Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
John Smith started a consulting business and completed the following transactions during January 2011. Journalize the transactions. Explanations are not required.
1. John incorporated the business, Consulting Inc., and invested $10,000 for common stock.
2. Paid $3,000 monthly rent for office space.
3. Purchased $5,000 of office equipment, paying cash.
4. Recorded $2,000 of revenue, receiving cash.
5. Collected cash from a customer on account, $800.
On April 1, Quality Corporation, a U.S. company, expects to sell merchandise to a French customer in three months, denominating the transaction in euros. On April 1, the spot rate is $1.41 per euro.
Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2010, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income is:
Assume that 2,20 contracts were sold in 2011 and that contract sales were made evenly over the year. Give the entries required for 2011 and 2012 to account for the 2,200 contracts.
During August, the cost of goods manufactured was $73,000. The beginning finished goods inventory was $15,000 and the ending finished goods inventory was $21,000. What was the cost of goods sold for the month?
Determine the number of equivalent units of production with respect to direct materials and conversion costs. Enter all amounts as positive numbers. If an amount is zero or a blank, enter in 0.
Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
Kettle Company has sales of $450,000, operating income of $250,000 average invested assets of $800,000, and a hurdle rate of 10 percent. Calculate Kettle's return on investment and its residual income.
Erik Co. elects to use the percentage-of-sales basis in 2012 to record bad debts expense. It estimates that 3% of net credit sales will become uncollectible. Sales are $808,455 for 2012, sales returns and allowances are $47,894, and the allowance ..
Mr. Green seeks your advice as to the tax consequences attached to each offer. Assume that he will no other sale of business assets or capital assets during the year. What is your advice?
Stock Options, Prepare the necessary entries from 1/1/10-2/1/12 for the following events using the fair value method. If no entry is needed, write "No Entry Necessary."
Andree is about to graduate college with a management degree. She has been offered a job as a sales representative for a pharmaceutical company. The job will require significant travel and entertainment expenses for which she will be given a salar..
Accrued rents on the apartment building are as follows" 70,000 (date of death) and 60,000 (six months later). In order to pay expenses, the executor of Arlene's estate sells the Tan stock for $600,000 eight months after her death.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd