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Company took loans of $400000 from mbl as well as issued 8% debentures of $500000b as collateral security pass journal entries regarding issue of debentures if any and show the loan in the balance sheet of the company
Hutchinson Company had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set ..
Problem: SO University's business program has the facilities to handle 2,000 students per semester. In an effort to limit class size to reasonable level (under 200).
If economic depreciation refers to diminution in value because of obsolescence, physical wear and tear, technological advances in substitute goods, or changes in consumption behavior.
Accurately define the differences between Muslims and Arabs, giving examples of the geographic locations of concentrated populations of both in the United States and in the Middle East.
There are three partners in Stewart Enterprises: Stewart, Tedder and Armstrong. At the end of the year, the partners' capital accounts were in the ratio of 2:1:2, respectively. Compute the ending capital balances of the three partners. (Do not ..
Lake Shuttle Inc. is considering investing in two new vans that are expected to generate combined cash inflows of $20,000 per year. The vans' combined purchase price is $65,000. The expected life and salvage value of each are four years and $15,00..
Goerge owns a sole proprietorship and Kevin is the sole shareholder of a C (regular) corporation. Each business sustained a $16,000 operating loss and a $2,500 capital loss for the year. Evaluate how these losses will affect the taxable income of ..
There is a $40,000 realized gainon the sale of the land and no realized gain or loss on the sale ofthe bonds. Are the tax consequences to Ivan and Grace the same for each of the five years? Explain.
On February 1, 2010, Katz corp. purchased a small lot and unusable building for $12,000, including back taxes of $1,000. On March 1, 2010, the lot was cleared, paved, and fenced to provide additional parking for employees.
Compute basic and diluted EPS for the year ended December 31, 2009.
Flyaway Travel Company reported net income for 2009 in the amount of $90,000. During 2009, Flyaway declared and paid $2,125 in cash dividends on its nonconvertible preferred stock.
Both Adams and Wolfe are large public corporations with subsidiaries throughout the world. Adams uses a centralized approach and makes most of the decisions for its subsidiaries. Wolfe uses a decentralized approach and its subsidiaries ma..
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