Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Selma operates a contractor's supply store. She maintains her books using the cash method. At the end of the year, her accountant computes her accrual basis income that is used on her tax return. For 2015, Selma had cash receipts of $1.4 million, which included $200,000 collected on accounts receivable from 2014 sales. It also included the proceeds of a $100,000 bank loan. At the end of 2015, she had $250,000 in accounts receivable from customers, all from 2015 sales.
a. Compute Selma's accrual basis gross receipts for 2015.
b. Selma paid cash for all of the purchases. The total amount paid for merchandise in 2014 was $1.3 million. At the end of 2014, she had merchandise on hand with a cost of $150,000. At the end of 2015, the cost of merchandise on hand was $300,000. Compute Selma's gross income from merchandise sales for 2015.
on january 1 2012 chang corp. had 502000 shares of common stock outstanding. during 2012 it had the following
win 2040000 in the state lottery. the 2040000 prize will be paid in equal installments of 170000 over 12 years. the
Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 endi..
calculating break-even and graphing. the north kingstown cancer infusion therapy division expects tremendous growth
Andy Roddick is the new owner of Ace Computer Services. At the end of August 2007, his first month of ownership, Roddick is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business ..
The Andersons retain you to compute their tax liability for 2007. They are expecting to pay less tax than usual for several reasons. First, both became 65 during the year.
1 what is the agi for evan?22.what is the agi for noah?3 does evan take the standard or itemized deduction? what is the
Calculate the mean, median, mode, variance, and standard deviation for the numeric data. Construct a histogram, pie, or Stem-Leaf Display chart encompassing the mean leadership scores for both male and female managers. Use an online interactive pro..
Find the concentrations of X and Y in a solution
volker inc. issued 2500000 of convertible 10-year bonds on july 1 2010. the bonds provide for 12 interest payable
Big Al's Pizza Managerial Accounting Part Seven: Using net present value (NPV) analysis compare the present value of the lease payments with the cost of buying the equipment to replace the leased equipment as explained in Part Seven. Assume a 10% ..
Analyze transactions (a)-(e) to determine their effects on the accounting equation. Use the format shown in the demonstration case on page 69. Record the transaction effects determined in requirement 1 using a journal entry format. Summarize the jour..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd