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Cerner Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $225,000 for the lot plus $120,000 for the old building. The company pays $34,500 to tear down the old building and $51,000 to fill and level the lot. It also pays a total of $1,440,000 in construction costs - this amount consists of $1,354,500 for the new building and $85,500 for lighting and paving a parking area next to the building. Prepare a single journal entry to record these costs incurred by Cerner, all of which are paid in cash.
slick corporation is a small producer of synthetic motor oil. during may the company produced 5000 cases of lubricant.
Cara, Bob, and Stave want to begin a business on January 1, 2009. The individuals are considering three business forms-C Corporation, partnership, and S corporation.
Assume you have the power to make reforms to the way tax research and planning is currently conducted. Propose the reforms you would make. Justify your response.
Laws and Regulations of Accounting Write a paper (minimum of three pages, typed, double-spaced, size 12 font, 1 inch margins). Program outcome:Prepare and understand reporting procedures and requirements
equipment acquired on january 3 2007 at a cost of 504000 has an estimated useful life of 12 years has an estimated
boehm rest company has 30000 shares of its 1 par value common stock outstanding. record in journal form the following
esther pays 355 per month for 6 years for a car. she made a down payment of 2500. if the loan costs 7.1 per year
If Cash has debit postings of $52,000, credit postings of $39,000, and a normal ending balance of $22,000, what was its beginning balance?
soft light company produces speciality lamps and sell them to retail stores. during the lastest year the company sold
Your supervisor has asked you to research leases and lease structure issues on the Financial Accounting Standards Board (FASB) website, in particular the current practice and thought related to direct financing, sales type, and operating leases.
Activity-Based Costing
Cite two examples of circumstances in which a government may find it necessary to record deferred revenues in governmental type funds?
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