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To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Analyze the accounting equation effects and record the journal entry for the stock issuance. Would your answer be different if the par value were $2 per share? If so, analyze the accounting equation effects and record the journal for the stock issuance with a par value of $2.
complete the following 5 exercises below in either Excel or a word document (but must be single document).
Didde's effective income tax rate is 34% for 2011. What amount should Didde report in its 2011 income statement as the current provision for income taxes?
The education expense was for a 2 week nighttime course in business management. Smith believes the expenditure should qualify as an ordinary and necessary business expense. What net income should Smith report from his business? Smith is on the cas..
It can be processed further to create XY2, at an additional processing cost of $50,000, and sold for $130,000. Discuss what products Adama Corporation should make.
Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.
a project will require an initial investment of 250000 and will return 50000 each year for seven years. if taxes are
feng company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of
What are some examples of basic entries to record transactions used in your organization? In your response, you are not required to journalize these entries.
Provide the fund level entries in general journal form required to conform to generally accepted accounting principles. If no entry is needed, so indicate.
Management of Berndt Corporation has asked your help as an intern in preparing some key reports for August. The beginning balance in the raw materials inventory account was $33,000.
Why is it possible that a raw material such as glue might be considered as an indirect material for one furniture manufacturer and as a direct material for another furniture manufacture?
What are the tax consequences of the preferred stock dividend to Fred?
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