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Question - On January 2, Excelsius Corp purchased 10,000 Etherovo Corp common shares at $11 per share. On August 6, Etherovo Corp declared and paid dividends of $2.10 per share. December 31, it reported a profit of $350,000. Etherovo Corp has 32,000 common shares outstanding, so Excelcius has significant influence over Etherovo. Prepare the three journal entries on the books of Excelsius Corp to account for these transactions.
Explain how the double-declining-balance method is computed. Provide an example of how this method could be used on the new delivery truck purchased
Tender Foot Inc. is involved in litigation regarding a faulty product sold in a prior year. What is the required journal entry as a result of this litigation
Create projected financial statements to analyze effects of alternate operating assumptions on the firm's financial condition.
In 2016, jack have annual income $18000, and he also have 3 houses to rent. What is jack's AGI (adjusted gross income) in 2016
Prepare both conventional? (absorption costing) and contribution margin? (variable costing) income statements for Goggles Only for the year
Sanders Construction Co. specializes in building replicas of historic houses. Calculate the depreciation for the first year using the straight-line method
Address the current roadmap towards the convergence of one agreed upon global accounting standard. Identify specific reporting differences between the standards. Identify which resource best meets the goals of reporting companies in a given cou..
What is the present value for the scenario? $19,000 received at the beginning of each semiannual period for seven years 12?% ?interest
Preapre the necessary December 31, 2016, adjusting entries: On April 1, 2016, the company paid 6,960 for a two year insurance policy and debited entire amount.
1. use the following information to prepare a statement of cash flows for reynolds inc. for 2011 using the
Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.
BB Corporation has 200,000 shares of $5 par common stock issued and outstanding. What are the common earnings per share
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