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The accounts and balances that follow are from the general ledger of Dimaz Company. Compute the (1) working capital and (2) current ratio. Accounts Payable $ 6,640 Accounts Receivable 4,080 Cash 600 Current Portion of Long-Term Debt 4,000 Long-Term Investments 8,320 Marketable Securities 5,040 Merchandise Inventory 10,160 Notes Payable (90 days) 6,000 Notes Payable (2 years) 16,000 Notes Receivable (90 days) 10,400 Notes Receivable (2 years) 8,000 Prepaid Insurance 160 Property, Plant, and Equipment 48,000 Property Taxes Payable 500 I. Dimaz, Capital 22,640 Salaries Payable 340 Supplies 140 Unearned Revenue 300.
The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?
Admission/Withdrawal of Partners
Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remaining balance was $11,000, Ned filed for bankruptcy and notified Monty that he would be unable to pay the balance on the ..
Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting information remained in the office files: Direct labor cost incurred during the period amounted to 2.5 times the factory overh..
mccoo inc. bases its manufacturing overhead budget on budgeted direct labor-hours. the variable overhead rate is 1.50
Executive officers within an organization will often feel compelled and tempted to emphasize short-term results-net income for the current year-over long-term success and company survival.
The company has an incremental borrowing rate of 12%. It must close its books and prepare third-quarter financial statements on September 30, 2010. Prepare journal entries for the forward contract and firm commitment.
Explain the importance of understanding inventory valuation methods in determining the quality of the profit numbers.
Glen and Michael are equal partners in Trout Enterprises, a calendar year partnership. During the year, Trout Enterprises had gross income of $400,000 and operating expenses of $220,000.
On January 1, 2011, Tonge Industries had outstanding 450,000 common shares (par $1) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock (par $100), convertible into 40,000 common shares.
assume there is a well-financed one-year-old company in the biotech industry that is concentrating on developing
remo company and angelo inc. are separate companies that operate in the same industry. following are variable costing
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