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Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and Adria plans to expand her business. She believes that an additional $86,000 is needed and is investigating three funding sources. a. Adria's sister Cicely is willing to invest $86,000 in the business as a common shareholder. Since Adria currently has about $129,000 invested in the business, Cicely's investment will mean that Adria will maintain about 60% ownership, and Cicely will have 40% ownership of Success Systems. b. Adria's uncle Marcello is willing to invest $86,000 in the business as a preferred shareholder. Marcello would purchase 860 shares of $100 par value, 7% preferred stock. c. Adria's banker is willing to lend her $86,000 on a 7%, 10-year note payable. She would make monthly payments of $1,000 per month for 10 years. Prepare the journal entry to reflect the initial $86,000 investment under each of the options (a), (b), and (c).
army-navy surplus ltd. began march 2011 with 70 tents that cost 20 each. during the month army-navy surplus made the
Assume the same facts except that Loon's long-term capital gain is $100,000 (instead of $60,000). Compute Loon's taxable income for the year.
a. Calculate the issue price of the bonds. b. Without prejudice to your solution in part a, assume that the issue price was $884,000. Prepare the amortization table for 2008, assuming that amortization is recorded on interest payment dates.
Show a example formula of total revenue of 800,000, expense of 200,000 for tax purposes, and depreciation expense of 130,000 for reporting purposes, the tax rate is 34 percent.
1.hamilton company uses job-order costing. manufacturing overhead is applied using a predetermined rate of 150 of
What is a committed fund balance in a governmental funds balance sheet? How does it differ from a restricted fund balance?
In Pioneer ville the price elasticity of demand fro bus ridersis .5, the income elasticity of demand fro bus riders is -0.1. Describe the relationship between bus riders and gasoline.
Prepare the journal entries to record the following transactions in Hunt Ltd’s records using the perpetual inventory system. (For multiple debit or credit entries, list accounts in order of magnitude.)
how is the transfer of energy by radiation diffrent from either conduction or
Calculate the above ratios (a)-(g) for Tech Logistics plc for the 2010 and 2011 periods. Show how you have arrived at your answers, so your tutor can provide specific feedback if errors have been made.
13,000 shares of common stock with a par value of $50 per share are issued in exchange for land and buildings. The property has been appraised at a fair market value of $810,000, of which $180,000 has been allocated to land and $630,000 to buildin..
adani inc. sells goods to geo company for 11000 on january 2 2012 with payment due in 12 months. the fair value of the
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