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During its first week, Duffy & Stevenson Company had these transactions.
1. Issued 100,000 shares of $5 par value common stock for $800,000 cash.
2. Borrowed $200,000 from Castle Bank, signing a 5-year note bearing 8% interest.
3. Purchased two semi-trailer trucks for $170,000 cash.
4. Paid employees $12,000 for salaries and wages.
5. Collected $20,000 cash for services provided.
Classify each of these transactions by type of cash flow activity.
Find the future value of $10,000 invested now after five years if annual interest rate is 8 percent.
Ritter company issues $600,000 of 10%, 10-year bonds on januanry 1, 2008 at 102. Interest payable semiannually on july 1 and january 1. The company uses the straight-line method of amoritization.
When a parent uses the partial equity method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is false before making adjustments on the consolidated worksheet?
When a parent uses the equity method throughout the year to account for its investment in an acquired subsidiary, which of the following statements is false before making adjustments on the consolidated worksheet?
Common stock balance sheet disclosure
Prepare a statement of cash flows in good form using the indirect format.
Blue Company sold machinery for $45,000 on December 23, 2010. The machinery had been acquired on April 1, 2008, for $49,000 and its adjusted basis was $14,200. The § 1231 gain, § 1245 recapture gain, and § 1231 loss from this transaction are:
One year from the issue date (July 1, 2012), the corporation exercised its call privilege and retired the bonds for $395,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs.
Indicate whether the increase, decrease, or have no effect on retained earnings - Declared cash dividend.
It is the end of the accounting period, and your boss asks you to help determine the inventory balance to place in the company's balance sheet. Explain which physical quantities of inventory that you will include, and which you will exclude.
company a maintains an accounts recevialedepartment that currently employs 8 people. they areinterested in doing an
springfield express is a luxury passenger carrier in texas. all seats are first class and the following data are
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