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Each of the following would be reported as items of other comprehensive income except:
A. Foreign currency translation gains.
B. Unrealized gains on investments accounted for as securities available for sale.
C. Deferred gains from derivatives.
D. Gains from the sale of equipment.
Mondial Corporation's financial accounting records show it had gross revenue of $980,000, cost of goods sold of $420,00, operating expenses of $380,000 and $4,000 of dividends received from a 40% owned company.
Hugo was planting a tree when he unearthed 100,000 certificates of ITT bearer bonds, with a current value of $4 million.
Woods sold all of the Holmes stock for $17 per share on December 3, 2011, incurring $14,000 in brokerage commissions. Woods Company should report a realized gain on the sale of stock in 2011 of ??
Prepare a proposal for what consulting services SLL should offer and to whom, inlcuding current auditing clients, other clients, or both.
During the year, ABC LP generated a ($90,000) loss. How much of Sue's loss is disallowed due to her tax basis or at-risk amount?
In 2009, Austin Powers Corporation developed a new product that will be marketed in 2010. In connection with the development of this product, the following costs were incurred in 2009:
What industries do you think have the hardest time estimating warranty costs?
Merino Corporation issued a 4 percent stock dividend on 30,000 shares of its $10 par common stock. At the time of the dividend, the market value of the stock was $25 per share.
What are the three conditions behind contingent liabilities and give an example of each case.
Inline Incorporated manufactures skates and equipment for in-line skating. The company offers a one-year warranty on all products. During 2012, the company recorded net sales of $3,887.4 million. Historically, about 2% of all sales are returned under..
Teresa is a civil engineer who uses her automobile for business evenly throughout the year. Teresa drove her automobile a total of $22,650 miles evenly during 2011, of which 95% was business mileage.
Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern's fiscal year ends December 31, and the 2011 financial statements are issued on March 15, 2012.
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