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On February 1, 2010, the balance of the retained earnings account of Blue Power Corp. was $630,000. Revenues for Feb. totaled $123,000 , of which $115,000 was collected cash. Expenses for Feb. totaled $131,000, of which $108,000 was paid in cash. Dividends declared and paid during Feb were $12,000.
Calculate the retained earnings balance at Feb. 28. 2010.
Wheelie Corporation is a calendar year taxpayer. For the past nine years its taxable income has been stable, averaging $2 million per year.
Jay transferred his farm land to an LLC in exchange for a 50% interest in the capital, profits and losses. His basis in the land was $600,000 and its fair market value was $1,000,000.
What is the relationship, if any, between the amount shown in the adjusted trial balance column for an account and that account's ledger balance?
a company is negotiating with the bank for a 200000 90 day12 loan effective july 1 of the current year. if the
kubicki company operates a chain of designer bags and shoes stores in the houston area. this year the company achieved
Treasury stock that had been purchased for $5,400 last month was reissued this month for $7,500. The journal entry to record the reissuance would include a credit to
a company produces bird food. during april it produced147 batches of food each batch weighing 100 lbs. to produce this
A company has $8,200 in net sales, $1,100 in gross profit, $2,500 in ending inventory, and $2,000 in beginning inventory. The company's cost of goods sold is?
finlon upholstery inc. uses a job-order costing system to accumulate manufacturing costs. the companys work-in-process
Swan a calendar year corporation has a deficit in current E & P of 200,000 and a %580,000 positive balance in accumulated E&P. If Swan determines that a $1 million distribution to its shareholders is appropriate at some point during the year, what..
What are the two types of proprietary funds, and what are the major differences between those two?
Brain Drain is about to launch a new product. Depending on the success of the new product, there are three possible outcomes for value next year-What is Brain's total value with leverage?
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