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A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info
what do you mean by 90% of the entire issue to be received before the allotment of shares?
Recording and reporting stock transactions and cash dividends across two accounting cycles Davis Corporation was authorized to issue 100,000 shares of $10 par common stock and 5
Q. Example of Adjustments for accrued items? For instance assume Micro Train Company has some money in a savings account. On 2010 December 31 the cash on deposit has earned one
Workers compensation insurance Workers compensation insurance provides protection for employees who suffer a job-related illness or injury. Entire cost is generally paid by t
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
When buying an owner operated business from a franchised organization is the previous store manager''s salary discretionary?? can they count that as net income to the new owner op
Financial statements Summaries of financial activities are known as financial statements that are prepared on a regular basis at the end of an accounting period. Accounting per
They are likely to tests for tact, diplomacy, and with descriptive skills.
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
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