40 during a week.
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