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Town of Carver has a $245,000 Net Assets Balance at the beginning of the year. Information listed below relates to the year end accounting for 9/30/14 Receipts Property Taxes 430,000 Franchise Taxes 110,000 Charges for Public Safety 8,000 Charges for Sanitation 6,000 Payments Salaries General Government 62,000 Public Safety 44,000 Sanitation 37,000 Rent General Government 16,000 Public Safety 14,000 Sanitation 10,000 Maintenance General Government 5,000 Public Safety 3,000 Sanitation 1,000 Insurance General Government 4,000 Public Safety 1,000 Sanitation 2,000 Final Pmt on Debt 10,000 Interest on Debt 12,000 Objective: Prepare a statement of activities with the correct heading.
There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011?
As a newly hired Staff I, you are responsible for analyzing the work papers for one of the clients of your organization. Your client is not clear about why you are asking for information on the following topics
Why do you think Gillette initially showed its income for 1998 to be $1.428 billion and and what is the valuation allowance?
On March 5th, Blowout Sales makes $22,500.00 in sales on the company's own credit cards. The cost of merchandise sold are $16,825.00. Journalize the sales and recognition of the cost of merchandise sold.
find the annual installment necessary to pay off a four year 8 32 million note. prepare entries to record the first and
a) Prepare the companies sales budget and schedule of expected cash collections. b) Prepare the companies production budget fro the upcoming fiscal year
While rummaging through your grandfather's attic, you came across a rare civil war document: An official letter by Lincoln to one of his generals. You engaged Sotheby's Auction House and sold the document for $100,000. What is your tax liability?
What lump-sum will Henry have to invest now at 12% per year in order to have $2,000 at the end of each of the next two years?
Talbot Industries is considering launching a new product. The new manufacturing equipment will cost $17M, and production and sales will require an initial $5M investment in NOWC. The company's tax rate is 40%.
Prepare an adjusted trial balance , prepare closing entries and post.
Computation was a disallowed penalty of $25,000, life insurance proceeds of $100,000, and an income tax refund from 2009 of $50,000. Au Sable is an accrual basis taxpayer. The corporation's current earnings and profits for 2010 would be:
LO.2 Joe is a graduate student who works as a resident adviser (RA) in the college dormitory. As compensation for serving as an RA, he is not charged the $2,200 other students pay for their dormitory rooms for the fall 2012 semester
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