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On June 30, Rioux Management Company purchased land for $400,000 and a building for $600,000, paying $500,000 cash and issuing a 8% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $25,000 on the principal plus the interest accrued from the date of the preceding payment.
Explain and assess the purpose of accounting concepts - Discuss cases where the use of these concepts is confusing. Suggest what to do in these cases.
Mathelsea Corporation has 12,000 shares of 77?%,$15 par cumulative preferred stock and 48,000 shares of common stock outstanding. Mathelsea declared no dividends in 2015 and had no dividends in arrears prior to 2015. In 2016?,Mathelsea declares a tot..
At December 31, 2014 Pine Company had 200,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2014 or 2015. On February 10, 2..
Currently, the unit selling price of a product is $390, the unit variable cost is $320, and the total fixed costs are $1,008,000. A proposal is being evaluated to increase the unit selling price to $440. Compute the current break-even sales
Calculation of Material price and quantity variances - Evaluate diekow production's direct materials price and quantity variances for the year
What income and deductions will Monte and Allie report from Raider's current year activities? Evaluate Monte's stock basis on December 31?
In each of the situations, discuss the appropriateness of the journal entries in terms of generally accepted accounting principles. The president of Fresh Horses, Inc.
How would a utilitarian and a Kantian reason about this dilemma? What is most important: trustworthiness or utility? Why?
Internal controls. Of the presentation of internal controls, internal controls for e-commerce and bank account controls, identify one and explain how it would be implemented and how it would then protect the company's assets.
Describe the marketing processes that are necessary before an organisation can properly target the most lucrative part of a market.
Describe general characteristics in an internal control structure that would increase an auditor’s assessment of control risk. Is there a quick list of some of these somewhere?
Upon starting a new job in a company that has 70 employees, you notice that the company has been using manual accounting records and has retained every record since the business started 15 years ago. Your boss has asked you to recommend an accounting..
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