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Collectibility of the rental payments is reasonably assured, and there are no lessor costs yet to be incurred. What is the interest revenue that Technoid would report on this lease in its 2009 inco
Francisco's incremental borrowing rate is 12% for this type of lease. The implicit rate of 10% is known by the lessee. What should be the balance in Francisco lease liability at December 31, 2010?
Disregarding the marital complications, do you suppose that the partners would have been able to receive their proportional share of the equity determined in Question 2 if the partnership was dissol
Receipts from cash sales of $7500 were recorded incorrectly in the cash receipts journal as $5700. What entry is required in the company's accounts?
first 6 months of 2009, the company reported the following operating results while operating at 90% of plant capacity.
Klugman Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Klugman purchased 6 units at $660 each.The c
Canon Corporation has $600,000, 10%, 10-year convertible bonds that were sold at face value. The bonds are convertible into 20 shares of Canon $10 par value common stock for each $1,000 bond. On De
what is the amount of the short term notes payable that should be reported as current liabilities on the dec 31, 2009 balance sheet which is issued on march 5, 2010 ?
The following data for the Alma Company pertain to the production of 1,000 urns during August. What is standard direct material amount per urn?
Land is purchased with a $20,000 down payment and the execution of an $80,000 promissory note. How does this purchase affect the accounting equation?
John and Mary made charitable contributions of $4000 during the year and paid and additional 1200 in state income taxes in 2010 upon filling their 2009 state income tax return. their deductible home
department store has budgeted cost of sales of $36,000 for its men's suits in March. Management also wants to have $15,000 of men's suits in inventory at the end of March to prepare for the summer s
For next year, Galliart, Inc., has budgeted sales of 60,000 units, target ending finished goods inventory of 3,000 units, and beginning finished goods inventory of 1,800 units. All other inventorie
Suppose you know that a company's stock currently sells for $65.10 per share and the required return on the stock is 12 percent. You also know that the total return on the stock is evenly divided be
Incron Corporation began the year with retained earnings of $217000. During the year, the company issued $294000 of common stock, recorded expenses of $840000, and paid dividends of $56000. If Incro
Andrews FFlight school had accounts recievable of $98500 and an average collection period of 35 days. What were the total credit sales for Andrew.
How much would Johnstone report as the net realizable value of its accounts receivable after the adjusting entry?
If an issue is underpriced, it will be rationed, and only half your order will be filled. If you could get 1,000 shares in Woods and 1,000 shares in Garcia, what would your profit be? What profit do
William Nowland's filing status is qualifying surviving spouse. His taxable income for 2009 is $76,000. Included in that amount is $5,000 of qualified dividends. How much federal income tax does he
Melissa Wimberley sold 100 shares of ABC stock with an adjusted basis of $1,000 for $2,000. She also sold 500 shares of XYZ stock with an adjusted basis of $20,000 for $12,000. She had no other sale
Bethell Management performed consulting services for one client and was paid $3,000. It performed consulting services for another client in exchange for tax preparation services for which it normall
Judith Beane had a regular tax liability of $20,000 and a tentative minimum tax of $23,000. What is the amount of her alternative minimum tax?
She deducted $3,000 for health insurance premiums, $6,000 for real property taxes, $4,239 for self-employment taxes, $10,000 for mortgage loan interest, and $2,500 for state income taxes. Based on t
A corporation's taxable income before the dividends received deduction (DRD) is $70,000. Included in this amount is dividend income of $60,000 from another corporation in which the taxpayer owns 85
The amount of Federal Income tax withheld from his earnings was $1,375.17. What is the amount of the employer's payroll taxes liabilities?