Brief Exercise 11.1 Alpha Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 10) 100‚000 Additional paid-in capital (10‚000 * 3) 30‚000 Total paid-in capital 130‚000 Retained Earnings 75‚000 Total Stockholder Equity 205‚000 Brief Exercise 11.2 Beta Company Stockholders Equity section of the Balance Sheet Issued and outstanding common stock (10‚000 * 25) 250‚000 Issued and outstanding preferred stock (10‚000 * 100) 100
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effects of prepayments and adjustments resulting from defects in eligibility of the transferred receivables. (FASB ASC 860-10-20) 3) Collateral: “Personal or real property in which a security interest has been given” (FASB ASC 860-10-20). 4) Transferee: “An entity that receives a financial asset‚ an interest in a financial asset‚ or a group of financial assets from a transferor” (FASB ASC 860-10-20). 5) Transferor: “An entity that transfers a financial asset‚ an interest in a financial
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ACC 291 Week 3 Individual Study Guide Accounting Problems - www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-291-week-3-individual-assignment-accounting-problems-7/ Instantly Download! Get Better Grades in Less Time! 100% Satisfaction Guarantee DESCRIPTION FOR THIS STUDY GUIDE: TUTORIAL: Includes solutions to accounting problems. Individual Assignment: Accounting Problems QUESTION 1 Don Walls’s gross earnings for the week were $1‚780‚ his
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(classified as available-for-sale) costing $121‚000 were sold for $155‚000. 2. The company paid a cash dividend on February 1‚ 2011. 3. Accounts receivable of $16‚200 and $19‚400 were considered uncollectible and written off in 2011 and 2010‚ respectively. 4. Major repairs of $33‚000 to the equipment were debited to the Accumulated Depreciation account during the year. No assets were retired during 2011. 5. The wholly owned subsidiary reported a net loss for the year of $20‚000. The loss was recorded by
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2012. An impairment loss is the amount by which the carrying amount of an asset exceeds its recoverable amount. The carrying amount of Ida’s building is $4‚500‚000‚ and in order to calculate the impairment loss‚ its recoverable amount is required. 4. A. After the impairment testing‚ goodwill associated with the Spanish operations impairs under GAAP as of 12/31/2010. The impairment loss is $200‚000. Under U.S.GAAP‚ goodwill impairment test is taken annually‚ or when there is impairment indicator
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loss of $66‚046 resulting from the write-off of some obsolete equipment. The equipment had not yet been disposed of. 3. Net income included $59‚610 from Amerbran’s investment in a subsidiary; none of this income had been received in cash. 4. The year-end balance in Deferred Income Taxes was $17‚548 lower than it was at the start of the year. 5. New property‚ plant‚ and equipment purchases totaled $260‚075‚ all paid for with cash. Disposals of fixed assets generated $33‚162 cash proceeds
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Statement of Purpose We know education‚ today‚ is considered as a key to success. Every profession and the jobs require both the practical and theoretical knowledge. With this growing importance of education and knowledge‚ it has become very important for every individual especially students to compete in every step of life. As I have completed my Higher Secondary Education in Nepal with good marks. I have always wanted to be a businessman from my early childhood. I have realised the fact that
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The Bear Minimum Case Summary: Big Bear Power is a public utility with a strong financial position for past several years. The company is in compliance with all its debt covenants because of its positive cash flow. Big Bear leased combustion turbine from Goliath Co. The lease term is non-cancelable for ten years. The lease was signed on December 15‚ 2004‚ but the lessee’s right to use the turbine starts on January 1‚ 2005. Issues and Facts There are three specific provisions associated with the
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inclusive (i.e.‚ topics 1 through 8)‚ with more emphasis on topics 3 through 8. It will have both problem-solving and essay-type questions. It is not going to be an easy exam‚ so you will not waste time studying for it. 4. I suggest that you prepare for the exam by reading my lecture notes and the textbook. Also‚ be sure that you are comfortable with the homework problems‚ in-class exercises‚ problem sets‚ and practice final exams. I personally do not think that it will be helpful to do additional
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