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The primary revenue source for not-for-profit organizations is contributions. Please define what a contribution is, and discuss how the different types of contributions are recognized as revenue (i.
a. What does it mean when a bond is issued at a premium or a discount? b. Discuss how the amortization of the discount or premium get reported on the income statement and the balance sheet?
On February 18, 2013, Union Corporation purchased 10,000 shares of IBM common stock as a long-term investment at $60 per share. On December 31, 2013, and December 31, 2014, the market value of IBM s
Both human judgment and information technology are important in accounting information systems. In which of the following pairs of tasks will information technology be more critical than human judgm
what is the present value of the second alternative? Which of the two alternatives should be chosen and why? How would your decision change if the opportunity interest rate was 12%? Please, show all
Record the insurance of the $100,000 note in the General Fund and the governmental activities general journal.
Calculate the amount of the child and dependent care credit allowed for 2010 in each of the following cases, assuming the taxpayers had no income other than the stated amounts.
During the 2010 tax year, Irma incurred the following expenses: Union dues $275Tax return preparation fee 125Brokerage fees for the purchase of stocks 35Uniform expenses 300If Irma's adjusted gross i
What total incremental manufacturing cost will Martinez incur if it increases production from 10,000 to 10,001 units?
Assuming Jerry has adjusted gross income of $45,000, has the necessary written acknowledgments, and itemizes deductions. Complete the Gifts to Charity section of Schedule A, what is Jerry's deductio
Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock,and $1,000,000 of 10% convertible bonds outstanding during 2011.
Ken paid the following amounts for interest during 2010: Qualified interest on home mortgage $4,700; Auto loan interest 850
Which of the following most likely would be considered a discontinued operation?
In addition, during the year they drove 109 miles for medical transportation, and their insurance company reimbursed them $900 for the above expenses. Calculate the Murphy's medical expense deducti
Three potential investments projects (A, B, and C) at Clouse Corporation all require the same initial investment, have the same useful life (three years), and have no expected salvage value. The exp
What is the net income Margaret should show on her Schedule C? Show the cal-culation of her taxable business income.
Depreciation for the year is estimated to be $6,000. Prepare the adjusting entry for depreciation at December 31, post the adjustments to T accounts, and indicate the balance sheet presentation of t
Salter Inc.'s unit selling price is $50, variable costs are 70%, fixed costs are $125,000, and current sales are 10,000 units. How much will net income change if sales increase by 5,000 units?
Note payable of $200,000. The note is payable in annual installments of $20,000 each, with the first installment payable on March 1, 2014.
Mr.xxxxx owned an office building that he had purchased at a cost of $600,000 and that now had an adjusted basis of $400,000. In the current
Determine the year-end balance in retained earnings for K and J Nursery, Inc.
Assume that the organizers can negotiate the fixed payment for the pavilion's operating expenses. If the organizers expect to sell 9,000 tickets, how much can they afford to pay and still earn a pr
A company's had a quick ratio of 1.4, a current ratio of 3.0, an inventory turnover of 6 times, total current assets of $675,000, and cash and marketable securities of $100.000 in 2007. What were th
8 John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Jack has recently come into an inheritance of $400,000.