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Olive Enterprises experienced the following events during 2012.
1. Acquired cash from the issue of common stock.2. Paid cash to reduce the principal on a bank note.3. Sold land for cash at an amount equal to its cost.4. Provided services to clients for cash.5. Paid utilities expenses with cash.6. Paid a cash dividend to the stockholders.
Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation.
At least three recommendations you can make, within the context of law and ethics, so each company can improve its financial health.
After reading an article about activity-based costing in a trade journal for the furniture industry, Santana Rey wondered if it was time to critically analyze overhead costs at Business Solutions.
A fire totally destroyed office equipment and furniture which Monica uses in her business. The equipment had an adjusted basis of $15,000 and a FMV of $10,000 before the fire.
Deviney Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.86 direct labor-hours. The direct labor rate is $8.20 per direct labor-hour.
you are the systems analyst for the wee willie williams widget works company. you have decided to review the order
Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.
Suppose you are studying two hardware lease proposals. Option 1 costs $4,000,but requires that the entire amount be paid in advance.
Dan and Patrick have asked you, their accountant, to determine how their repayments should be treated for tax purposes. Dan is still working as a highly compensated executive for Osprey while Patrick is retired and living off his savings.
Tyneka inherited 1,000 shares of Aqua, Inc. stock from Joe. Joe's basis was $35,000, and the fair market value on July 1, 2012 (the date of death) was $45,000. The shares were distributed to Tyneka on July 15, 2012. Tyneka sold the stock on Ju..
Post beginning balances in ledger accounts (t-accounts) from the December 31, 2009 post-closing trial balance. Prepare journal entries to record each transaction for DeeDee's Designs. (A general journal is provided. Multiple pages will be needed.)
Indicate the cost category to which the item belongs - list of such costs and expenses
last year ace charged 3013333 depreciation on the income statement of andrews. if early this year ace purchased a new
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