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Tony Merchandise Company has the following information for the month of February:
Feb. 2
Beginning inventory
20
units
@
$12
per unit
Feb. 5
Purchase
$16
Feb. 8
Sale
12
Feb. 21
$18
Feb. 25
14
Answer the following questions for Tony Merchandise Company:
V decides to accept an out-of-court settlement of $150,000. The newspaper and its insurer are willing to allocate the $150,000 in any manner that V requests. How should V have the amount allocated?
At the beginning of the year, Gal Company had liabilities of $50,000 and stockholders' equity of $96,000. If assets increased by $40,000 and liabilities decreased by $30,000, what was the stockholders' equity at the end of the year?
What are the great approaches for cash management? If you are the controller who is in charge of managing cash, what methods would you take and why? 200-250 words please.
Bell company is concsidering the disposal of equipment that is no longer needed for operations. the equipment originally cost $500,000 and accumulated depreciation to date totals $360,000.
On January 2, 2010, it purchased for cash $25,300 of equity securities that it classified as available-for-sale. It received cash dividends of $4,070 during the year on these securities. In addition, it has an unrealized holding gain on these secu..
Provide your manager a comparison of the current reporting for debt,explaining the requirements for each type (bond, mortgage, capital lease, andothers). Then, prepare the journal entries for the restructuring.
Dave Ganz started a sole proprietorship by depositing $30,000 cash in a business checking account. During the accounting period the business earned $6,000 of net income and Ganz withdrew $2,000 cash from the business.
On October 1, Kingbird Corporation made a contribution to a qualified charitable organization of $6,300 in cash (not included in any of the above items). Determine Kingbird's charitable contribution deduction for the current year.
what are adjusting entries and why are they necessary? what accounts are subject to adjusting journal entries and why?
A company purchased and installed a machine on January 1, 2004 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and no salvage value. The machine was disposed of on July 1, 2007.
Balance sheet format: Selected financial statement information and additional data for Johnston Enterprises is presented below. Prepare a statement of cash flows for the year ending December 31,2010,
because of automation which component of product cost is declining?a. direct laborb. direct materialsc.
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