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Question - Blue Spruce Limited reports the following for 2020: sales revenue, $923,000; cost of sales, $770,000; operating expenses, $102,300; and unrealized gain on FV-OCI investments, $58,700. The company had January 1, 2020 balances as follows: common shares, $400,000; accumulated other comprehensive income, $310,000; and retained earnings, $923,000. The company did not issue any shares during 2020. On December 15, 2020, the board of directors declared a $260,000 dividend payable on January 31, 2021. Determine the Net income/loss?
What is the depreciation for 2007, if Baldwin Corporation uses the asset 9,100 hours and uses the units-of-production method of depreciation?
Smelling Company declared a 2-for-1 stock split on its common stock in order to intentionally reduce the market value of its stock so that it would be an attractive investment for a larger set of investors.
Determine if you a bank manager of a small town state bank,You are the CEO of a large commercial bank such as Wells Fargo Bank.
On January 1, 2016, Moline Co. paid $80,000 for a 20% interest in Oak Industries. What is the amount of goodwill? What is Equity Income for 2016
The articles of partnership provide for a salary allowance of $6,000 per month to partner C. If C withdrew only $4,000 per month, would this affect the division of the partnership net income?
Patrice, Bella and Timmy were partners with capital balances on January 2, 2019 of P175,000; How much is the he capital balance of Patrice
Barr Company acquires 60, 10%, 5 year, $1,000 Community bonds on January 1, 2010 for $61,250. This includes a brokerage commission of $1,250. The journal entry to record this investment includes a debit to
For each of the following alternatives, calculate the minimum account receivable payment (to the closest dollar) that would make a lockbox system profitable.
Calculate the impairment loss and reversal of impairment loss (if any) for the machine for the years ended 31 December 2016 and 2017
Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a 3:2. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. If the noncash assets are sold for $80,000, the Macki's capital acc..
For tax purposes, how much income does John have if the benefit discriminates in favor of key employees, but Sean is not a key employee
If the cost of goods manufactured during the year amounted to $1,330,000 and annual sales were $1,996,000, how much is the amount of gross profit for the year?
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