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Lawyer performed legal services for E. Corp. Due to a cash shortage, an agreement was reached whereby E. Corp. would pay S. Lawyer a legal fee of approximately $15,000 by issuing 8,000 shares of its common stock (par $1). The stock trades on a daily basis and the market price of the stock on the day the debt was settled is $1.80 per share. Given this information, the best journal entry for E. Corp. to record for this transaction is?
Cost of goods sold for 2010 was $3,600,000. If Butler Company had used FIFO during 2010, its cost of goods sold for 2010 would have been ??
John Brown is a PA, but not a partner, with three years of professional experience with lyle and lyle, public accountants, a one-office public accountanting firm. he owns 25 shares of stock in an audit client of the firm,but he does not take part ..
white and wong inc. had financial difficulty and is being liquidated by the federal bankruptcy court. the firm has a
The out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $300,000. What profit or loss would Security Brokers incur if the issue were sold to the public at an average price of:
in quickbooks if you set up a new company file using the express start method which journal entries would you normally
The basis for classifying assets as current or non-current is the period of time normally required by the accounting entity to convert cash invested in:
59. Ida owns 30% of the stock in Mockingbird, a calendar year S corporation. Her basis in the stock as of January 1, 2013, is $120,000. Mockingbird has an operating loss of $500,000 in 2013 and an operating profit of $600,000 in 2014. Ida ..
carver test systems manufactures automated test systems that perform quality inspections during and at the completion
the default risk premium for Niendorf's bonds is DRP = 1.20% versus zero for T-bonds, and the maturity risk premium for all bonds is found with the formula MRP = (t - 1) ´ 0.1%, where t = number of years to maturity. The liquidity premium (LP) on ..
sprint nextel is one of the largest digital wireless service providers in the united states. in a recent year it had
Second Church is going to operate a gift and book shop that will include only religious articles in its inventory. The shop will be staffed by employees who are not church members.
Calculate the predetermined overhead rate for the year using each of the following cost drivers:
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