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Point 1: Prat Corp. started the 2018 accounting period with $30,000 of assets (all cash), $12,000 of liabilities, and $15,000 of common stock. During the year, the Retained Earnings account increased by $16,050. The bookkeeper reported that Prat paid cash expenses of $31,000 and paid a $3,000 cash dividend to the stockholders, but she could not find a record of the amount of cash that Prat received for performing services. Prat also paid $4,500 cash to reduce the liability owed to the bank, and the business acquired $6,600 of additional cash from the issue of common stock.
Question 1: Prepare an income statement for the 2018 accounting period.
Question 2: Prepare a statement of changes in stockholders' equity for the 2018 accounting period.
Question 3: Prepare a period-end balance sheet for the 2018 accounting period. Prepare a statement of cash flows for the 2018 accounting period.
Show the Journal entries for the purchase and the sale of shares.
Oilily has a market value debt-to-value ratio of 40 percent. - Oilily's pretax borrowing cost on new long-term debt in France is 7 percent.- What is Oilily's WACC in the French market?
Write up a two-column cash book for a bedroom furniture shop from the following details, and balance it off as at the end of the month:
HA 3011 Advanced Financial Accounting Assignment - You are required to explain the decision of the government that no specific regulation
The JM Partnership was formed to acquire land and subdivide it as residential housing lots. On March 1, 2011, Jessica contributed land valued at $600,000 to the partnership in exchange for a 50% interest. What is the amount of gain or loss recognized..
CCES Corporation acquires a controlling interest in Schmaling, Inc. CCES may utilize three methods to internally account for this investment. Class, what are these methods? Could you discuss their advantages and disadvantages?
When a company uses the perpetual inventory method, which of the following would be the entry to adjust inventory to lower- of- cost- of- market? Debit inventory and credit purchases
The sales revenue from this job is $3,400. For purposes of this action analysis report, direct materials and direct labor should be classified as a Green cost; painting overhead as a Red cost; and office expense as a Yellow cost.
Gabby executed two home equity loans (both secured by the home). The first was for $80,000 at an interest rate of 7%. The second home equity loan from a different bank later on the day was for $40,000 at an interest rate of 9%
However, Core is operating at capacity and will incur an additional $55,000 in fixed manufacturing overhead if the order is accepted. What is the incremental revenue associated with accepting the special order?
computation of earnings per share.major corporation has 100000 shares of 10 par value common stock outstanding and no
Prepare a common-size income statement and balance sheet for O'Hare Products. The first column of each statement should present O'Hare Products' common-size
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