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In Piatt County, the real property tax is the calendar year. The real property tax becomes a personal liability of the owner of real property on January 1 and is payable on July 1 in the real property tax year. On June 30 of this year (assume not a leap year), Harry sells his house to Judy for $110,000 and on July 1, Judy pays the entire real estate tax of $4,380 for the current year ending December 31. a.) How much of the property taxes may Harry deduct? b.) How much of the property taxes may Judy deduct?
Compute the cash collections from January sales in January, February, and March.
Prepare journal entries to record the retirement of the old issue and the sale of the new issue on June 30, 2011. Prepare the entry required on December 31, 2011 to record the payment of the first 6 months interest and the amortization of premium on..
Determine the amount of intra-entity profit at the end of 20X1.
the inventory at june 1 and costs charged to work in process -department 60 during june are as follows3600 units 70
Determine the annual net cost of these checking accounts: a. Monthly fee $5, check-processing fee of 25 cents, average of 19 checks written per month.
Conversion costs related to the beginning work-in-process inventory amounted to $231,000, and amounts incurred during the current month totaled $900,000. If conversion is incurred uniformly throughout manufacturing, Flagston's equivalent-unit cost..
In recent years directors and CEOs of companies have been placing more importance on holistic reporting of company activities rather than simply reporting what is required by the Accounting Standards, the Corporations Act and other legislation.
Discuss the nature of accounting misstatements and the implication of each to fair presentation of the financial statements.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity, and significant non cash investing and financing activ..
The following department data are available: Total materials costs $180,000 Equivalent units of materials 60,000 Total conversion costs $105,000 Equivalent units of conversion costs 30,000 What is the total manufacturing cost per unit?
Evaluate IBM's Earnings per Share (basic), and Identify the factors most responsible for the increase in IBM's earnings.
prepare a cash receipts journal based on the information given below and post it to the accounts receivable subsidiary
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