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On March 4, Breen Corporation acquired 7,200 shares of the 200,000 outstanding shares of Melton Co. common stock at $42 plus commission charges of $170. On June 15, a cash dividend of $1.85 per share was received. On October 12, 3,100 shares were sold at $49, less commission charges of $165.
Using the cost method, journalize the entries for (a) the purchase of stock, (b) the receipt of dividends, and (c) the sale of 3,100 shares. Refer to the Chart of Accounts for exact wording of account titles. When required, round your answers to the nearest dollar.
Al borrows $40,000 from the bank. This loan is in the form of a note that is due in two years (7/31/16) and bears interest at the rate of 6% per year. All of the interest and principal is due at the end of the note period. What is the journal entry f..
The following problem is an introduction to production costs: River Queen Corporation began operations early in the current year, building luxury boats. During the year, the company started and completed 40 boats at a cost of $80,000 per unit.
Make a Flexible Budgeted Income Statement using Variable costing and Budgeted Income Statement and Flexible Budgeted Income Statement Variable Costing , Variance Analysis
The fiscal year ends December 31 for Lake Hamilton Development. To provide funding for its Moonlight Bay project, LHD issued 5% bonds with a face amount of $650,000 on November 1, 2016. The bonds sold for $574,879, a price to yield the market rate of..
computation of value of mortgage.kim and dan bergholt are both government workers. they are considering purchasing a
Morganton Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations: The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and Septe..
Janice has interest income of $5,000 on certificates of deposit at Second Bank. Janice makes estimated tax payments of $17,000 for 2011.
In the month of March, Trendy Spa services 630 clients at an average price of $120. During the month, fixed costs were $18,648 and variable costs were 65% of sales. Determine the contribution margin in dollars, per unit, and as a ratio
Analyzing the statement based on trend analysis - The purpose of this assignment is to compute a trend analysis and interpret the results.
compute the unit product cost under both absorption and variable costing. Create an income statement for the year using absorption costing
Perspectives for Keiretsus could be: from the point of view of the Japanese economy, benefits and risks, from the perspective of the companies, from the perspectives of the employees, etc. Be creative, don't take the easy path.
You purchase a boat fpr $35,000 and pay $5,000 down. You also agree to pay the rest over the next 10 years in10 equal end of the year payments plus 13% compound interest on the unpaid balance. What will be the amount of each payment?
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