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Warner Company borrowed $25,000 cash on November 1, 1998, and signed a six-month 12% interest-bearing note payable with interest payable at maturity. The amount of accrued interest payable that should be shown on the December 31, 1998 balance sheet is ?
Section 351 allows the tax-free creation of a corporation, or, rather, the tax free contribution of money or property to a corporation in exchange for stock in that corporation.
The lease terms are arranged so that a return of 12% is earned by the lessor, what is the annual lease payment required to yield the desired return???
Prepare all journal entries in all funds and the GCA and GLTL accounts to record the following transactions and events.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
The material price variance was 1370 favorable and find the standard price per kilogram for raw material?
Dekon Company's December 31 year-end unadjusted trial balance shows an $8,000 balance is Notes Receivable. Prepare journal entries for December 31 and for the note's maturity date assuming it is honored.
Gift tax returns were filed reporting these gifts. How much of her estate is subject to federal estate tax after considering the estate tax exemption?
Fiduciary funds are accounted for differently than permanent funds, even though both may account for nonexpendable resources.
Sophia inherited 1,000 shares of IBM. The father's cost was $2 per share at the time of purchase and 484 per share at the time of his death. Sophia sold them at $86 per share. Calculate the total amount of her capital gain.
Victor called you and was in a panic as he had just received a letter from the IRS, requesting an audit of his business. The letter specifically asked for support for the $ 150,000 truck operating expense. Victor had no receipts.
The Cosmo Company was started by issuing 800 shares of $10 par value stock at an average market price of $20 per share. Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Compa..
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
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