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On Feb. 23, 1981, the town of Lincoln, which operates on the calender year, issued 4% general obligation bonds with a face value of $300,000 payable Feb 23, 1991, to finanace the construction of an addition to the city hall. Total proceeds were $308,000.
On Dec. 31, 1981 the addition to the city hall was officially approved, the full cost of $297,000 was paid to the contractor.
Prepare Journal Entries for the government based on the production of fund-based financial statements. Than prepare JE entries in anticipation of preparing governement-wide financial statements. Before each JE for fund-based reporting, indicated in which JE will be recoreded.
A company budgeted unit sales of 102,000 units for January, 2010 and 120,000 units for February, 2010. The company has a policy of having an inventory of units on hand at the end of each month equal to 30% of next month's budgeted unit sales.
What gain or loss is recognized by the corporation when it issues its shares to John? What is the basis to the corporation of the property it received from John?
Suburban Lifestyles, Inc. has manufactured prefabricated houses for over 20 years. The houses are constructed in sections to be assembled on customers' lots. Suburban Lifestyles expanded into the precut housing market when it acquired Fairmont Com..
On January 1, 2010, Branson Designers issued $900 Million of its 8% bonds $836 million. The bonds were then prices to yield 10%. The interest will be payable on June 30 and December 31.
Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..
How do the provisions of SFAS No. 123(R) differ from the bill introduced by members of Congress (Dreier and Eshoo), which would require expensing for options issued to only the top five officers in a company? Which approach do you think would res..
Compute pension expense and prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010.
What are the tax consequences of a qualifying stock redemption to the distributing corporation?
Please help me research The American Red Cross Organization and determine a need based on an existing program or even develop a new program that would be beneficial to the organization and the community that it serves.
If a devious company wanted to get the highest possible near-term earnings after acquisition, which asset and liability allocation would be maximized and minimized and why?
Assuming that a prevailing interest rate of 8% applies to this contract, how much should Fishbone record as the cost of the machine?
General Motors Corp. is the world's largest automaker and has led the auto industry worldwide in sales since 1938. GM employs over 324,000 people worldwide, with manufacturing operations in 32 countries and sales operations in 200 countries.
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