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Question - Time Traveler Magazine completed the following transactions during 2016:
Oct 31: Sold one-year subscriptions, collecting cash of $1,750, plus HST of 13%.
Dec 31: Remitted (paid) HST to Canada Revenue Agency (CRA).
Dec 31: Made the necessary adjustment at year-end.
Required - Journalize these transactions and then report any liability on the company's balance sheet on December 31st.
What the write-off of Kate account is journalized as? On February 28, MAZ Co. had Net sales of $3,000,000. Credit sales for February amounted 30% of Net sales.
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What are the tax consequences to Checker and to Bailey (an individual) if Bailey surrenders all her stock in a redemption qualifying for sale treatment?
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Land yard company is considering an investment that will generate 600,000 in cash inflows per year for 7 years and has 240,000 of cash outflows for the same period ( before income taxes). The cost of the asset is 700,000 and it will be depreciating u..
If the U.S. is not selected, she believes that Sunnyside's share price would fall significantly. Determine the profit per share on the straddle strategy
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