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Assume that High Value Corp. sells goods on January 1,2008, with a price of $2000. The buyer gives High Value a promissory note due January 1, 2010. The maturity value of the note includes 8% interest. Include any adjusting and reversing entries
Under the economic unit concept, what amount should have been assigned to the non-controlling interest immediately after the combination? Show all of your work. Showing only the answer will result in zero points.
If you need $11,500 in eight years how much would you have to put in an account now that pays annual interest of 10% compounded semiannually to obtain your goal?
Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of what?
What are at least 5 considerations you will need to take into account when you make a make-decision versus a buy decision at some point in the future? Explain at least 5 reasons why these risk are important to consider.
A company issues 5% stock dividends, 15,000 shares, $2.00 par value, initially stock was $12, but current trading value is $20, what are the journal entries?
An error was discovered during 2007. Specifically, depreciation expense was understated in 2005 resulting in the need for a Prior Period Adjustment of $25,000 before taxes.
After completing her residency, an obstetrician plans to invest $10,000 per year at the end of each year in a low-risk retirement account. She expects to earn five percent for 35 years. What will her retirement account be worth at the end of these..
James Welling, a 37 year old engineer has an appointment to meet you in about an hour. As you are reviewing his accounts, you notice that he is a fairly active trader. He seems to do pretty well with returns that outpace the averages-Prepare some ..
What is the company's weighted average cost of capital if retained earnings are used to fund the common equity portion?
Network Communications has total assets of $1,400,000 and current assets of $600,000. It turns over its fixed assets 4 times a year. It has $300,000 of debt. Its return on sales is 5 percent. What is its return on stockholders' equity?
Seventy percent of Diamond Beauty Supply shop sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. Prepare a monthly schedule of cash rece..
What makes a CPA license valuable? a. Time, effort and education it takes to get the license. b. Continuing education after receiving the license. c. Monopoly on public accounting services.
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