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track town co had the following transactions involving intangible assetsjan 1 purchased a patent for leather soles for 10000 and estimated its useful
the harshman company constructed a building for its own use the company incurred costs of 20000 for materials and supplies 48000 for direct labor and
lisa and mark the third generation of the gilbert family had successfully taken the family business from one small cafeacute in appleton to a
natco inc uses the fifo inventory costflow assumption in a year of rising costs and prices the firm reported net income of 480000 and average assets
kalriess company ordered a machine on january 1 2011 at an invoice price of 21000 on date of delivery january 2 2011 the company paid 8000 on the
information related to plant assets natural resources and intangibles at the end of 2010 for spain company is as followsbuildings 1100000accumulated
1 why might a company want to reduce its cash conversion cycle consider the financial statement implication of reducing the cash conversion cycle2
use of account balances as a basis for adjustments lorimatlock operates a graphic arts business a list of accounts on june 30 2010 before recording
the selling expenses of caribou inc for 2011 are 13 of sales general expenses excluding doubtful accounts are 25 of cost of goods sold but only 15 of
the capital structure of blacksmith inc at december 31 2011 included 18000 shares of 1 preferred stock and 38000 shares of common stock common stock
you are an accountant for the lanthier company the president of the company calls you into the office and says owe have to find a way to reduce our
objectives1 demonstrate an ability to provide eliminating as well as adjusting entries in the preparation of consolidated worksheets2 understand
lessee company leases heavy equipment on january 1 2007 under a capital lease from lessor company with the following lease provisionsthe lease is
tulsa company has income before irregular items of 310000 for the year endeddecember 31 2012 it also has the following items before considering
borders group inc presented this information in its 10-ksrequireda compute the following liquidity ratios for 2009 and 20081 days sales in inventory2
one of the main ways in which the lsquoveil of incorporation can be lifted is when directors breach their duties this essay question is set around
on september 1 northhampton industries signed a six-month lease for office space which is effective september 1 northhampton agreed to prepay the
maher inc reported income from continuing operations before taxes during 2012 of 790000 additional transactions occurring in 2012 but not considered
fargo voice of fargo north dakota publishes a monthly magazine featuring local restaurant reviews and upcoming social cultural and sporting events
toleman biochemicals decided to offer shares to the public for the first time on january 1stnbsp2007 toleman were authorized to sell 100000 preferred
the acme company issued 5 10-year bonds payable at 90 on december 31 2010 at december 31 2012 acme reported the bonds payable as followsbonds payable
yolanda fonagy sat in mr voyteks accounting class frustrated and confused she felt certain that she knew the basics of debiting and crediting
equipment purchased at the beginning of the fiscal year for 150000 is expected to have a useful life of 5 years or 15000 operating hours and a
computer equipment office equipment purchased 6 12 years ago for 170000 with an estimated life of 8 years and a residual value of 10000 is now sold
for a business that makes advance provision for uncollectible receivablesa journalize the entries to record the following1 record the adjusting entry