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Question - The city of Kamen maintains a collection of paintings of a former citizen in its city hall building. During the year, one painting was purchased by the city for $2,ooo at an auction using appropriated funds in the general fund. Also during the year, a donation of a painting valued at $3,ooo was made to the city.
Prepare the journal entry for the two transactions for the purposes of preparing the fund based financial statements.
Lexington Builders owns property in Kaneland County. Lexington's 2013 property taxes amounted to $50,000. Kaneland County will send out the 2014 property tax bills to property owners during April 2015. Taxes must be paid by June 1, 2015. Assume th..
Use the data to calculate the company's current ratio and liabilities-to-equity ratio. Cash and cash equivalents $6,794
Short Corporation purchased Hathaway, Inc. for $52,000,000. The fair value of all Hathaway's identifiable tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual..
With a restricted policy, current assets will be 15% of sales. Under a relaxed policy, current assets will be 25% of sales. What is the difference between the projected ROEs between the restricted and relaxed policies?
san rafeal company has two production departments assembly and finishing and two service department machine setup and
In what ways was it felt that the statements issued by the Financial Accounting Standards Board would carry greater weight than the opinions issued by the Accounting Principles Board?
abc company employs a periodic inventory system and sells its inventory to customers for 25 per unit. abc company had
Paul Swanson has an opportunity to acquire a franchise. Compute the simple rate of return promised by the outlet. Compute the payback period on the outlet.
on january 1 2010 gant corporation had 1500000 of common stock outstanding that was issued at par and retained earnings
The goal of this additional investment is to improve the quality of applicants. What would the total recruiting cost be for Chester next year
Prepare journal entries to record, Jan. 10 sold 102,000 shares of commone stock for $8 cash per share. Jan 15 Exchanged 10,000 shares of common stock for equipment with a market value of $80,000. Feb. 1 Exchanged 500 shares of common stock for $3,..
sather company had accounts receivable of 64100 and allowance for doubtful accounts of 4300. sather company prepares
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