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The following are selected 2010 transactions of Franco Corporation.Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite.May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years and a legal life of 20 years.
Instructions: Prepare necessary adjusting entries at December 31 to record amortization required by the events above. (If there is no transaction, enter No entry as the account and 0 for the amount.)
1. for a manufacturing company which of the following is an example of a period cost rather than a product
what are the benefits and drawbacks of adopting greens definition of occupational crime as any act punishable by law
on january 1 2008 moore company purchased equipment for 16000. moore uses straight-line depreciation and estimates a
a corporate shareholder generally will prefer sale treatment for a nonliquidating stock redemption dividend treatment
Adjusting Entries are required at the end of the period to ensure that accrual accounting principles are applied. The rent is prepaid for three months at $1,200 per month.
please give correct answer and explain how you got that answer. i chose c and got 12 credit for it being partially
Frantic Fast Foods had earnings after taxes of 390000.00 in year 2009 with 300000.00 shares outstanding. On January 1, 2010 the firm issued 25000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings ..
wwd oil company sells 10000 bbl of oil for 70 per barrel. the lease provides for a 16 royalty interest and the working
during january 2012 wells inc. acquired 30 of the outstanding common stock of wilton co. for 1400000. this investment
Prepare a multiple-step income statement and prepare a single-step income statement.
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What are two primary responsibilities of the financial manager. From the Internet what are two additional ideas about the other activities that financial managers are involved in on a day-to-day basis.
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