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Olive Enterprises experienced the following events during 2012.
1. Acquired cash from the issue of common stock.2. Paid cash to reduce the principal on a bank note.3. Sold land for cash at an amount equal to its cost.4. Provided services to clients for cash.5. Paid utilities expenses with cash.6. Paid a cash dividend to the stockholders.
Explain how each of the events would affect the accounting equation by writing the letter I for increase, the letter D for decrease, and NA for does not affect under each of the components of the accounting equation.
Identify and describe the general formula for calculating the adjusted basis of property.
What is meant by "major fund reporting"? How does this differ from reporting by fund type? For what fund types is major fund reporting required?
hall company had sales in 2014 of 1560000 on 60000 units. variable costs totaled 720000 and fixed costs totaled 500000.
Calculate the marginal tax rate and the effective tax rate for each of the C corporations. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot.
At the end of the year, actual direct labor-hours for the year were 17,400 hours, manufacturing overhead for the year was overapplied by $13,850, and the actualmanufacturing overhead was $294,130. The predetermined overhead rate for the year must ..
In addition, Sterling discovered that it had erroneously recorded a check for $46 that should have been recorded for $64. What is Sterling's correct Cash balance at March 31?
The XYZ company sells approximately 900,000 gizmos annually. Each gizmo consists of 15 components. Management is currently evaluating which vendor to choose as the primary supplier of one of the 15 components. Four vendors have been identified.
Toth chose to upgrade to a premium model in January 2007 and sold the old plotter to dunn drafting for $2,500. Prepare the journal entry recording for this sale of old plotter.
Compute the gain/loss on the restructuring of the debt.
What are the three tools of a financial statement analysis and what are the functions of each.
shine corporation purchased 30 percent of the common stock of ash corporation on january 1 2007 at 28000 in excess of
Beginning inventory for September is expected to be $4,000 suits. What is the dollar amount of purchase of suits? Each suit has a cost of $75.
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