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Excludable Gifts. Which of the following would be includible in gross income?Alice appeared on a TV quiz show and received a prize of $5,000.Bart received $500 from his employer because he developed an idea that reduced the employer's production costs.Chuck borrowed $500 from his mother in order to finance his last year in college. Upon his graduation, Chuck's mother told him he did not have to repay the $500. She intended the $500 to be a graduation present.
Assuming the only changes in retained earnings in 2009 were for net income and a $50,000 dividend, what was net income for 2009?
Office supplies of $900 were purchased on account to be used infuture months. One part of the accounting entry to record this event in the accounting system would be to:
Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2015?
The CEO of your company has requested that you prepare a written presentation to be given at the next board of directors meeting regarding the continuing impact that the information age has on financial accounting.
Prepare the journal entries to: (a) Issue $100,000 bonds which sold for $94,000. (b) Issue $100,000 bonds which sold for $104,000.
Examine the work sheet and the general ledger accounts. Make a list of the errors you find. Prepare a corrected work sheet. Correct any errors you find in the general ledger accounts.
texas had a herd of cattle including heifers and steers that have not yet been weaned. texas does not anticipate
conan company has total fixed costs of 112000. its product sells for 35 per unit and variable costs amount to 25 per
On December 21, 2006, Bucky Katt Company provided you with the following information regarding its trading securities. December 31, 2006 Investments (Trading) Cost Fair Value Unrealized Gain
paulson company issues 6 four-year bonds on december 31 2013 with a par value of 90000 and semiannual interest
xyz company has the following product costs for its line of product a direct materials 10 direct labor 8 variable
One quarter of the principal plus interest is payable on June 30 of each year beginning June 30, 2009. Property owners are assessed to provide the funds to pay the principal and interest on the debt.
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