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Total current assets are worth $237,513 at book value and $191,299 at market value. In addition, plant and equipment has a market value of $343,222 and a book value of $560,320. The company's total current liabilities are valued at market for $134,889, and have a book value of $129,175. Both the book value and the market value of long-term debt is $144,000. If the company's total assets have a market value of $534,521 and a book value of $797,833, what is the difference between the book value and market value of its stockholders' equity?
As a result of a comprehensive analysis, it is determined that the December 31, 2011 balance of Allowance for Bad Debts should be $6,300. Show, in general journal format the adjustment required.
ZAK trading was incorporated on January 1/2006 with an initial capital of 200,000 during the first month of its operations the company engaged in following trans actions
Harrel Company acquired a patent on an oil extraction technique on January 1, 2010 for $5,000,000. It was expected to have a ten-year life and no residual value. Harrel uses straight-line amortization for patents. On December 31, 2011, the future ..
In exchange for all of its stock, Aqua receives: assets (basis of $380,000 and fair market value of $1.8 million), trade accounts payable of $125,000, and loan due to a bank of $375,000. The proceeds from the bank loan were used by Shawn to provid..
johnson enterprises inc. is involved in the manufacture and sale of electronic components used in small amfm radios.
Tree Frog Company is organized as a LLC and pays no income taxes. The company has fixed interest expense of $5,750, Sales of $253,000 and variable expenses of $189,750. What is the company's times interest earned ratio?
On January 1, 2010, Jon purchased 50% of Waite, an S corporation, for $75,000. At the end of 2010, Waite incurred an ordinary loss of $1600. How much of the loss can Jon deduct on his personal income tax return for 2010?
holtrop corporation has received a request for a special order of 9000 units of product z74 for 45.90 each. the normal
wriston company has 360000 to invest. the company is trying to decide between two alternative uses of the funds. the
Barbara sells a house with a FMV of $170,000 to her daughter for $120,000. From this transaction, Barbara is deemed to have made a gift (before the annual exclusion) of:
James, Inc., sells inventory to Matthews Company, a related party, at James's standard markup. At the current fiscal year-end, Matthews still holds some portion of this inventory -why are worksheet entries required in two different fiscal periods?
Freedom Corporation reports the following amounts: Assets = $12,000; Liabilities = $2,000; Stockholders' equity = $10,000; Dividends = $2,000; Revenues = $15,000; and Expenses = $11,000. What amount is reported for net income?
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