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Brief Exercise 10-15 Shamrock Corporation owns machinery that cost $24,000 when

Brief Exercise 10-15 Shamrock Corporation owns machinery that cost $24,000 when purchased on July 1, 2014. Depreciation has been recorded at a rate of $2,880 per year, resulting i…

Brief Exercise 10-16 Blossom Company issues $4.30 million, 10-year, 76 bonds at

Brief Exercise 10-16 Blossom Company issues $4.30 million, 10-year, 76 bonds at 96, with interest payable on December 31. The straight-Jine method is used to amortize bond discoun…

Brief Exercise 10-16 Carla Vista Co. issues $4.00 million, 10-year 8% bonds at 9

Brief Exercise 10-16 Carla Vista Co. issues $4.00 million, 10-year 8% bonds at 99, with interest payable on December 31 The straight line method s used to amortize on discount. Pr…

Brief Exercise 10-16 Cullumber Comoary issues S2.30 milion, 10year, 6% bonds at

Brief Exercise 10-16 Cullumber Comoary issues S2.30 milion, 10year, 6% bonds at 98, with interest payable on December 31. The straight-line method is used to amortize bond discoun…

Brief Exercise 10-16 Cullumber Company issues $2.30 million, 10-year 6% bonds at

Brief Exercise 10-16 Cullumber Company issues $2.30 million, 10-year 6% bonds at 98, with interest payable on December 3. The straight ne method s used to amortize bond discount Y…

Brief Exercise 10-16 Sandhill Co. issues $4.10 million, 20-year, 8% bonds at 97,

Brief Exercise 10-16 Sandhill Co. issues $4.10 million, 20-year, 8% bonds at 97, with interest payable on December 31, The straight-line method is used to amortize bond discount. …

Brief Exercise 10-17 Marin Inc. issues $5.4 million, 10-year, 8% bonds at 101, w

Brief Exercise 10-17 Marin Inc. issues $5.4 million, 10-year, 8% bonds at 101, with interest payable on January 1 . The straight-line method is used to amortize bond premium. Your…

Brief Exercise 10-17 Presented here are liability items for Shamrock, Inc. at De

Brief Exercise 10-17 Presented here are liability items for Shamrock, Inc. at December 31, 2019. SHAMROCK, INC. Balance Sheet (Partial) $204,100 FICA taxes payable$10,140 52,000 A…

Brief Exercise 10-17 Shamrock, Inc. issues $3.5 million, 10-year, 8% bonds at 10

Brief Exercise 10-17 Shamrock, Inc. issues $3.5 million, 10-year, 8% bonds at 104 with interest payable on January 1. The straight line method s used to amortize bond premium Prep…

Brief Exercise 10-18 Suppose the 2019 adidas financial statements contain the fo

Brief Exercise 10-18 Suppose the 2019 adidas financial statements contain the following selected data (in millions) Current assets Total assets Current liabilities Total liabiliti…

Brief Exercise 10-19 Marin Inc. issues a $630,000, 10%, 10-year mortgage note on

Brief Exercise 10-19 Marin Inc. issues a $630,000, 10%, 10-year mortgage note on December The terms provide for annual installment payments of $102,530. Prepare the entry to recor…

Brief Exercise 10-19 Tamarisk, Inc. issues a $690,000, 10%, 10-year mortgage not

Brief Exercise 10-19 Tamarisk, Inc. issues a $690,000, 10%, 10-year mortgage note on December 31, 2017, to obtain financing for a new building. The terms provide for annual instal…

Brief Exercise 10-2 Crane Company borrows $66,000 on July 1 from the bank by sig

Brief Exercise 10-2 Crane Company borrows $66,000 on July 1 from the bank by signing a $66,000, 896, 1-year note payable. Prepare the journal entry to record the proceeds of the n…

Brief Exercise 10-2 Ivanhoe Company borrows $91,200 on July 1 from the bank by s

Brief Exercise 10-2 Ivanhoe Company borrows $91,200 on July 1 from the bank by signing a $91,200, 796, 1-year note payable. Prepare the journal entry to record the proceeds of the…

Brief Exercise 10-2 Oriole Company borrows $65,600 on July 1 from the bank by si

Brief Exercise 10-2 Oriole Company borrows $65,600 on July 1 from the bank by signing a $65,600, 9% , one-year note payable (a) Prepare the journal entry to record the proceeds of…

Brief Exercise 10-2 Peralta Company borrows $60,000 on July 1 from the bank by s

Brief Exercise 10-2 Peralta Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable (a) Prepare the journal entry to record the proceeds o…

Brief Exercise 10-2 Sandhill Co. borrows $64,000 on July 1 from the bank by sign

Brief Exercise 10-2 Sandhill Co. borrows $64,000 on July 1 from the bank by signing a $64,000, 10%, one-year note payable. (a) (b) Prepare the journal entry to record the proceeds…

Brief Exercise 10-2 Sandhill Co. borrows $73,200 on July 1 from the bank by sign

Brief Exercise 10-2 Sandhill Co. borrows $73,200 on July 1 from the bank by signing a $73,200, 10%, 1-year note payable. Prepare the journal entry to record the proceeds of the no…

Brief Exercise 10-2 Your answer is partially correct. Try again. Blossom Company

Brief Exercise 10-2 Your answer is partially correct. Try again. Blossom Company borrows $60,000 on July 1 from the bank by signing a $60,000, 6%, 1-year note payable. (a) Prepare…

Brief Exercise 10-3 Bramble Company is constructing a building. Construction beg

Brief Exercise 10-3 Bramble Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,872,000 on March 1, $1,272,…

Brief Exercise 10-3 Crane Company is constructing a building. Construction began

Brief Exercise 10-3 Crane Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,896,000 on Mar and $3,094,220…

Brief Exercise 10-3 Greenspan Supply does not segregate sales and sales taxes at

Brief Exercise 10-3 Greenspan Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $8,400. All sales are subject to a 5% sales t…

Brief Exercise 10-3 Your answer is partially correct. Try again. Greenspan Suppl

Brief Exercise 10-3 Your answer is partially correct. Try again. Greenspan Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is …

Brief Exercise 10-3 Zerbe Consulting Inc.’s gross salaries for the biweekly peri

Brief Exercise 10-3 Zerbe Consulting Inc.’s gross salaries for the biweekly period ended August 24 were $13,600. Deductions included $756 for CPP, $256 for EI, and $5,921 for inco…

Brief Exercise 10-4 Bramble University sells 7,800 season basketball tickets at

Brief Exercise 10-4 Bramble University sells 7,800 season basketball tickets at $75 each for the entire 20-game home schedule Give the entry to record the sale of the season ticke…

Brief Exercise 10-4 Hanson Company is constructing a building. Construction bega

Brief Exercise 10-4 Hanson Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,028,000 on March 1, $1,272,0…

Brief Exercise 10-4 Hanson Company is constructing a building. Construction bega

Brief Exercise 10-4 Hanson Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000 on March 1, $1,200,0…

Brief Exercise 10-4 Larkspur Company is constructing a building. Construction be

Brief Exercise 10-4 Larkspur Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000 on March 1, $1,200…

Brief Exercise 10-4 Washburn University sells 5,400 season basketball tickets at

Brief Exercise 10-4 Washburn University sells 5,400 season basketball tickets at $48 each for its 20-game home schedule. (a) Give the entry to record the sale of the season ticket…

Brief Exercise 10-4 Your answer is partially correct. Try again. Bramble univers

Brief Exercise 10-4 Your answer is partially correct. Try again. Bramble university sells 3,500 season basketball tickets at 80 each for the entire 10-game home schedule. Give the…

Brief Exercise 10-5 Flounder Corporation purchased a truck by issuing an $107,20

Brief Exercise 10-5 Flounder Corporation purchased a truck by issuing an $107,200, 5-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations o…

Brief Exercise 10-5 Mangold Corporation purchased a truck by issuing an $112,000

Brief Exercise 10-5 Mangold Corporation purchased a truck by issuing an $112,000 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of …

Brief Exercise 10-6 Betsy Strand\'s regular hourly wage rate is $30, and she rec

Brief Exercise 10-6 Betsy Strand's regular hourly wage rate is $30, and she receives an hourly rate of $45 for work in excess of 40 hours. During a January pay period, Betsy works…

Brief Exercise 10-6 In the Assembly Department of Hannon Company, budgeted and a

Brief Exercise 10-6 In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2017 were as follows Budget Actual Indire…

Brief Exercise 10-6 Susan Braun?s regular hourly wage rate is $34, and she recei

Brief Exercise 10-6 Susan Braun?s regular hourly wage rate is $34, and she receives an hourly rate of $51 for work in excess of 40 hours. During a January pay period, Susan works …

Brief Exercise 10-7 Concord Company obtained land by issuing 2,100 shares of its

Brief Exercise 10-7 Concord Company obtained land by issuing 2,100 shares of its $13 par value common stock. The land was recently appraised at $94,570. The common stock is active…

Brief Exercise 10-7 Torres Company accumulates the following summary data for th

Brief Exercise 10-7 Torres Company accumulates the following summary data for the year ending December 31, 2017, for its Water Division, which it operates as a profit center: sale…

Brief Exercise 10-7 Torres Company accumulates the following summary data for th

Brief Exercise 10-7 Torres Company accumulates the following summary data for the year ending December 31, 2017, for its Water Division, which it operates as a profit center: sale…

Brief Exercise 10-8 Buffalo Corporation traded a used truck (cost $22,800, accum

Brief Exercise 10-8 Buffalo Corporation traded a used truck (cost $22,800, accumulated depreciation $20,520) for a small computer with a fair value of $3,762. Buffalo also paid $5…

Brief Exercise 10-8 Crane Corporation traded a used truck (cost $23,200, accumul

Brief Exercise 10-8 Crane Corporation traded a used truck (cost $23,200, accumulated depreciation $20,880) for a small computer with a fair value of $3,828. Crane also paid $580 i…

Brief Exercise 10-8 For the year ending December 31, 2017, Cobb Company accumula

Brief Exercise 10-8 For the year ending December 31, 2017, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contrib…

Brief Exercise 10-8 Grouper Corporation traded a used truck (cost $29,600, accum

Brief Exercise 10-8 Grouper Corporation traded a used truck (cost $29,600, accumulated depreciation $26,640) for a small computer with a fair value of $4,884. Grouper also paid $7…

Brief Exercise 10-8 Kingbird Corporation traded a used truck (cost $26,400, accu

Brief Exercise 10-8 Kingbird Corporation traded a used truck (cost $26,400, accumulated depreciation $23,760) for a small computer with a fair value of $4,356. Kingbird also paid …

Brief Exercise 10-8 Kingbird Corporation traded a used truck (cost $28,800, accu

Brief Exercise 10-8 Kingbird Corporation traded a used truck (cost $28,800, accumulated depreciation $25,920) for a small computer with a fair value of $4,752. Kingbird also paid …

Brief Exercise 10-8 Sweet Corporation traded a used truck (cost $26,800, accumul

Brief Exercise 10-8 Sweet Corporation traded a used truck (cost $26,800, accumulated depreciation $24,120) for a small computer with a fair value of $4,422. Sweet also paid $670 i…

Brief Exercise 10-9 Buffalo Corporation traded a used truck (cost $20,000, accum

Brief Exercise 10-9 Buffalo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,498. Buffalo also paid $530 in the trans…

Brief Exercise 10-9 Kingbird Corporation traded a used truck (cost $20,000, accu

Brief Exercise 10-9 Kingbird Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $4,092. Kingbird also paid $620 in the tra…

Brief Exercise 10-9 Nash Corporation traded a used truck (cost $20,000, accumula

Brief Exercise 10-9 Nash Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $4,224. Nash also paid $640 in the transaction…

Brief Exercise 10-9 Stellar Corporation traded a used truck (cost $20,000\' accu

Brief Exercise 10-9 Stellar Corporation traded a used truck (cost $20,000' accumulated depreciation s 18,000) for a small computer worth s3,828. Stellar also paid s 580 the transa…

Brief Exercise 109 Account Titles and Explanation Debit Credit Brief Exercise 10

Brief Exercise 109 Account Titles and Explanation Debit Credit Brief Exercise 109 Presented below is information related to Jones Department Stores, Inc. pension plan for 2015. Ac…