type of Assets, Accounting Basics

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Birch issued 200 shares of $12 par common stock, Birch issued 200 shares of...

Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry

State and local income taxes, State and local income taxes Some states ...

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

Explain about revenue recognition principle, Q. Explain about revenue recog...

Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r

Present Value, A $9,000 loan to be repaid in full at the end of five years....

A $9,000 loan to be repaid in full at the end of five years. Interest on the loan is payable quarterly. The interest rate is 8% compounded quarterly. What is the present value

Recording transactions in a 2 columns journal, began his business with equi...

began his business with equipment valued at $40,000 and place $400,000 in the business checking account. what are the accounts affected?

Trade receivables owe, Read it once and answer, if The following items appe...

Read it once and answer, if The following items appear on a balance sheet.   $   Inventory balance at bank cash in hand trade

What is personal account, Personal Account is an account for use by an indi...

Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi

Please help, A client comes to you for investment advice on his $500,000 wi...

A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and reque

Prepare a schedule of depreciation expense for an equipment, 1. Mama's Frie...

1. Mama's Fried Chicken bought equipment on January 2, 2010, for $15,000.  The equipment was expected to remain in service 4 years and to perform 3,000 fry jobs.  At the end of the

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