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John Smith started a consulting business and completed the following transactions. Prepare all journal entries related to these transactions.
a. Incorporated the business and invested $10,000 for the issuance of common stock. b. Paid $2,000 monthly rent for office space. c. Purchased $3,000 of office equipment, paying cash. d. Recorded $1,000 of revenue, receiving cash. e. Recorded $1,500 of revenue on account and mailed invoices to the customer.
Greetings Online disposed of a van that cost $22000 with accumulated depreciation of $15000. The journal entry would be to:
Evaluate the inventory turnover ratio for 2010 by using the LIFO and FIFO cost-flow assumption methods.
If Heather's AGI is $100,000 before considering the effects of the fire, determine her itemized deduction as a result of the fire. Also determine Heather's AGI.
The user has updated the question: User's response: Calculate the financial impact of buying a CT unit that would cost $3.0 million, would have a five-year useful life, would have a 10 percent salvage value.
Hayden's outside basis in his interest in the HIGH Partnership is $420,000. In a proportionate nonliquidating distribution, the partnership distributes to him cash of $100,000, inventory
Prepare a schedule of cash collections for January, February, and March and for the quarter in total, Prepare a production budget for January, February, and March and for the quarter in total.
Shelton Engineering completed the following transactions in the month of June. Prepare a trial balance as of the end of this month's operations
Daniel figures that he has loss of $60,000 on each stock. If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is tax savings from the special tax treatment?
Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.
Hugo was planting a tree when he unearthed 100,000 certificates of ITT bearer bonds, with a current value of $4 million.
You're an IT auditor working for $15 million sales per year speciality chocolate candy manufacturer. The company is planning to engage in e-commerce over Internet. What would be your five biggest concerns regarding risk and why?
Write an analysis about test of liquidity that compare Best buy to Radio Shack and Conn's.
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