Revenue Recognition - Midwest Health Club (MHC) offers 1-year memberships. Membership fees are due in full at the beginning of the individual membership period. As an incentive to new customers, MHC advertised that any c ...
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Question - Ralph Henwood was paid a salary of $64,600 during 2018 by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $70,000 on h ...
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Question - Richard starts his own business in 2016 with $2,000 owner's capital. In 2016, he bought 10 textbooks at $1,000 and sold 5 of them at $600. There is no other transaction during 2016. What is the cost of goods s ...
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Question - Parent Inc. purchased all of the outstanding shares of Sub Ltd. on January 1, Year 1 for $214,000. Amortization of the acquisition differential amounted to $16,000 in each of Years 1 and 2. Parent Inc. reporte ...
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Question - Garfield Gunman; purchased, as a held-to-maturity investment, $80,000 of the 9%, 5-year bond on Chester Corporation for $70,086, which provides an 11% return. Prepare Garfield's journal entries for (a) the pur ...
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Question - On August 1, 2018, Alpha Corp. declared 5% share dividends on its common stock when the market value for the common stock was $15 per share. Shareholders' equity before the stock dividend was declared consiste ...
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Question - White Mountain Sled Company manufactured 3,000 Children's snow sleds during November. The following variable overhead data relates to November: Budgeted variable overhead cost per unit $12.00 Actual variable m ...
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Question: To make your decision you should use research and clearly lay out the facts and assumptions. You should then use the tools like IRR, NPV, TVM, Ratio Analysis, etc to analyze the facts. Finally, make a closing s ...
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Question - Sunshine Company purchased equipment for $100,000 in 2012. The machinery originally had an estimated life of 8 years and a salvage value of $10,000. Sunshine used the straight-line depreciation method. In 2016 ...
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Question - A company had no office supplies at the beginning of the year. During the year, the company purchased $370 worth of office supplies. On December 31, $135 worth of office supplies remained. How much should the ...
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