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Loreal-American Corporation purchased several marketable securities during 2013. At December 31, 2013, the company had the investiments in commom stock listed below. None was held at the last reporting date, December 31, 2012, and all are considered securities available - for- sale . Cost fair Value Unrealized Holding Gain Short term: Blair Inc. $480.000 $405.000 $ ANC Corporation 450.000 480.000 30.000 Totals $ 930.000 $885.000 $Long Term Drake Corporation $480.000 $ 560.000 $ 80.000 Aaron Industries 720.000 660.000 Totals $ 1.200.000 $ 1.220.000 $ 20.000 Required: 1- Prepare the apropriate adjusting entry at December 31, 2013. 2- What amounts would be reported in the income statement at December 31, 2013, as a result of the adjusting entry ? Thanks.
Prepare a vertical analysis of the 2009 income statement data for Douglas Company and Maulder Company in columnar form. Comment on the relative profitability of the companies by computing the returnon assets and the return on common stockholders' eq..
Therefore, the S corporation sells the assets, resulting in a $90,000 capital gain, and liquidates. Assuming that Phil is subject to a marginal tax rate of 30%, what taxes are due?
Calculate the amount of dividends declared during 20x8 on the nonconvertible preferred stock.
at the end of the year a company offered to buy 4420 regular units from x company for a special price of 12.77 each.
when examining payroll transactions an auditor is primarily concerned with the possibility ofa posting of gross
as of may 31 2013 the bank statement showed an ending balance of 26100. the unadjusted cash account balance was 27350.
Determine the total amount of product cost (cost of goods manufactured) and period cost incurred during August 2013.Total amount of product cost $
A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $3,000,000. Prepa..
No additional fixed manufacturing overhead will be incurred because of this order. The only additional selling expense on this order will be a $0.50 per unit shipping cost. There will be no additional administrative expenses because of this order...
Lisa has a $25,000 basis in her partnership interest before receiving a current distribution of $4,000 cash and land with a $30,000 FMV and $14,000 basis to the partnership.
Which of the following is an appropriate reconciling item to the balance per bank in a bank reconciliation?
Bradley is married, files a joint tax return, claims both children as dependents, and has a combined AGI with his wife of $114,000 for 2010. Determine Bradley's available education tax credit for 2010.
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