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Mr. Hines received a 6200 grant from a local university for the fall of 2010. Mr. Hines was a candidate for a degree, and was required to be a research assistant, for which services he received payment under the grant. the 6200 grant provided the following.
tuition 3600books and supplies 500pay for services as research assistant 2100
Mr. Hines spent the entire 6200 on tuition, books and supplies.
What amount must Mr. Hines include in his income for 2010
a. 2100
b. 2600
c. 3200
d. 3600
Explain why the value of the leased asset and the accompanying lease obligation are not reported on the balance sheet initially at $80,000.00
the U.S. is going global, which is easier with all of our current technology. Using the textbook, and at least 2 other relevant references, (sorry, no Wikipedia) where do you see the U.S. in the next 5 years? When do you estimate IFRS will become man..
Hawk Corporation has 300 shares of stock outstanding: Marina owns 60 shares, Kent owns 90 shares, and Tom owns 75 shares. Blackbird Partnership owns the remaining 75 shares of stock in Hawk Corporation.
Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $24 per unit. Variable costs are $10.80 per unit, and fixed costs total $174,000 per year.
Assuming no impairment in value prior to transfer, how would one record assets transferred by a parent company to another entity it has created on the newly created entity's books?
Your suggested scorecard, which will be open to feedback from your senior managers, should include certain objectives, key performance indicators, and specific goals as a starting point for conversation.
On July 31, 2010, Fenton Company had a cash balance per books of $6,140. The statement from Jackson State Bank on that date showed a balance of $7,695.80. A comparison of the bank statement with the cash account revealed the following facts.
Tidbit Inc. has a sales budget for next month of $800,000. Cost of goods sold is expected to be 25 percent of sales. All goods are purchased in the month used and paid for in the month following purchase.
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.
What are the differences between regular and irregular items on income statement? What are the requirements for items to qualify as irregular?
Which of the following statements is (are) false regarding first-stage and second-stage cost allocation methods?
An aging of a company's accounts receivable indicates that $3,000 is estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a:
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