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1.On February 18, 2013, Union Corporation purchased 10,000 shares of IBM common stock as a long term investment at $60 per share. On December 31, 2013, and December 31, 2014, the market value of IBM stock is $58 and $61 per share, respectively.Required:1. What is the appropriate reporting category for this investment? Why?2. Prepare the adjusting entry for December 31, 2013.3. Prepare the adjusting entry for December 31, 2014.
bubble corporation manufactures two products i and ii from a joint process. a single production costs 4000 and results
Making one unit of the companys product requires 1.5 direct labor hours. 1) Determine the total overhead to be applied per unit of product in 2010.
the accrual -basis net income was 107000. in computing net income the company recorded 12600 of depreciation expense
tinas fine juices is a bottler of orange juice. the company produces bottled orange juice from fruit concentrate
Calculate Powers capital in the new partnership and journalize the partnership's receipt of cash from Power.
Global, Inc., owns a delivery truck which initially cost $30,000. After depreciation of $15,000 had been deducted, the truck was traded-in on a new truck that cost $60,000. Global was required to pay the car dealer $20,000 in cash. What is Global'..
a company has prepared the operational budget and the cash budget is now preparing the budgeted balance sheet. to
selected account balances from the adjusted trial balance for olinda corporation as of its calendar year end december
Good Co. had a net loss of $75,000 from merchandising operations in 2007. Jane owns Good Co. and works 20 hours a week in the business.
dutson company manufactures running shoes and tennis shoes. the projected income statments for the two products are as
Describe the implications of the phrase normally expected to be liquidated with expendable avail-able financial resources as applied to accruing liabilities for compensated absences in governmental type funds?
Debt investments are recorded at the : a. face value of the bonds purchased. b. face value of the bonds purchased plus interest. c. price paid for the bonds plus interest. d. price paid for the bonds plus brokerage fees
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