• Q : Compute mark''s and pamela''s ending basis....
    Accounting Basics :

    Compute Mark's and Pamela's ending basis in their partnership interests assuming their beginning balances are $150,000 each.

  • Q : Stock or bond by a foreign investor....
    Accounting Basics :

    The purchase of a U.S. stock or bond by a foreign investor is:

  • Q : Journal entry to record the ultimate payment problem....
    Accounting Basics :

    George Masonry accepted a four month, 10% interest, $1800 note from Earth Tones on July 1,2008 The entire balance is payable at the note's maturity. Assume that george masonry accrues interest on th

  • Q : Prepare an income statement....
    Accounting Basics :

    Prepare an income statement for this subsidiary in stickles and then translate these amounts into U.S. dollars

  • Q : Prepare the june adjusting journal entry....
    Accounting Basics :

    Stronger Satellites accepted a five-month, 7% interest rate, $6000 note from one of its customers on June 1,2008. The entire balance is payable at the note's maturity. Prepare the june 30 adjusting

  • Q : Journal entry establishing the note on mcnamee books....
    Accounting Basics :

    Johnny Mac ran into a cash crunch and was able to pay only $1200 in the prescribed period. Both parties agreed to satisfy the remaining balance with a six-month note at 13% interest all payable at t

  • Q : Compute the increase in fixed cost for 2011....
    Accounting Basics :

    In 2012, the selling price and the variable cost per unit did not change, but the break-even point increased to $443,200. compute the increase in fixed cost for 2011

  • Q : Stock issued and the outstanding at the end of the year....
    Accounting Basics :

    write a paragraph that explains the number of shares of the stock issued and the outstanding at the end of the year.

  • Q : Sale of goods to company....
    Accounting Basics :

    Suppose Company A places an order with Company B on May 12. On May 14, Company B ships the ordered goods to Company A with terms FOB destination. The goods arrive at Company A on May 17. Company A b

  • Q : Prepare x''s journal entries for 2002 and 2003....
    Accounting Basics :

    X purchased 30% of Y of Y on January 1, 2002 for $300,000. On the date, Y's net assets of Y had a book value of $500,000. Any Acquisition Differential on the acquisition date is to be allocated to Y

  • Q : Relevant federal rate on interest....
    Accounting Basics :

    On January 1, Father (Dave) loaned Daughter (Debra) $100000 to purchase a new car. There were no other loans outstanding between Dave and Debra. the relevant federal rate on interest was 6 percent.

  • Q : Selling price after split-off and separable....
    Accounting Basics :

    Feline Fabrications produces two products, Me and Ow, with joint production costs of $60,000. The company elects use the net realizable value method of allocating costs between the 15,000 units of M

  • Q : Classifying expenditure as a capital or revenue expenditure....
    Accounting Basics :

    Identify the factors that are considered in classifying expenditure as a capital or a revenue expenditure. Are there instances where it may be difficult to classify an expenditure as one or the othe

  • Q : Inventory management and control....
    Accounting Basics :

    Explain how AIS can help a manufacturing company improve inventory management and control.

  • Q : Common stockholders will receive a dividend....
    Accounting Basics :

    A corporation has 1,000 shares of 10 percent, $50 par-value preferred stock and 10,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends

  • Q : Which company has the higher profit....
    Accounting Basics :

    You are given the following data on two companies, M and N (figures are millions): Which company has the higher profit?

  • Q : Department contribution to overhead as a percent of sales....
    Accounting Basics :

    The Footwear Department of Lee's Department Store had sales of $188,000, cost of goods sold of $132,500, indirect expenses of $13,250, and direct expenses of $27,500 for the current period. The Foot

  • Q : Corporation accumulating e-p....
    Accounting Basics :

    On January 1, Gull Corporation (a calendar year taxpayer) has accumulated E & P of $200,000. During the year, Gull incurs a net loss of $280,000 from operations that accrues ratably. On June 30,

  • Q : What tax year-end must presidential suites use....
    Accounting Basics :

    The partners year-ends, profits interts and capital interest are reflected below. Given this information, what tax year-end must Presidential Suites use and what rule requires this year-end?

  • Q : What it the tie ratio....
    Accounting Basics :

    if assets=10000, profit margin = 3%, debt ratio = 60%, interest rate is 10%, tax rate is 40% and total asset turnover is 2.0, what it the TIE ratio?

  • Q : Cost of equipment in the rate charged....
    Accounting Basics :

    Assume that the equipment in the item 6 was contributed by the city and that the pricing objective was to recoup the cost of equipment in the rate charged over the life of the equipment.

  • Q : Provide the journal entries recorded by magellan....
    Accounting Basics :

    Provide the journal entries recorded by Magellan during 2008 on its books if it accounts for its investment in Dipper using the equity method.

  • Q : Straight-linemethod of amortizing bond discount or premium....
    Accounting Basics :

    Madison Company issues $5,000,000 face value, 12%, 5-year bonds payable on December 31, 2005. Interest is paid semiannuallyeach June 30 and December 31. The bonds sell at a price of 97; Madison uses

  • Q : What would be the supplies cost in the flexible budget....
    Accounting Basics :

    The actual supplies cost for the month was $9,500. what would be the supplies cost in the flexible budget for January ?

  • Q : Paid-in-capital in excess of par value....
    Accounting Basics :

    Common stock $10,000 and Paid-in-Capital in Excess of Stated Value $6,000.Common stock $10,000 and Paid-in-Capital in Excess of Par Value $6,000.Common stock $6,000.Common Stock $10,000 and Retained

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