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Gabel CO has bonds payable outstanding in the amount of $400,000 and the Premium on Bonds Payable account has a balance of $6,000. Each $1,000 bond is convertible into 20 shares of preferred stock of par value of $50 per share. All bonds are converted into preferred stock.Assuming that the book value method was used, what entry would be made?
At December 31, 2012, Vermont Industries reported three temporary differences between accounting and taxable income:
A company used the percentage-of-completion method of accounting for a four-year contract. Which of the following items would be used to calculate the income recognized in the second year?
fireout inc. manufactures steel cylinders and nozzles for two models of fire extinguishers 1 a home fire extinguisher
Why the small business need recording system in their business. What are the advantages of recording system in small business
The change will result in a $1,800,000 increase in the start inventory at January 1, 2013. Consider a 40% income tax rate. Find the cumulative effect of this accounting change on beginning retained earnings
on january 1st of the current year lenox company decides to sale with recourse 4000000 of their receivables. the
Prepare the adjusting entry that records bad debts expense. Prepare the journal entry that records a write-off of a $700 uncollectible account receivable.
The cahs equivalent price of the machine was $9,500. Smith Corp incurred and paid installation costs of $300. Prepare the journal entries to record tje acquisition of the machine
elise age 20 is a full time college student with earned income from wages of 4400 and interest income of 500. elises
when a company receives notice from the bank that a check is nsf explain the process required by the accountant of the
moore corportation follows a policy of a 10 depreciation charge per year on all machinery and a 5 depreciation charge
During August, the cost of goods manufactured was $73,000. The beginning finished goods inventory was $15,000 and the ending finished goods inventory was $21,000. What was the cost of goods sold for the month?
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