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Provide examples from the manufacturing industry of:
a) a journal entry that would be recorded that impacts the balance sheet.
b) a journal entry that would be recorded affecting the income statement.
Please provide the assumptions behind the transactions and the full journal entries.
What are the two primary ways for a company to finance its business? Which would you choose if you were forming a corporation and trying to raise funds and why?
Sally and Tom are married, have three dependent children, and file a joint return in 2012. If they have adjusted gross income (AGI) of $90,000 and itemized deductions of $10,000, what is their taxable income for 2012?
Susan Ortiz operates a covered parking structure that can accommodate up to 600 cars. Susan charges $6 per hour for parking. Parking attendants cost $12 per hour each to staff the cashier's booth at Susan's Parking. The Facility has two parking at..
Bryce Company has $1,500,000 of bonds outstanding. The unamortized premium is $21,600. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
If Lincoln Bank eliminated its compensating-balance requirement, would your answer change?
An owner decides that he wants to go ahead with manufacturing; he must spend $900,000 for the new equipment-Calculate the NPV for this project. Should it be undertaken?
A company shows the following balances: sales: 800,000, sales returns and allowances: 125,000, sales discounts: 25,000, cost of goods sold: 481,000. What is the gross profit rate?
The shareholders' equity of Green Corporation includes $200,000 of $1 par common stock and $400,000 of 6% cumulative preferred stock. The board of directors of Green declared cash dividends of $50,000 in 2011 after paying $20,000 cash dividends in..
Where on the balance sheet should a 20 year, 12% bond, due 1/1/2013 for $500,000 be listed. Is it a current liability or a long term liability?
The marketing manager has recommended that the selling price be increased by 20%, with an expected decrease of only 10% in unit sales. What would be the company's net operating income if the marketing manager's recommendation is adopted?
If 300,000 is to be distributed as a dividend for the current yearr, what total amount will be distributed to preferred stockholders and common stockholders?
The normal selling price is $18 per unit. The company's capacity is 12,000 units per month. Due to the University of Alabama participating in the BCS National Championship Game, an order has been received from a retailer for 2,000 additional T-shi..
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