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Jim's Gymnastics Training's operations for the month of October are summarized as follows:• Provided $7,000 of training to students. Billed customers on account.
•Received $9,900 cash from students-of which $3,600 is for training provided in October (as billed above), $1,100 is for training to be provided in November, and $5,200 is for training provided in September.
• Paid September's gym rental bill of $1,200. Received October's bill of $1,500 but did not pay.
Prepare appropriate journal entries using the accrual basis of accounting.
Determine the book value of the goodwill on December 31, 2008, prior to making the impairment adjustment. Illustrate the effects on the accounts and financial statements of the December 31, 2008, adjustment for the goodwill impairment.
Assume dividends are taxed as ordinary income
espresso express operates a number of espresso coffee standsin busy suburban malls. the fixed weekly expense of a
on january 2 2014 klein co. bought a trademark from royce inc. for 1600000. an independent research company estimated
using the appropriate interest table compute the present values of the periodic amounts due at the end of the
(a) Determine Deer Park's net income for 2008. (b) Prepare a balance sheet for Deer Park as of December 31, 2008.
owens electronics has nine operating plants in seven southwestern states. sales for last year were 100 million and the
The net amount required to retire a bond before maturity (assuming no call premium and constant interest rates) is the:
the tippa canoe company makes fiberglass canoes. the fiberglass resin is initially molded to the shape of a canoe then
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
aaa lock manufacturing co. makes and sells several models of locks. the cost records for the zforce lock show that
we normally think of the arts as very different from technologies in spite of the fact that art with perhaps a few
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