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The following information was extracted from the 2014 financial statements of Max Company: Income from continuing operations before income tax $470,000 Selling and administrative expenses 320,000 Income from continuing operations 329,000 Gross profit 900,000 Income before extraordinary item 290,000 The amount reported for other expenses and losses is a. $141,000 b. $39,000. c. $110,000. d. $150,000.
Prepare the adjusting entries using good form for each of the following situations as of January 31 (measurement date) for the one month of January
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Gross proceeds from the offering amounted to $850,000,000. The discount on the Senior Discount Notes is being accreted under the effective interest method.
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The market value of the King stock was $30 per share on the date of declaration and $32 per share on the date of distribution. By how much is retained earnings reduced by the property dividend?
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Purchase orders, and sales invoices are not pre-numbered due to the higher cost of printing the forms.
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