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Kilmer Corporation began the year with retained earnings of $310,000. During the year, the company issued $420,000 of common stock, recorded expenses of $1,200,000, and paid dividends of $80,000. If Kilmer’s ending retained earnings was $330,000, what was the company’s revenue for the year?
Journal entries for issued shares at par-value
Purpose the journal entry to record the impairment loss, if any, and show where the loss would be reported in the income statement.
Purpose a segmented income statement, in total and for the two products. Use the contribution approach
How much gain or income will Bob recognize on his contribution of the land to the partnership? Illustrate what is the character of any gain or income recognized?
No dividends have been paid to preferred shareholders. Illustrate what amount of dividends will a shareholder owning 100 shares receive in 2010 if Doe pays $ 1,000,000 in dividends?
Increase the mortgage amount to include the $18,000, bringing the total amount financed to $187,100. Calculate the total interest paid over the life of the loan for each of these options.
Discuss the accounting this company uses to allocate the cost of that asset to the periods benefited from its use. 150-250 words.
Explain balance sheet presentation of the fair value adjustment for Perry’s short-term investment.
On January 1, 2009, the estimate of useful life was changed to a total of 12 years, and the estimate of residual value was changed to $20,000. Create the appropriate adjusting entry for depreciation in 2009 to reflect the revised estimate.
Another client gave her a check for $750 on December 31, 2011, but after the bank had closed. Both the $500 and $750 checks cleared the next year. Explain how much does Sarah have to include in her gross income for 2011?
Calculation of applied manufacturing overhead based on direct labor hour rate - Purpose journal entries to record these events. Use those journal entries.
Determine the annual pretax return to Slimware if the firm can earn 9% on any funds released from employing the zero-balance system? Assume the company has 52 weekly pay periods each year.
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