Question - Alpha Corp. was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value of common stock @ a price of $50 per share. On December 31st, Alpha reported Net In ...
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Question - Community Health Center (CHC) is considering spending fifty thousand dollars on a blood analyzer. The annual cash profits from the machine will be seven thousand dollars for each of the seven years of its usef ...
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Question - If a company purchases land for $1,000,000, paying $400,000 cash and borrowing the remainder with a long term note payable. Please give explanation for understanding on how this transaction be reported on a st ...
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Question - Assume the following is the stockholders' equity section of the 2016 Merck & Co., Inc., balance sheet. Stockholders' Equity ($ millions 2016 Common stock, one cent par value; Authorized-5,400,000,000 shares; I ...
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Question - Flounder Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $434,700. The estimated fair values of the assets are land $82,800, building $303,600, and equipment $110,400 ...
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Question - Personal Budget At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on Dec ...
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Question - 1. Cerviq Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100. 2. Quartz Company does not segregate sales and sales t ...
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Question - Journal entries for job order costing Cycle Specialists manufactures goods on a job order basis. Durin the month of June, three jobs were started in process. (There was no work in process at the beginning of t ...
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Question - Linda received $90,000 in salary income for 2018. She has no dependents. Determine her income tax liability under each of the following independent situations: She files as a single individual. She is married ...
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Question - Poe, Inc. had the following bank reconciliation at March 31, year 2: Balance per bank statement, 3/31/Y2 $46,500 Add deposit in transit 10,300 56,800 Less outstanding checks 12,600 Balance per books, 3/31/Y2 $ ...
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