during the year. 1 Purchased the following assets and paid for them by cash: Furniture and Fittings $30 000 Equipment $ 45000 A motor van was purchased on account from Saunders Ltd for $40 000. 2 Purchased computer parts for $36 000 cash 3 Sold parts for $60 000 cash 4 Purchase goods on account from Android Enterprise $18 000; ABC Ltd $15 000 and Peter Smith
Premium Generally Accepted Accounting Principles Accounts receivable Invoice
Assume a depreciation rate of twice the straight-line method. 15.A toy store has a beginning inventory of eight sets of paints at a cost of $1.25 each. During the year‚ the toy store purchased three at $1.50‚ five at $2‚ six at $2.50‚ and ten at $3. By the end of the year‚ 21 sets were sold. Calculate the following:
Premium Generally Accepted Accounting Principles Revenue Marketing
made through a broker‚ and the trade occurred on the NYSE. This is an example of D. Secondary market transaction 2. CORRECT Which of the following statements is CORRECT? E. Capital market instruments include both long-term debt and common stocks 3. Talbot Enterprises recently reported an EBITDA of $9.0 million and net income of $2.7 million. It had $3.24 million of interest expense‚ and its corporate tax rate was 40%. What was its charge for depreciation and amortization? Enter your answer in
Premium Stock market Generally Accepted Accounting Principles Finance
known as a A) suspense account. B) nominal account. C) controlling account. D) temporary account. 2. A schedule of accounts payable includes a list of A) customers. B) both creditors and customers. C) neither creditors nor customers. D) creditors. 3. A purchase of store supplies on account is recorded as a debit to the Purchases account and a credit to the Accounts Payable account. A) True B) False 4. A subsidiary ledger containing only creditors’ accounts is called the accounts payable ledger
Premium Accounts receivable Generally Accepted Accounting Principles Balance sheet
P9-7A The intangible assets section of Redeker Company at December 31‚ 2011‚ is presented below. Patent ($70‚000 cost less $7‚000 amortization) $63‚000 Franchise ($48‚000 cost less $19‚200 amortization) 28‚800 * Total $91‚800 * The patent was acquired in January 2011 and has a useful life of 10 years. The franchise was acquired in January 2008 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2012. Jan. 2 Paid $45‚000
Premium Mortgage
This work ACC 407 Week 3 Assignment comprises: Consolidation Problems Business - Accounting Consolidation Problems. Complete P5-38 As part of your homework submission‚ be sure to show your work not just the final answer. Partial credit is awarded for your effort as well as accuracy. Showing your work demonstrates your understanding of the concept even if the final answer is incorrect. Make sure you schedule dedicated study time every day. Even though you may find other things
Premium Study skills Energy English-language films
There have been several concepts learned and discussed that will be beneficial to persons holding positions in the accounting field. Some skills required to be successful are; differentiating between accrual-basis and cash-basis accounting‚ detailing what creating adjusting entries entails‚ and the logistics of preparing an adjusted trial balance. These two methods are somewhat alike but do have a couple differences. Both methods have been tested and proven to be effective ways for companies to
Premium Generally Accepted Accounting Principles Balance sheet Income statement
Week Three Reflection What are five reasons why a company may choose to buy back their own stock? A company will buy back its own stock more a multiple of reason. The company may need to issue shares to its officers and employees under bonus and stock compensation plans. Maybe the company wants to enhance the stock’s market value‚ by having fewer stocks out in the market the value can go up. A company may be trying to buy another company and in order to finalize the purchase the company may need
Premium Dividend Stock Stock market
the file ACC 291 Week 3 Reflection Summary you will find overview of the following parts: Calculating stock‚ dividends‚ and stock splits Differentiate types of stocks issued by corporations. Reference Business - Accounting ACC 291 All Week 3 Assignments - Individual WileyPlus Assignment Includes: Week 3 Chapter 11 practice quiz 1 Week 3 Chapter 12 Practice quiz 1 Week 3 reflection summary Week 3 Discussion questions 1 and 2 Week 3 Individual
Premium Income tax Mortgage Bond
the following: A) the present value of future dividends to be paid. B) the total par value of common stock. C) retained earnings. D) B and C‚ but not A. 3. A corporate charter specifies that the company may sell up to 20 million shares of stock. The company sells 12 million shares to investors and later buys back 3 million shares. Of the 3 million shares bought back‚ the company cancels 2 million and holds 1 million. The number of authorized shares after these
Premium Corporation Types of business entity Law