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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.
office supplies on hand at year end amounted to 3000
Financial accounting reports are mandatory to be prepared by the firms, and are scrutinized by auditors, creditors or Government or Tax authorities. But management accounting recor
Beth Clark is an Accounting Manager at Specialty Products Corp. One afternoon in early January 2012, her boss, Controller Dan Greene, met with her and stated the following, "Beth,
One or more phases in the operation cannot supply all the items it makes concurrently.
A supplier to the electric utility industry produces power generators. The Transportation costs are high. One market area includes the lower part of the Great Lakes region
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Shareholders and Investors: as shareholders and the other investors have invested their wealth in a business activity, they are interested in understanding periodically regarding
Q. Example of Adjustments for deferred items? A real physical inventory a count of the supplies on hand at the end of the month showed only USD 900 of supplies on hand. Therefo
How do I do case problem level 1 for chapter 3 of succeeding in business with Microsoft excel 2013?
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