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Question 1: Chun Company reported a beginning balance in retained earnings of $12,600. They paid no dividends during20x5. At the end of the year, there were debit entries to retained earnings totaling $305,200 and credit entries totaling $297,400. Net income or net loss for 20x5 was:
A. $20,400 net income
B. $7,800 net income
C. $4,800 net income
D. $20,400 net loss
E. $7,800 net loss
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On February 1, 2011, Lagune & Sons issued 9% bonds dated February 1, 2011, with a face amount of $200,000. The bonds sold for $182,841 and mature in 20 years. The effective interest rate for these bonds was 10%. Interest is paid semi annually on July..
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Martin-Pullin Bicycle Corp. (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm's primary retail outlets are located within a 400-mile radius of the distri..
Describe a real-world problem you have encountered, in either your personal or professional life, in which you needed to use fractions or decimals to solve the problem.
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