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Hutch Corporation finished their fiscal year ending March 31, 2010, with $88,000 of net income. They issued dividends of $22,000 at year end. At the end of the year on March 31, 2010, they had a net loss of ($46,000) and did not distribute any dividends. In the fiscal year ending march 31, 2012, their net income was $55,000. What is the projected ending retained earning balance of march 31, 2012, assuming that 2010 was their worst year of business?
Alex owns an office building which the state condemns on January 15, 2010. Alex receives the condemnation award on April 1, 2010. In order to qualify for nonrecognition of gain on this involuntary conversion,
On January 1, Year 1, Jayco purchased a machine for $6,000. It had an estimated salvage value of $1,200 and a life of six years. The straight-line method of depreciation was used. At, midyear in Year 4, Jayco sold the machine for $4,500 cash.
Explain the accounting alternatives that Bonanza Trading Stamps, Inc. should consider for the recognition of its revenues and related expenses.
Karr Company purchased bonds with a face amount of $400,000 between interest payment dates. Karr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000.
Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
Universal Company has made changes in its inventory handling policies that are expected to increase turnover from 7 to 8 times per year.
Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for
Draw Jim's budget line (throughout, please put coffee on the vertical axis)-Use a budget line-indifference curve map analysis to explain which pricing scheme Jim prefers.
Please indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
How may an online securities company (ETrade, Schwab, etc.) differentiate themselves in market? What are the opportunities for future growth? Please give a detailed response.
The following is a list of transactions entered into during the first month of operations of Gardener Corporation, a new landscape service. Prepare in journal form the entry to record each transaction.
Financial markets are the forums in which buyers and sellers of financial assets such as stocks and bonds, and commodities such as grains, oil and gold, meet. Write a paper of not more than 10 pages on business and financial risk, as follows:
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