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The balance sheet reports land at $100,000. Included in this amount is a piece of property purchased for a future warehouse site at a cost of $30,000 and a speculative land investment at a cost of $50,000.Current liabilities include $50,000 for long term debt that comes due in three months. The company has received a suitable firm commitment to refinance the debt for five years and intends to do so.Investments in marketable securities include $20,000 in short-term high-grade commercial paper which the company states is cash.What is the appropriate classification of the above items and how should they be disclosed in a financial statement?
the following is a partial trial balance for the green star corporation as of december 31 2013 nbspnbspaccount
grand haven is a senior living community that offers a full range of services including independent living assisted
black productions is thinking of discontinuing model f because it is reporting an operating loss. all fixed costs are
leetch ltd. borrows 400000 cash from a bank by signing a five-year installment note bearing 8 interest. the note
Prepare the bank reconciliation statement from the following information. Bank overdraft as per Bank Statement Rs. 4500.
From the auditors point of view which of the following is a preferable provision for imposition of civil liability for financial damages?
For the month of Dec, the company planned for activity of 12 snow days, but the actual level of activity was 14 snow days. The actual vehicle operating cost for the month was 6330. The vehicle operating cost in the planning budget for December wou..
a company is considering investing in an exercise machine that costs 5000 and would increase revenues by 1500 a year
Prepare separate entries for each transaction on the books of Meredith Company.
on july 1 gyminny delivery services a acquired a new truck with a list price of 191000. gyminny received a trade in
A corporation has 1,000 shares of 10 percent, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $40,000, the common stockholders will re..
Why is it difficult to develop accounting reporting categories that are uniform for governments within the same type of entity (e.g. cities) and even more difficult to develop them for governments within different types of entities
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