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A company just closed its temporary accounts and has credit balance of $100,000 in the income summary a. Punt and a balance of 20,000 in dividends. I need the journal entry to close the income summary account into retained earnings.
Prepare journal entries to record each of the above transactions. On September 1, the company acquired five acres of land with a building that will be used as a warehouse. Tristar paid $140,000 in cash for the property. According to appraisals, the l..
Determine the degree of operating leverage for each alternative. Calculate the increase in Net income for each alternative if sales increased by $137,000.
On January 1, 2014, Gottlieb Corporation issued $4,450,000 of 10-year, 9% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 9 shares of Gottlieb Corporation $103..
The ending balance of the Western Flyers cash account is $12,875.00 - Complete a bank/account reconciliation and write any necessary journal entries for the reconciliation.
when Terry deeds the property to the creditor, she also receives $25,000 from the creditor. What are the tax consequences to Terry?
Yoda Company purchased all the stock of Vadar Company at book value. On October 31st 2015 Yoda sold inventory to Vadar on account. The inventory had cost Yoda $50,000 and it was sold to Vadar for $90,000.
If two years’ preferred dividends are in arrears and the preferred stock is callable at $65 per share, what are the book values per share of the preferred stock and the common stock? Raphael Corporation’s common stock is currently selling on a stock ..
Monroe Corporation is considering the purchase of new equipment. The equipment will cost $37,900 today. However, due to its greater operating capacity, Monroe expects the new equipment to earn additional revenues of $6,000 by the end of each year for..
A friend has suggested that Ira sell the stock and contribute the 20,000 in proceeds rather than contribute the stock. Should Ira follow her friends advice? Why?. Assume the fair market value is only $13,000. In this case, should Ira follow the fri..
project anlaysis based on npv.you are considering a new product launch. the project will cost 870000 have a 4-year life
finding the equivalent units for materials and conversion.bell computers ltd. located in liverpool england assembles a
The international nature of the club’s guests poses challenges for the kitchen staff, Japanese break-fasts feature miso soup, stewed vegetables in soy sauce, and rice porridge whereas Germans are accustomed to cold cuts and bread for breakfast. The n..
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