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Question - Prat Corp. started the 2018 accounting period with $31,000 of assets (all cash), $12,500 of liabilities, and $6,000 of common stock. During the year, the Retained Earnings account increased by $8,550. The bookkeeper reported that Prat paid cash expenses of $26,500 and paid a $2,100 cash dividend to the stockholders, but she could not find a record of the amount of cash that Prat received for performing services. Prat also paid $4,000 cash to reduce the liability owed to the bank, and the business acquired $6,900 of additional cash from the issue of common stock.
Determine the percentage of total assets that were provided by creditors, investors, and earnings.
a company issued 14 5-year bonds with a par value of 5000000 on january 1 2003. interest is to be paid seminannually on
Health policy reinforces decision-making and planning processes that aim explicitly at societal health improvement. Policy, if implemented meticulously.
Compare the tax consequences to the shareholder and the distribution corporation of the following three kinds of corporate distribution: ordinary dividends
In this assignment, you will research resources available on the Internet for monitoring natural phenomena including earthquakes, volcanoes, tsunamis, global climate, and weather.
What is the difference in KCSB's monthly costs between accepting the proposal and rejecting the proposal
If there is a greater than 50 percent chance that the subsidiary will be able to utilize the NOL carryforward, how much goodwill should Ivy recognize
Income tax expense has not yet been recorded. The income tax rate is 25%. Determine the income (loss) before income taxes
What would be the entries that Alpha would make in year 1 and 2 for this patent, if it continues to own it? Give two entries, one for each year
Prepare a schedule showing the division of net income between the partners
Jeb Corporation Limited (JEB), a Canadian incorporated company, operates a retail chain of computer supplies stores in Canada and abroad.
On December 1, 2007 Gates Company borrowed $45, 00 cash from FirstBank on a 90-day, 9% note payable. Prepare Gate's general journal entry to record the insurance of the note payable.
Haddas Ltd. makes Healthy Life, a nutritional aid. For a 50-pound batch and labor costs. Calculate the material quantity, mix, and yield variances.
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