Dec 19, 2020 | Uncategorized
May 29 Issued 4,000 shares of $4 par common stock for land with a fair market value of $20,000.Based on this information, you would have three entries. What would they be?
Dec 19, 2020 | Uncategorized
Anson Corporation had $325,000 in current assets and $145,000 in current liabilities before borrowing $100,000 from the bank for a 6-month period.What effect did the borrowing transaction have on the amount of Anson’s working capital?(a) No effect(b) $100,000...
Dec 19, 2020 | Uncategorized
Desmond Corp. purchased 5, $1,000, 5?% bonds of Geotherm Corporation when the market rate of interest was 14?%. Interest is paid semiannually on the? bonds, and the bonds will mature in four years.Using the PV function in Excel Superscript @, compute the price Desmond...
Dec 19, 2020 | Uncategorized
If EXZ Corp. made a deposit on May 31, but this deposit did not appear on the bank statement, $2,450. How will you adjust the transaction in a bank reconciliation?
Dec 19, 2020 | Uncategorized
B Inc., reports bad debt expense using the allowance method. For tax purposes the direct writeoff method is used. At the end of the current year, B has accounts receivable and an allowance for uncollectible accounts of $5,000,000 and $200,000, respectively, and...
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