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Dr. Theodore Dough made a $ 500,000 gift to the Village of Radnor. Dr. Dough stipulated that the corpus of the gift ( together with all investment gains and losses) was to remain intact in perpetuity and that all earnings on the investments ( after paying expenses for administering the gift) were to be used solely for the purchase of books by the Teddy Library Special Revenue Fund. Record the following transactions in the Dough Permanent Fund, and prepare the required fund financial statements for the year ended December 31, 2012.1. Dough donated $ 500,000 to the Village of Radnor.2. The entire gift was immediately invested in various securities.3. The investments earned $ 30,000 in dividends and interest during the year.4. The Permanent Fund paid the village $ 2,000 for administrative expenses.5. In accordance with the terms of the gift, $ 25,000 was sent to the Teddy Library Special Revenue Fund.6. At year end, the investments held by the Permanent Fund had a fair market value of $ 508,000.
If a French company using IFRS revalued its property,
flip company purchased equipment on january 1 2011 for 90000. it is estimated that the equipment will have a 5000
The gain from sale of land that will appear in the consolidated income statements for 20X2 and 20X3, respectively, is ____.
a company with an annual accounting year ending on december 31 issued bonds on january 1 in the amount of 500000
on february 1 2013 arrow construction co. entered into a three year construction contract to build a bridge for a price
Show Journal entries and necessary accounts. Also show how the items will appear in Profit and Loss account and Balance sheet.
the overhead costs that lucca industries inc. used to compute its overhead rate for the past year are as follows
grove corp. has revenues of 1531000 resulting in an operating income of 183000. average invested assets total 801000.
Determine the ending balances in accounts receivable and allowance for doubtful accounts.
Identify at least three (3) ratios that could be manipulated to mislead investors and creditors regarding the company's financial condition. Examine the motivation of management to manipulate the ratios identified.
Warren Co. recorded a right-of-use asset of $900,000 in 8-year lease under which no profit was recorded at commencement by lessor-The balance in right-of-use asset after 2 years will be:
Preparation of financial analysis report
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