Question - Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date. Determ ...
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Question - ELS, an S corporation, reported a business loss of $1,000,000. Ethan, ELS's sole shareholder, is involved in ELS's daily business activities and he reports $1,200,000 of taxable income from sources other than ...
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Question - On December 31, 2016, Alpha Company invested $10,000 in 2 years, certificate with a 4% annual interest rate with semi-annual compounding. Use this information to determine the maturity value of the certificate ...
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Question - Journalize the transaction 1. Collected $25,000 for services to be provided over the coming year on June 30. 2. Paid $72,000 for a three-year insurance policy on July 10 with coverage beginning on August 1. 3. ...
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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 - Ayayai Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 642 @ $6.00 April 3 535 @ $10.000 4 1,605 @ 6.08 9 1,498 @ 10.00 8 856 @ 6.41 11 642 @ 1 ...
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Question - Victoria's 2016 tax return was due on April 15, 2017, but she did not file it until June 12, 2017. Victoria did not file an extension. The tax due on the tax return when filed was $9,400. In 2016, Victoria pai ...
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Question - The following information pertains to Hagen Metal Work's ending inventory for the current year: Item Quantity Unit Cost Unit Market Value C 90 $24 $16 D 75 22 20 K 40 25 28 M 22 15 17 Required - a. Determine ...
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Question - What is the role of the external auditor play in the legal actions of clients? How about the internal auditor? What are three characteristics/objectives of a good investigation report?
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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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