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In November and December 2007, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2008 issue. Lane included the entire $90,000 in its 2007 income tax return. What amount should Lane report in its 2007 income statement for subscriptions revenue?
Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6%. They have not declared any cash dividends on the stock in the last 3 years.
Which of the following will be disclosed in the reconciliation of retained earnings?
Barry's Steroids Company has $1000 par value bonds outstanding at 12 percent interest .The bonds will mature in 50 years. Compute the current price of the bonds if the percent yield to maturity is:
Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
Sheniqua, a single taxpayer, had taxable income of $73,239. Her employer withheld $14,077 in federal income tax from her paychecks throughout the year. Using the tax tables
If a company assigns factory labor to production at a cost of $42,000 when standard cost is $40,000, it will:
Discuss how gift and estate taxes are "unified." What is the impact of taxable gifts on the donor's death tax base?
What were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs and the ending inventory was 40% complete as to conversion costs?
Calculate the manufacturing cost markup needed to obtain a target profit of $100,000.
Your hospital has the following revenue for the months of July-September: July $2,000,000 August $3,000,000 September $4,000,000. If 30% of the month's revenue is collected in the same month, 40% is collected in the second month and 30% is collect..
Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. Prepare the journal entries for the above transactions. Show calculations.
Determine the proper balance sheet presentation and amounts for the above items.
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