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Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment on the $625,000 capital lease in question 1. If the acutal residual value and the guaranteed residual value are the same, record the return of the guaranteed residual value to the lessor by the lessee at the end of the lease term.
Calculate the molar mass of X. 2.Identify the element symbol for X F2+2XBr -----> Br2+2XF
Sunshine Service Center received a 120-day, 6% note for $40,000,dated April 12 from a customer on account. Assume a 360 day year. Journalize the entry to record the receipt of the payment of the note at maturity.
Identify one of the gross income inclusions. Why or why not? You can approach this question from an economic, social, revenue, or political perspective.
Define each of the following mental shortcuts, and explain why each may be inaccurate: (1) the availability heuristic, (2) the representativeness heuristic, (3) the anchoring and adjustment heuristic.
Wyoming Sports Equipment issued a $3 cumulative preferred stock issue. In 2007, the firm's board of directors voted to omit dividends for both the company's common stock and its preferred stock issues. Also, the corporation's board of directors vo..
At the end of the current accounting period, account balances were as follows: Cash $150,000, Accounts Receivable $50,000; Common Stock $10,000; Retained Earnings $60,000. Liabilities for the period were what?
DIGIMAX Multimedia is a multimedia content development company would like to release various educational CD/DVD in the market. In this regards, the company wants to approach professional interactive media developers
Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to the accounting for stockholders' equity.
what is the enthapy change needed to heat 1 kg of water at 0.4 MPa and 4°C to steam at 150°C and 0.4 MPa? b/ Does a state change from saturated vapor at 230°C to the state 100°C and 0.05 MPa represent an enthalpy increase or decrease?
The Enron debacle created what one public official reported was a "crisis of confidence" on the part of the public in the accounting profession. List out parties who you believe are most responsible for that crisis. Briefly justify each of your ch..
During 2014, Shipley distributed a dividend in the amount of $120,000 and at year-end reported a $320,000 net income. Any difference between implied and book value relates to subsidiary goodwill. Pioneer Company uses the equity method to record it..
The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. What will sales be for the Sporting Goods Division at the break-even point?
A CPA is interested in testing the fairness of the ending inventory balance at an audit client. He has relatively little experience using statistical sampling methods and, does not like to turn anything over to random chance.
Turner corporation acquired two inventory items at a lump-sum cost 0f $50,000. the acquisition included 3,000 units of product jt, and 7000 units of product b2. jt normally sells for $15 per unit, and b2 for $5 per unit. if tuner sells 1,000 units..
Find the appropriate SEC filing to identify the document where the IC report was filed with the SEC. A 10K-A is an an amended 10-k filing and a 20-F is a filing for foreign companies that contains the financial statement information.
Rey uses the method prescribed in Part 1b, what adjusting journal entry must be made to recognize bad debts expense on June 30, 2012? (Round your intermediate calculation to the nearest dollar amount. Omit the "tiny_mce_markerquot; sign in your re..
The Connecting company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transaction occurred: Prepare the general journal entries to record these transactions.
Why are measures of "service efforts and accomplishments" of more concern in government and not-for-profits than in businesses?
Laurie has a brokerage account at Dean Schwab, Inc. She makes investments on margin through this account. During the current year, she incurs $10,000 in margin interest in the account. Income generated through the brokerage account was.
For each of the following, journalize the necessary adjusting entry:
Sanchez Company has 30,000 shares of 1% preferred stock of $100 par and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Determine the dividends per share for preferred and common stock for each year.
Students will prepare a two to three (2-3) page response to the following: • Select either the balance sheet or income statement and explain how the use of it may be applied to your everyday life.
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