Solution-Discuss how the preceding post-balance-sheet events

Discuss how the preceding post-balance-sheet events

Assignment Help Cost Accounting

Reference no: EM13554640

Madrasah Corporation issued its financial statements for the year ended December 31, 2008, on March 10, 2009. The following events took place early in 2009.

(a) On January 10, 10,000 shares of $5 par value common stock were issued at $66 per share.

(b) On March 1, Madrasah determined after negotiations with the Internal Revenue Service that income taxes payable for 2008 should be $1,270,000. At December 31, 2008, income taxes payable were recorded at $1,100,000.

Instructions

Discuss how the preceding post-balance-sheet events should be reflected in the 2008 financial statements.

Reference no: EM13554640

Questions Cloud

Determine the velocity of the wave on the string : A long string is moved up and down with simple harmonic motion with a frequency of 46 Hz. The string is 579 m long and has a total mass of 46.3 kg. Determine the velocity of the wave on the string

Bullock furniture company manufacture-determine the balances : Bullock Furniture Company manufactures furniture. Bullock uses a job order cost system. Balances on April 1 from thematerials ledger - Determine the April 30 balances that would be shown in the materials ledger accounts.

Find what is the buoyant force acting on the sphere : A sphere of radius 10.0 cm floats in equilibrium partially submerged in water with it's lowest point 5.00cm below the water's surface. What is the buoyant force acting on the sphere

What is the total energy of the spring-mass system : A mass (m=5kg) is attached to a horizontal spring and placed on a frictionless surface. The spring-mass system is compressed, and released. What is the total energy of the spring-mass system

Discuss how the preceding post-balance-sheet events : Discuss how the preceding post-balance-sheet events should be reflected in the 2008 financial statements - Madrasah Corporation issued its financial statements for the year ended December 31, 2008, on March 10, 2009.

What is average kinetic energy for each type of gas molecule : A cylinder contains a mixture of helium and argon gas inequilibrium at 160°C. (a) What is the average kinetic energy for each type of gas molecule?

Determine the amplitude of the simple harmonic motion : A microphone is attached to a spring that is suspended from the ceiling, as the drawing indicates. Directly below on the floor is a stationary 659-Hz source of sound. The microphone vibrates up and down in simple harmonic motion with a period of 2..

Present a balance sheet for the new partnership : Journalize the additional entries to record Evans entrance to the partnership and present a balance sheet for the new partnership as of June 1, 2012.

Explain changing the reaction buffer to extremly high ph : changing the reaction buffer to extremly high ph with addition of sodium carbonate is said to stop the reaction. what 2 things are happening in the test tube upon addition of this caustic chemical be specific

User Account

All Pages

Discuss how the preceding post-balance-sheet events

Reference no: EM13554640

Reference no: EM13554640

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT