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Sanderson & Associates received a $24,000 cash advance as a retainer to provide legal services to a client. The contract called for Sanderson to render services during a one year period beginning October 1, 2010. Based on this information alone, determine the cash flow from operating activities Sanderson would report on the 2010 and 2011 statements of cash flows. Also determine the amount of revenue Sanderson would report on the 2010 and 2011 income statements.
White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year.
Whiteside Corporation issues $510,000 of 8% bonds, due in 11 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 12%.
Page Enterprises has bonds on the market making annual payments, with eight years to maturity, and selling for $988. At this price, the bonds yield 7.90 percent.
One quarter of the principal plus interest is payable on June 30 of each year beginning June 30, 2009. Property owners are assessed to provide the funds to pay the principal and interest on the debt.
What are some advantages and disadvantages of standard costs? How do managers determine what the standard cost should be? Describe the effect of inaccurate standard costs on financial reporting.
Which form is used to report FICA taxes for the employer and employee, and also federal income taxes for the employee?
zabinski co. paid 150000 for a purchase that included land building and office furniture. an appraiser provided the
Dee Corporation's profits on the land will be ordinary income. What are the tax consequences of the asset transfer and land sales if Gene contributes the land to Dee Corporation in exchange for all of its stock? What alternative methods can be use..
more co. is a merchandising business. the account balances for more co. as of november 30 2008 unless otherwise
Olmsted Company has the following items: common stock, $720,000; treasury stock, $85,000; deferred taxes, $100,000 and retained earnings, $363,000. What total amount should Olmsted Company report as stockholders' equity?
Discuss any benefits you can think of for a company to (a) cross-list its equity shares on more than one national exchange, and (b) to source new equity capital from foreign investors as well as domestic investors.
micro chip corporation mcc has a special po box for customer payment. jane is responsible for going to the post office
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