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Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $20,776 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $433 per week, payable monthly. 2 Paid office rent for the month $1,039. 3 Purchased architectural supplies on account from Burlington Company $1,500. 10 Completed blueprints on a carport and billed client $2,193 for services. 11 Received $808 cash advance from J. Madison to design a new home. 20 Received $3,232 cash for services completed and delivered to M. Svetlana. 30 Paid secretary-receptionist for the month $1,732. 30 Paid $346 to Burlington Company for accounts payable due.
What is the incremental cost assocaited with producing an extra 50,000 jars of salsa? What is the incremental revenue associated with the price reduction of $.40 per jar? Should Santiago's lower the price ofits Salsa?
How will the declaration and distribution of a 10 percent stock dividend affect the issuing corporation's balance of retained earnings and total stockholders' equity, respectively?
How do you find the 'less withdrawals' for the statement of owners equity?
The company's budgeted fixed manufacturing overhead is $77,220 per month, which includes depreciation of $9,720. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead o..
Mary is an employee of Robert's CPA business who has earned a $50,000 bonus. GR Systems pays Mary $50,000 and also issues Mary Form 1099-Misc. How much gross income is reported by Robert? By Mary?
Management of Solman Corporation has asked your help as an intern in preparing some key reports for June. The beginning balance in the raw materials inventory account was $20,000. During the month, the company made raw materials purchases amountin..
Ethnics are an important aspect of corporate culture.
For one of the following situations, indicate whether the organization should recognize the described contributed services as revenue (offset by a corresponding expense). Briefly justify your response or identify key issues.
How are stock issuance costs and direct combination costs treated in a business combination which is accounted for as an acquisition when the subsidiary will retain its incorporation?
Assume that the market interest rate at the date of issuance is 10 percent (5 percent per semiannual period). What is the issue price of the bond?
What journal entry, if any, would be made to revaluate the asset and what effect would they have on the balance sheet and income statement? If applicable, please show journal entries for both the net and gross methods of revaluation for !2/31/05 a..
Sheppard industries evaluating a proposal expand current distribution facilities. Management projected produce cash flows years (in millions)
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