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On January 1, 2012, the organizers of the Parsons Corporation contained their charter and issued 10,000 shares of $1 par common stock for $4 per share. During 2012, the corporation earned $30,000 in cash revenue and paid $20,000 in cash expenses, not as well as income tax. The income tax rate was 30%, and the company's income tax expense was $3,000. The company declared and paid cash dividends totalling $2,000. Using the above information, arrange an income statement and a balance sheet for the Parsons Corporation.
Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of
Q. Effects of bias in terms of accounting? Where there is no correspondence the cause may be (a) bias or (b) lack of completeness. - Effects of bias. Accounting measuremen
Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the
Acid test ratio = 2.5, current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share holder''s fund = 15,00,000 Stock inventory =? Bank overdraft =? Share capital =
Accounting concepts are used in relation to accounting procedures for a specific business enterprise. Some of these are: Going concern Verifiable
Contain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System. What is the specific citat
Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B
Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc
Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
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