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Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions.
February 17 Purchased $100,000 of U. S. Treasury 6% bonds, paying 102 plus accrued interest of $1,000. The security is to be held for short term profits.
April 10 Purchased 500 shares of Gauges Inc. common stock at $140 per share. This security will be held for an unspecified period of time.
August 8 Sold 100 shares of Gauges Inc. for $150 per share.
October 5 Sold half of the U. S. Treasury bonds for 103 plus accrued interest for $300.
Prepare the journal entries for the above transactions. Show calculations.
If the cost of an item of inventory is $75, the current replacement cost is $64, and the selling price is $95, the amount included in inventory according to the lower of cost or market concept is?
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They made major capital improvements through their 10-year ownership, which totaled $50,000. What is their recognized gain
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If Department K had 2,000 units, 45% completed, in process at the beginning of the period, 12,000 units were completed during the period, and 1,200 units were 40% completed at the end of the period, what was the number of equivalent units of produ..
In terms of the question above, do you think SOX has achieved or approached the desired effect within the accounting and financial world? Please explain why or why not.
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