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On March 31, 2006 Pong corporation paid its wholly owned subsidiary sung company $222500 for a plant asset having a carrying amount to sung of $200000. Pibg established an economic life of five years no residual value and the sum of the years digits method of depreciation for the plant asset. The appropriate working paper elmination for pong and subsidiary for the fiscal year ended March 31, 2007, includes a credit to depreciation expense pong in the amount of how much
1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entry to record the award of restricted shares on January 1, 2006.
No Doubt Company includes one coupon in each box of soap powder that it packs and 10 coupons are redeemable for a premium (a kitchen utensil).
Palmiero bought a franchise from Dougherty Co. on January 1, 2011, for $350,000. The carrying amount of the franchise on Dougherty's books on January 1, 2011, was $500,000.
Dillon Corporation splits its common stock 2 for 1, when the market value is $40 per share. Prior to the split, Dillon had 50,000 shares of $10 par value common stock issued and outstanding. After the split, the par value of the stock:
If the unpaid balance on the above sale is $300 at the end of the grace period, the interest charge is:
Conduct an internet search for information on certificates of deposit. Discuss your findings in terms of what CDs are available and their rates. Calculate how much you would stand to make if you invested $1,000
On December 31, 2007, Drew Company issued $170,000, five-year bonds for $155,000. The stated rate of interest was 6 percent and interest is paid annually on December 31. What would be the necessary journal entry?
Penny, Miesha, and Sabrina transfer property to Owl Corporation for 75% of its stock. Nancy, their attorney, receives 25% of the stock in Owl for legal services rendered in incorporating the business. What are the tax consequences of these transac..
The average cost of a one bedroom apartment in a town is $550 per month. What is the probability of randomly selecting a sample of 50 one bedroom apartments in this town and getting a sample mean of less then $530 if the population standard deviat..
What is the latest date on which Wanda can replace the involuntarily converted property to qualify for &1033?
Also explain how the cash budget can impact the timing of certain decisions such as when to invest in capital projects or seek additional financing.
What would be the appropriate level of involvement of an accountant in evaluating and selecting an AIS vendor and the AIS itself? What are some of the contributions an accountant might offer in this process?
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