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Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 2007 is $7,500.
What is the FASB Codification System and what is its purpose? What are the nine content areas located in the FASB Codification System? What types of items are located under each content area?
Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will:
In 2001, Donna sells 100 of these shares to Walter (a family friend) for $100,000. In 2007, Egret Corporation files for bankruptcy, and its stock becomes worthless.
Calculate the gross wages of each worker for Week 4. Show clearly the basic pay, overtime pay and bonus pay; Using the answer in (a), analyze the total gross wages of the workers into Direct Wages and Indirect Wages;
a) prepare the journal entries for Myers Co. for 12/31/2010 b) Prepared the required journal entries for for Myers for 2011.
Compare and contrast the accounting reporting criteria-including regulatory environment, issues with foreign currency, differences in GAAP, and any others-of a U.S. company with a foreign company.
Progressive income taxes (the more you earn, the more you pay) are designed in part to reallocate earnings. Does the approach seem fair? Explain your answer.
Speedy Parcel Service operates a fleet of delivery trucks in a large metropolitan area. A careful study by the company's cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents pe..
What's the relationship between the acquisition and payment cycle and the inventory and warehousing cycle in the audit of a manufacturing company?
After selling the stocks from the portfolio, what would be the total beta of the remaining stocks in your portfolio? What would be the beta of your portfolio if you purchase the new stocks and put it in your portfolio?
Which of the following would be considered "constuctively received?"
John Haven purchased a bond for $9,500. The bond pays $300 interest every six months. If John decides to sell the bond after 18 months for $10,000 what would be his:
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