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On November 4, 2008, Ezra purchased 2,000 shares of DDD stock for $12,000. On June 12, 2009, Ezra sold the 2,000 shares for $9,000. On June 30, 2009, he purchased 1,000 shares of DDD stock for $5,000. What is Ezra's realized gain or loss and his recognized gain or loss on the June 12, 2009 sale? What is his basis in the stock from the June 30 purchase?
Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for:
The entity's balance date is 30 June, and it uses the straight-line method of depreciation. On 1 July 2011, the value is use was estimated to be $45,000 and the net selling price was $48,750. Prepare the journal entries in relation to the equipmen..
Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.
What is the revenue recognition principle? What is the current environment regarding revenue recognition? Research a current company's financial statement that the SEC has present or past investigations on for revenue recognition practices of a co..
Sears collected $57000 from the issuance of bonds with a face value of $50000. A portion of the cash receivable, $2000 was accrued interest. give the journal entry made on sears book to account the issuance of the bonds.
Discussion Board requirement: From financial reporting and ethical perspectives, how would you reply to the CEO? Include a discussion of the reasoning you used to support your stand on the ethical issues.
What are the costs and benefits to Apple from disclosing this information? What issues does this change raise for the auditor? What additional tests would you want to conduct as Apple's auditor?
What is the difference in treatment when an incoming partner purchases an interest by agreeing to perform services for the partnership and the partnership (1) gives a 25% interest in the capital of the partnership,
What are the steps involved in the preparation of an advance plan for the distribution of cash in a partnership liquidation to determine which step is the most difficult to execute correctly. Discuss possible ways to address the difficulties you i..
The company has an unrecognized gain of $60,000. To what extent will the unrecognized gain reduce current-year pension expense?
The convergence process is likely to lead to the acceptance of the IFRS approach. Explain whether or not you agree with this decision.
The accountant in a factory that produces biscuits for fast-food restaurants wants to assign costs to boxes of biscuits. Which of the following costs can be traced directly to boxes of biscuits?
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