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Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his shares of the company. Bill transferred property with a basis of $5,000 for $75,000 of stock. Steve contributes cash of $100,000 for his shares. Which of the three must recognize income in the year of the formation?
Explain the accounting and reporting for stockholder's equity. How are restrictions on retained earnings reported? What are the key components of stockholder's equity? Indicate how to present and analyze stockholder's equity.
There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
In an Advertiser's records, a newspaper ad submitted and publisdhed this week with the agreement to pay for it next week would:
If 30% of the month's revenue is collected in the same month, 40% is collected in the second month and 30% is collected in the third month, how much of September's revenue is collected in subsequent months? How much of August's revenue is collecte..
Which scheme does not inflate sales? A) Recognizing sales on disputed claims against customers. B) Recognizing sales without shipping the goods. C) Understanding allowances for sales discounts.
A company manufactures a single product. During year 2012, a total of 20,000 units of this product were produced and 15,000 units were sold. The sales price was $20.00 per unit.
During the year, we received $7,000 in advance of performing the services. These services will be performed next year in 2009. Can you show the computation of revenue for 2008 on cash basis?
The best investor of all time, Warren Buffet, talks about investing in "capital efficient" businesses. Coca Cola falls into this category since it generates great sums of cash with minimal investment in capital.
Which of the following is correct in regard to equity trading securities?
Hannah Company maintains two separate accounts payable computer systems. One is known to all the users, and is used to process payments to vendors.
A company's 2010 income statement reported total sales revenue of $1,200,000; accounts receivable increased by $25,000 and the unearned revenue account decreased $15,000 during 2010. How much cash was collected from customers during 2010?
If he sells the pubs abd then leases them back would you expect Lion Nathan to change how it accounts for the depreciation of he building?
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