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At December 31, 2015, Albrecht Corporation had outstanding 293,000 shares of com

At December 31, 2015, Albrecht Corporation had outstanding 293,000 shares of common stock and 8,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On M…

At December 31, 2015, Albrecht Corporation had outstanding 328,000 shares of com

At December 31, 2015, Albrecht Corporation had outstanding 328,000 shares of common stock and 14,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On …

At December 31, 2015, Albrecht Corporation had outstanding 348,000 shares of com

At December 31, 2015, Albrecht Corporation had outstanding 348,000 shares of common stock and 18,000 shares of 9.5%, $100 par value cumulative, nonconvertible preferred stock. On …

At December 31, 2015, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:      Depreciation is computed to the nearest month…

At December 31, 2015, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:      Depreciation is computed to the nearest month…

At December 31, 2015, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:      Depreciation is computed to the nearest month…

At December 31, 2015, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:      Depreciation is computed to the nearest month…

At December 31, 2015, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2015, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and …

At December 31, 2015, Destin Sports Equipment had 200,000 common shares issued a

At December 31, 2015, Destin Sports Equipment had 200,000 common shares issued and outstanding. On May 31, 2016, Destin issued a 15% stock dividend. Fully vested, incentive stock …

At December 31, 2015, EarthWear has $5,890,000 in a liability account labeled “R

At December 31, 2015, EarthWear has $5,890,000 in a liability account labeled “Reserve for returns.” The footnotes to the financial statements contain the following policy: “At th…

At December 31, 2015, Ethan Company reports the following results for its calend

At December 31, 2015, Ethan Company reports the following results for its calendar-year. Cash sales $ 2,103,140 Credit sales 3,316,000 In addition, its unadjusted trial balance in…

At December 31, 2015, Garland Avenue Company had $1,000,000 of short-term debt i

At December 31, 2015, Garland Avenue Company had $1,000,000 of short-term debt in the form of notes payable due February 1, 2016. On January 28. 2016. the company issued 30.000 sh…

At December 31, 2015, Marshall Corporation was indebted to Community Bank under

At December 31, 2015, Marshall Corporation was indebted to Community Bank under a $3,000,000, 8% unsecured note. The note was issued at face value on December 31, 2012, and had a …

At December 31, 2015, the Barack Obama Company had 600,000 shares of common stoc

At December 31, 2015, the Barack Obama Company had 600,000 shares of common stock outstanding. Obama sold 40,000 shares on March 31 and reacquired 60,000 shares on September 30. N…

At December 31, 2015, the available-for-sale securities for Storrer, Inc. are as

At December 31, 2015, the available-for-sale securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Prepare the adjusting entry a…

At December 31, 2015, the end of the first year of operations at Yoste Inc., the

At December 31, 2015, the end of the first year of operations at Yoste Inc., the firm's accountant neglected to accrue payroll taxes of $28,700 that were applicable to payrolls fo…

At December 31, 2015, the trading securities for Storrer, Inc. are as follows. S

At December 31, 2015, the trading securities for Storrer, Inc. are as follows. Security Cost Fair Value A $17,400 $16,200 B 12,300 13,800 C 23,500 19,200 $53,200 $49,200 Prepare t…

At December 31, 2016, Acme Inc. had the following deferred tax balances: Deferre

At December 31, 2016, Acme Inc. had the following deferred tax balances: Deferred tax liability $75,000 Deferred tax asset 50,000 Valuation allowance 20,000 These deferred tax bal…

At December 31, 2016, Blossom Corporation had the following stock outstanding 10

At December 31, 2016, Blossom Corporation had the following stock outstanding 10% cumulative preferred stock, 100 par, 108,636 shares $10,863,600 Common stock, $5 par, 4,075,400 s…

At December 31, 2016, Cordova Leather’s liabilities include the following: 1 $15

At December 31, 2016, Cordova Leather’s liabilities include the following: 1 $15 million of noncallable 9% notes were issued for $15 million on August 31, 1994. The notes mature o…

At December 31, 2016, Finzelberg Company had a credit balance of $19,300 in Allo

At December 31, 2016, Finzelberg Company had a credit balance of $19,300 in Allowance for Doubtful Accounts. During 2017, Finzelberg wrote off accounts totaling $11,000. One of th…

At December 31, 2016, Hansen Corporation had 48,000 shares of common stock and 5

At December 31, 2016, Hansen Corporation had 48,000 shares of common stock and 5,400 shares of 8%, $100 par cumulative preferred stock outstanding. No dividends were declared or p…

At December 31, 2016, Hull-Meyers Corp. had the following investments that were

At December 31, 2016, Hull-Meyers Corp. had the following investments that were purchased during 2016, its first year of operations: At December 31, 2016, Hull-Meyers Corp. had th…

At December 31, 2016, Larkspur Company had a net deferred tax liability of $369,

At December 31, 2016, Larkspur Company had a net deferred tax liability of $369,000. An explanation of the items that compose this balance is as follows. In analyzing the temporar…

At December 31, 2016, Larkspur Company had a net deferred tax liability of $369,

At December 31, 2016, Larkspur Company had a net deferred tax liability of $369,000. An explanation of the items that compose this balance is as follows. In analyzing the temporar…

At December 31, 2016, Morrison Company had 700 shares of common stock outstandin

At December 31, 2016, Morrison Company had 700 shares of common stock outstanding. On September 1, 2017, an additional 300 shares of common stock were issued. In addition, Morriso…

At December 31, 2016, Nash Corporation reported current assets of $389,780 and c

At December 31, 2016, Nash Corporation reported current assets of $389,780 and current liabilities of $189,600. The following items may have been recorded incorrectly. 1. Goods pu…

At December 31, 2016, Ozuna Inc. had the following deferred tax balances: Deferr

At December 31, 2016, Ozuna Inc. had the following deferred tax balances:             Deferred tax liability – noncurrent                  $100,000             Deferred tax asset …

At December 31, 2016, Pam Corporation owes Sun $20,000 on accounts payable. (All

At December 31, 2016, Pam Corporation owes Sun $20,000 on accounts payable. (All amounts are in thousands.) 1132 On December 31, 2016, Pam Corporation purchased 80 percent of the …

At December 31, 2016, Pronghorn Corporation reported current assets of $343,980

At December 31, 2016, Pronghorn Corporation reported current assets of $343,980 and current liabilities of $196,600. The following items may have been recorded incorrectly. Exerci…

At December 31, 2016, Sage Corporation had the following stock outstanding. 10%

At December 31, 2016, Sage Corporation had the following stock outstanding. 10% cumulative preferred stock, $109 par, 107,918 shares $10,791,800 Common stock, $5 par, 4,099,360 sh…

At December 31, 2016, Sage Corporation had the following stock outstanding. 10%

At December 31, 2016, Sage Corporation had the following stock outstanding. 10% cumulative preferred stock, $109 par, 107,918 shares $10,791,800 Common stock, $5 par, 4,099,360 sh…

At December 31, 2016, Shamrock Company had a net deferred tax liability of $377,

At December 31, 2016, Shamrock Company had a net deferred tax liability of $377,600. An explanation of the items that compose this balance is as follows. (53,200 ) In analyzing th…

At December 31, 2016, Skysong Corporation reported current assets of $358,170 an

At December 31, 2016, Skysong Corporation reported current assets of $358,170 and current liabilities of $190,300. The following items may have been recorded incorrectly. At Decem…

At December 31, 2016, Skysong Corporation reported current assets of $358,170 an

At December 31, 2016, Skysong Corporation reported current assets of $358,170 and current liabilities of $190,300. The following items may have been recorded incorrectly. Secure h…

At December 31, 2016, Stacy McGill Corporation reported current assets of $370,0

At December 31, 2016, Stacy McGill Corporation reported current assets of $370,000 and current liabilities of $200,000. The following items may have been recorded incorrectly. 1. …

At December 31, 2016, certain accounts included in the property, plant, and equi

At December 31, 2016, certain accounts included in the property, plant, and equipment section of Vaughn Company’s balance sheet had the following balances. During 2017, the follow…

At December 31, 2016, the accounting records of Hill Pool, Co. reflected the fol

At December 31, 2016, the accounting records of Hill Pool, Co. reflected the following: Accounts Payable                        $ 10,100                                    Account…

At December 31, 2016, the financial statements of Hollingsworth Industries inclu

At December 31, 2016, the financial statements of Hollingsworth Industries included the following: Net income for 2016 $560 million Bonds payable, 10%, convertible into 36 million…

At December 31, 2016, the investments in securities available-for-sale of Beale

At December 31, 2016, the investments in securities available-for-sale of Beale Developments were reported at $98 million:      During 2017, Beale sold its investment in Schwab Ph…

At December 31, 2017 Blossom Company inventory records indicated a balance of $6

At December 31, 2017 Blossom Company inventory records indicated a balance of $654000. Upon further investigation it was determined that this amount included the following: ? $130…

At December 31, 2017 Mohling Company’s inventory records indicated a balance of

At December 31, 2017 Mohling Company’s inventory records indicated a balance of $632,000. Upon further investigation it was determined that this amount included the following: - $…

At December 31, 2017 and 2016, respectively, Tyler Industries reported land, bui

At December 31, 2017 and 2016, respectively, Tyler Industries reported land, buildings, and equipment totaling $5,655,000 and $2,152,000 along with Accumulated Depreciation of $1,…

At December 31, 2017, Ayayai Corporation reported the following plant assets. 5,

At December 31, 2017, Ayayai Corporation reported the following plant assets. 5,238,000 Land Buildings Less: Accumulated depreciation- buildings Equipment Less: Accumulated deprec…

At December 31, 2017, Blue Spruce Inc. is involved in a lawsuit. Under existing

At December 31, 2017, Blue Spruce Inc. is involved in a lawsuit. Under existing standards in IAS 37, prepare the December 31 entry assuming it is probable (and very likely) that B…

At December 31, 2017, Bren Co. has the following deferred income tax items: • A

At December 31, 2017, Bren Co. has the following deferred income tax items: • A deferred income tax liability of $15,000 related to a non-current asset • A deferred income tax ass…

At December 31, 2017, Bren Co. has the following deferred income tax items: • A

At December 31, 2017, Bren Co. has the following deferred income tax items: • A deferred income tax liability of $15,000 related to a non-current asset • A deferred income tax ass…

At December 31, 2017, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows Accumulated Depreciation Category Land Buildings Ma…

At December 31, 2017, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and …

At December 31, 2017, Cord Company\'s plant asset and accumulated depreciation a

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Land Buildings Machinery and equipment Au…