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Cornett Company, a tennis racket manufacturing company, was given $400,000 worth of property from the City of Lynchburg as an incentive to build a factory there. Prepare the journal entry for Cornett to record the receipt of the land.
What if Cornett Company received the land from a stockholder? Prepare the journal entry for Cornett to record this transaction.
What is the current status of having the same accounting standards throughout the world? Is any work being done on developing International Accounting Standards? Would you vote for or against such standards, and why?
A factory worker earns $500 per week and will receive a $2,000 bonus at year-end, a 2-week paid vacation, and 5 paid holidays. The combined amount of the accruals for bonus, vacation, and holiday pay in the weekly payroll would be:
how is a transfer price determined? describe the cost-based method. do you think it is better than the market-based
Prepare a production cost report for the Welding Department for the month of February.
conrad companys assembly department has materials cost at 5 per unit and conversion cost at 8 per unit. there are 20000
the following information pertains to ortiz company. assume that all balance sheet amounts represent both average and
1.the contribution margin ratio increases whena. variable costs as a percentage of sales decrease.b. fixed costs
a corporation issues 1500 shares of common stock for 32000. the stock has a stated value of 10 per share. the journal
jkl inc. and matthew inc. enter into a business transaction. the two corporations are related parties for tax purposes.
preston concrete is a major supplier of concrete to residential and commercial builders in the pacific northwest. the
the central valley company is a merchandising firm that sells a single product. the companys revenues and expenses for
October Corporation reported net income of $46,000 in 2012. Depreciation expense was $17,000 and unrealized holding losses on temporary investments (FV-NI) were $3,000. The following accounts changed as indicated in 2012:
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