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The transactions of Spade Company: a. Kacy Spade, owner, invested $13,750 cash in the company. b. The company purchased office supplies for $399 cash. c. The company purchased $7,604 of office equipment on credit. d. The company received $1,623 cash as fees for services provided to a customer. e. The company paid $7,604 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,915 as fees for services provided. g. The company paid $510 cash for the monthly rent. h. The company collected $1,224 cash as partial payment for the account receivable created in transaction f. i. Kacy Spade, withdrew $1,100 cash from the company for personal use. Prepare the Trial Balance. (The items in the Trial Balance should be grouped as follows: Assets, Liabilities, Equity, Revenues, and Expenses.)
Net income = 400 , net opening profit after taxes (NOPAT) = 600 , total asset = 2000 and total net operating capital =1800 . the information for the current year is : net income = 900 , net operating profit after taxes (NOPAT)= 800, total assets =..
Tom is a 40% partner in the KKM Partnership. During the current year, KKM reported gross receipts of 160,000 and a charitable contribution of 10,0000.
Mary, a U.S. citizen owned 25% of the stock of Floran Corporation, an electing S corporation. At the time of her death, the Floran stock may go to all the following without affecting the S election except
Compute the company's basic EPS for 2009. Compute the company's diluted EPS for 2009. Compute the company's book value per share at December 31, 2009. Compute the company's book value per share at December 31, 2009 assuming conversion of the preferr..
Jones was engaged to examine the financial statements of Gamma Corporation for the year ended June 30. Having completed an examination of the investment securities, which of the following is the best method of verifying the accuracy of recorded di..
Using the activity base info in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, COmmercial, and Government contract divisions from payroll and purchasing services.
Wade's outstanding stock consists of 50,000 shares of cumulative 9.50% preferred stock with a $10 par value and also 125,000 shares of common stock with a $1 par value.
The Adler Company manufactures a product with a unit variable cost of $50 and a unit sales price of $88. Fixed manufacturing costs were $240,000 when 10,000 units were produced and sold.
It is illegal for a government to spend money for any purpose unless a valid appropriation for that purpose exists. Does this legal rule assure good financial management for each government? Why or why not?
Explain why the quantity purchased is used in computing the direct materials price variance, but the actual quantity consumed is used in computing the direct materials quantity variance.
Med Inc. had one class of stock outstanding. The one class of stock was owned 50 percent by Lori and 25 percent by each of Lori's parents. In the current taxable year, Med Inc. redeemed 25 percent of Lori's 50 percent, and in exchange for the stoc..
What is the remaining obligation on January 1, 2010 after the first payment has been made?
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