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Wasserman Corporation issued 10-year bonds on January 1, 2011. Costs associated with the bond issuance were $160,000. Wasserman uses the straight-line method to amortize bond issue costs. Prepare the December 31, 2011, entry to record 2011 bond issue cost amortization.
On November 1, 2009, Bug Busters collected $6,000 in advance for three months of service to be provided beginning on that date. It was credited in full to unearned rent revenue. Assuming the accounting year ends December 31, give the adjusting ent..
A company acquires land by issuing 10,000 shares of its $10 par value common stock currently trading at $20 per share and the appraised value of the land is $250,000. We would record the land by:
What is the purpose of the Statement of Cost of Goods Manufactured?
Dick owns a house that he rents to college students. Dick receives $750 per month rent and incurs the following expenses during the year.
A. What is bad debt expense for 2011? B. Determine the amount of accounts receivable writted off during 2011. C. If the company uses the direct write-off method, what would bad debt expense be for 2011?
Annual cash savings from the purchase of the machine will be $20,000. Compute the internal rate of return and payback period.
Assume a business combination took place at December 31, 2009. Atwood issued 50 shares of its common stock with a fair value of $35 per share for all of the outstanding common shares of Franz. Stock issuance costs of $15 (in thousands) and direct cos..
Explain how accumulated retained earnings impact the book value of a firm's stock. Give two reasons why the market book share prices might be different. Be specific.
PM 106: Learning outcomes to be examined in this assessment: Analyse a set of financial statements including Income Statement, Statement of Financial Position and Statement cash flows.
A controlling influence over the a company you have invested in is based on you owning voting stock exceeding what percent?
On December 31, 2010, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $400,000, a due date of December 31, 2013, and a stated rate of 5%, with interest receivable at the end of each year..
Hall company uses the allowance method to account for bad debts. An account that hsd been previously written-off as uncollectable was recovered. How would the recovery affect the company's accounting equation?
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