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Capriati Corporation commenced operations in early 2012. The corporation incurred $55,130 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its formation. Prepare journal entries 1) to record the $55,130 expenditure and 2) 2012 amortization, if any
Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?
Suppose a US corporation (tax rate 34%) with $2,500,000 of domestic income sets up a branch in Japan earning $800,000, where the tax rate is 50%. Also, assume I earned another $100,000 in interest revenue in a country with a 10% income tax rate.....
What is the incremental cost associated with producing an extra 50,000 jars of salsa. What is the incremental cost associated with the price reduction of $0.30 per jar?
When should Alpine West recognize revenue from the sale of its season passes? Prepare the appropriate journal entries that Alpine would record on November 6 and December 31.
Swanson Corporation issued $8 million of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2029. Swanson's fiscal year ends on Decemb..
at times we can generate a regression equation to explain outcomes. for example an employees salary can often be
Brown Company's contribution margin ratio is 24%. Total fixed costs are $84,000. What is Brown's break-even point in sales dollars?
Discuss main objectives of non- profit-making organisations
Select an accounting scandal from the listing provided in class.
Derivative accounting: What are the disclosure requirements for traditional and derivative financial instruments? Should companies disclose if such instruments are used for hedging or speculation? Why?
Review the educational and experience requirements to sit for the Uniform CPA Examination published by the Board of Accountancy for the State in which you intent to pursue licensure, in addition to licensure and continuing professional education r..
Fairfax Company had a balance in Deferred Tax Liability of $840 on December 31, 2014, resulting from depreciation timing differences. Make the income tax journal entry for the Fairfax Company for December 31, 2014.
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