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1. Cole Inc. owns shares of Marlin Corporation stock classified as available-for-sale securities. At December 31, 2010, the available-for-sale securities were carried in Cole's accounting records at their cost of $875,000, which equals their market value. On September 21, 2011, when the market value of the securities was $1,200,000, Cole declared a property dividend whereby the Marlin securities are to be distributed on October 23, 2011, to stockholders of record on October 8, 2011. Prepare all journal entries necessary on those three dates.
On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.
one of your vendors that work closely with your franchise wants to purchase 10 million in materials and services from
Peachtree Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May.
Identify and discuss some of the issues that are common to the planning, building, and operation of an ERP, CRM, or PLM enterprise system whether for an SME or a large multinational organization.
Jenco Incorporated's only product is a combination fertilizer-weed killer called Fertikil. Fertikil is sold nationwide through normal marketing channels to retail nurseries and garden stores.
List four basic differences between the information content of the fund financial statements and the government wide financial statements.
list and describe the four standards in the imas statement of ethical practice. as part of your answer be sure to
Northwood Company manufactures basketballs. The company has a ball that sells for $42. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $25.20 per ball, of w..
the general ledger of speedy ship at june 30 2012 the end of the companys fiscal year includes the following account
The mortgage interest is only on her home because the horse farm improvements are not mortgaged. a. What are Samantha's tax consequences if the miniature horse activity is a hobby? b. If it is a business?
Emron Company owns a 100% interest in the common stock of the Dietz Company. On January 1, 20X2, Emron sold Dietz a fixed asset that Dietz will use over a 5-year period. The asset was sold at a $5,000 profit. In the consolidated statements, this p..
wallace corporation issued 3000 shares of 10 par value common stock in exchange for a giant water slide valued at
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