Question - If a company purchases land for $1,000,000, paying $400,000 cash and borrowing the remainder with a long term note payable. Please give explanation for understanding on how this transaction be reported on a st ...
|
Question: Household Budget 1. Create a simple household budget, including all income and expenses. There are various templates available online to help you do this. Find one that you feel comfortable with and that fits y ...
|
Question - a. Revenue of $62,000 was earned, but only $45,000 was collected. Expenses of $36,000 were incurred, but only $30,000 was paid. What is reported operating income? b. Wages of $5,000 are paid every Friday for a ...
|
Question - Jimeniz Enterprises issued 9%, 5-year, $2,600,000 par value bonds that pay interest semiannually on September 1 and March 1. The bonds are dated September 1, 2014, and are issued on that date. The market rate ...
|
Question: Purpose of Assignment This assignment is critical for students to gain a fundamental understanding of management's and auditor's responsibility for detecting errors, material fraud, and illegal acts. This assig ...
|
Question - On January 2, 2017 the first year of operations, Alpha Corp issued 15,000 shares of $10 par value common stock for $15 per share. On july 1, 2017 Alpha Corp 1,000 of these shares were reacquired for $20 each. ...
|
Question - On January 1, 2017, Desert, Co. rendered consulting services to Beach, Co. in exchange for a $100,000 non-interest-bearing note. The note matures on December 31, 2018. Principal and interest will be remitted a ...
|
Question - Pina Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Pina should pay $20,180 at the time of purchase and $5,020 at the end of each of the next 8 years. The ...
|
Question - Hardcastle Ltd. had sales of $3 000 000 and net operating income of $900 000. Operating assets during the year averaged $1 500 000. The manager of Hardcastle is considering the purchase of a new machine which ...
|
Question - A taxpayer purchased land in 2007 for $85,000 and sold it in 2016 for $75,000 cash. The buyer also assumed the mortgage of $5,000. What is the amount of gain/loss on the sale of the land? $5,000 loss. $5,000 g ...
|
|