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Q : Prepare journal entries to record these transactions and....

Accounting Basics :

problem - shaq security which began operations in 2011 invests in long- term available-for-sale securities following is

Q : Compute for each company the accounts receivable turnover....

Accounting Basics :

question - the following information was taken from recent annual reports of the goodyear tire rubber and ppl energy co

Q : Using the straight-line method compute the annual....

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problem - depreciation computation-addition change in estimatein 1985 abraham company completed the construction of a

Q : Tax-exempt interest 6000 what is margarets adjusted basis....

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question -1 ronald and roy formed an equal partnership rampr partnership a general partnership on january 1 2012 ronald

Q : Don made an initial deposit of 100000 what is the amount of....

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question - assume for 2011 that don made one transfer involving his granddaughter as follows don opened a joint

Q : There is 90000 of life insurance on the life of leslie and....

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question - leslie died on october 31 2011 prior to 2009 leslie had never made any gifts but in 2010 she made some

Q : Determine the direct materials price variance assuming that....

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question - coffey company maintains a very large direct materials inventory because of critical demands placed upon it

Q : Medium inc had one class of stock outstanding how much is....

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question - medium inc had one class of stock outstanding the one class of stock was owned 50 percent by linda and 25

Q : The land was encumbered by a 250000 mortgage how much gain....

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question - big corporation distributed land to its sole shareholder little corporation in a liquidating distribution at

Q : Bob created mno inc several years ago and has owned all 10....

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question - bob created mno inc several years ago and has owned all 10 outstanding shares of mno inc since the creation

Q : Sue received 100 percent of suecos only class of stock how....

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question - sue transferred a building to her newly formed corporation sueco inc the building had an adjusted basis to

Q : Sandra received a payment of 10000 and 100 percent of sda....

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question - sandra transferred property to her newly formed corporation sda inc the property had an adjusted basis to

Q : Wilsons winter woolens manufactures jackets and other wool....

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problem - wilsons winter woolens manufactures jackets and other wool clothing a certain designed ski parka requires the

Q : Corporation also received a 600000 dividend from a 25....

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question - for the current taxable year corporations gross income from operations was 1000000 and its expenses from

Q : Dvidends received from a 70 percent-owned corporation ....

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problem - corporations had the following income and expenses during the current taxable yearincome from operations

Q : Retained earnings december 31 2011 150000 prepare the....

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question - jumpin jehosa phats is a small business owned by jj phats as the sole proprietor jjphats is incorporating

Q : The fair value of the equipment is 400000 prepare the....

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question - jurassic company owns machinery that cost 900000 and has accumulated depreciation of 380000 the expected

Q : Oct 5 declared a 050 per share cash dividend date of....

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problem - stockholders equity december 31 2011common stock- 4 par value 50000 shares authorized 20000 shares issued and

Q : Stone co began operations in year 1 reported 225000 in....

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question - stone co began operations in year 1 and reported 225000 in income before income taxes for the year stones

Q : Noor has no other temporary differences in its december 31....

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question - as a result of differences between depreciation for financial reporting purposes and tax purposes the

Q : Noor has no other temporary differences in its december 31....

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question - as a result of differences between depreciation for financial reporting purposes and tax purposes the

Q : If the inflation rate is expected to be 5 percent for the....

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question - a treasury note with a maturity of four years carries a nominal rate of interest of 10 percent in contrast

Q : Why is equity method is more appropriate than the fair....

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question - why is equity method is more appropriate than the fair value when the investor is able to exert significant

Q : The entry to record the purchase of the bond investment on....

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question -a on january 1 2012 plymouth company purchases 100000 6 bonds at a price of 904 and a maturity date of

Q : Prepare the entry required on december 31 2013 to record....

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question - on june 30 2004 mendenhal company issued 12 bonds with a par value of 600000 due in 20 years they were