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On may 1, 2010, stanton company purchased 50000 of harris company's 12% bonds at 100 plus accured interest of $2,000. On June 30,2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold 40,000 of the bonds at 103 plus accured interest . The journal entry Stanton will record on June 30, 2010, will include:
a- a credit to interest revenue for 2,000
b- a debit to cash for 3000
c- a debit to cash for 2000
d- a credit to interest receivable for 1000
On June 30, Gull distributes $120,000 to Sharon, its sole shareholder, who has a basis in her stock of $75,000. How much of the $120,000 is a dividend to Sharon?
The expected life and salvage value each are four years and $15,000 respectively. Lake Shuttle has an average cost of capital of 14%. A. Calculate the net present value of the investment opportunity.
Which of the following should be deducted from net income in calculating net cash flow from operating activities using the indirect method?
On July 1, the Watson Shoe Store paid $6,000 to Ace Realty for 4 months rent beginning July 1. Prepaid rent was debited for the full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Watson Shoe Company is ..
The mcDaniel company s financing plans for next year include the sale of long term bonds with a 10% coupon. The company believes it can sell the bonds at a price that will provide a yield to maturity of 12%. If the marginal tax rate is 34%, what i..
Describe a business situation where you have had to explain a complex problem or solution to a client or colleague. Describe the situation, your approach, and the outcome:
Wade's Market recorded the following events involving a recent purchase of merchandise:
Prepare the necessary journal entry to close the overhead account of the balance is considered immaterial.
Assuming the computer has a ten-year life and will have no salvage value at the expiration of the lease, what was the original cost (present value) of the computer to Stark?
Explain some disadvantages of Cliff's current investment approach. Construct a portfolio for Cliff, limiting your selections to mutual funds (assume that he sells his current stock and bond holdings). Make sure your plan indicates specific dollar a..
If the partnership sells the property contributed by Desmond for $360,000, how is the tax gain allocated between the two partners?"
Under absorption costing a company had the following per unit costs when 10,000 units were produced. Compute the company's total production cost per unit if 25,000 units had been produced.
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