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Question - Following are the transactions of Scanlon Corporation, for the month of January. The effect of these transactions is not included in the begininng balances shown. Borrowed $33,800 from a local bank. Lent $13,800 to an affiliate; accepted a note due in one year. Sold to investors 100 additional shares of stock with a par value of $0.10 per share and a market price of $6 per share; received cash. Purchased $34,000 of equipment, paying $14,500 cash and signing a note for the rest due in one year. Declared $5,800 in cash dividends to stockholders, to be paid in February.
Required - Prepare a balance sheet for Scanlon Corporation, as of January 31.
Prepare the general journal entries to record the adopted budget at the beginning of FY 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Give the journal entry that the company would make on December 31, Year 4, to account for this change, assuming that it recognized no gain or loss on this event.
Prepare the profit distribution schedule for the above schemes assuming profit of P500,000, Establishing the Profit Distribution Scheme
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A 1-year call option on the stock, with an exercise price of $22 is available. Based on the binominal model, what is the option's value?
Indigo Co. sells $390,000 of 12% bonds on June 1, 2017. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2021. The bonds yield 10%. On October 1, 2018, Indigo buys back $120,900 worth of bonds for $124,900 (includ..
Springfield Nuclear Energy Inc. bonds are currently trading at ?$712.06. What is the yield to maturity of the? bonds
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Idaho Falls maintains its books and records in a manner that facilitates the preparation of fund financial statements. Prepare all necessary journal entries to record the following events for the year ended December 31, 2014.
On January 1, 2016, Day Corporation purchased 30% of Night Corporation for $770,000 cash. On the date of the purchase, Night’s assets had a book value of $2,200,000 and liabilities with a book value of $400,000. Prepare the allocation of the purchase..
Companies that produce large numbers of standardized products within a particular batch would most likely use which type of costing?
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