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On December 31, 2015, Dow Steel Corporation had 770,000 shares of common stock a
On December 31, 2015, Dow Steel Corporation had 770,000 shares of common stock and 47,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2015, Dow Steel Corporation had 770,000 shares of common stock a
On December 31, 2015, Dow Steel Corporation had 770,000 shares of common stock and 47,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2015, Lang Corporation leased a ship from Fort Company for an ei
On December 31, 2015, Lang Corporation leased a ship from Fort Company for an eight-year period expiring December 30, 2023. Equal annual payments of $300,000 are due on December 3…
On December 31, 2015, Rebel Corporation\'s balance sheet reported the following.
On December 31, 2015, Rebel Corporation's balance sheet reported the following. During 2016, Rebel decided to discontinue accounting for share buybacks as treasury shares. Instead…
On December 31, 2015, Sunshine Company had $1,000,000 of short-term debt in the
On December 31, 2015, Sunshine Company had $1,000,000 of short-term debt in the form of notes payable due February 2, 2016. On January 21, 2016, the company issued 20,000 shares o…
On December 31, 2015, Sveva Inc. has total liabilities of $112,000 and total equ
On December 31, 2015, Sveva Inc. has total liabilities of $112,000 and total equity of $220,000. The company needs to raise additional funds through debt and equity. The company w…
On December 31, 2015, Valur Co. had the following available-for-sale investment
On December 31, 2015, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet: 1 Available-for-sale investments…
On December 31, 2015, Valur Co. had the following available-for-sale investment
On December 31, 2015, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet: 1 Available-for-sale investments…
On December 31, 2015, Warren Industries had 300 million shares of common stock a
On December 31, 2015, Warren Industries had 300 million shares of common stock and 2 million shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Wa…
On December 31, 2015, Warren Industries had 300 million shares of common stock m
On December 31, 2015, Warren Industries had 300 million shares of common stock million shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Warren i…
On December 31, 2015, Wintergreen, Inc., ssued $150,000 ot 7 percent, 10-year bo
On December 31, 2015, Wintergreen, Inc., ssued $150,000 ot 7 percent, 10-year bonds at a price of 93 25. Wintergreen received $139,875 when t issued the bonds (or $150,000 x.9325)…
On December 31, 2015, Wolfe-Bache Corporation failed to accrue office supplies e
On December 31, 2015, Wolfe-Bache Corporation failed to accrue office supplies expense of $1,300. In January 2016, when it received the bill from its supplier, Wolfe-Bache mad…
On December 31, 2015, interest of $500 is owed on a bank loan that will not be p
On December 31, 2015, interest of $500 is owed on a bank loan that will not be paid until June 30, 2016. What is the neessary adjusting journal entry on December 31, 2015? A. Debi…
On December 31, 2015, the Bennett Company had 115,000 shares of common stock iss
On December 31, 2015, the Bennett Company had 115,000 shares of common stock issued and outstanding. On July 1, 2016, the company sold 23,000 additional shares for cash. Bennett's…
On December 31, 2015, the Bennett Company had 115,000 shares of common stock iss
On December 31, 2015, the Bennett Company had 115,000 shares of common stock issued and outstanding. On July 1, 2016, the company sold 20,000 additional shares for cash. Bennett's…
On December 31, 2015, the board of directors is considering the distribution of
On December 31, 2015, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2013…
On December 31, 2015, the shareholders’ equity section of the statement of finan
On December 31, 2015, the shareholders’ equity section of the statement of financial position of R & B Corporation reflected the following: On February 1, 2016, the board of d…
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company\'s common s
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company's common shares on the open market in exchange for $17,500. On December 31, 2017, Akron, Inc., acquires an add…
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company\'s common s
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company's common shares on the open market in exchange for $17,400. On December 31, 2017, Akron, Inc., acquires an add…
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company\'s common s
On December 31, 2016, Akron, Inc. purchased 5 Percent of Zip Company's common shares on the open market in exchange for $17,500. On December 31, 2017, Akron, Inc., acquires an add…
On December 31, 2016, Akron, Inc. purchased 5% of Zip’s Company\'s common shares
On December 31, 2016, Akron, Inc. purchased 5% of Zip’s Company's common shares on the open market in exchange for $18,000. On December 31, 2017, Akron, Inc. acquires an additiona…
On December 31, 2016, Ashton Corporation performed forensic psychic consultation
On December 31, 2016, Ashton Corporation performed forensic psychic consultation services for the Edamame Private Detective Agency. Ashton was short of cash, and Ashton agreed to …
On December 31, 2016, Ashton Corporation performed forensic psychic consultation
On December 31, 2016, Ashton Corporation performed forensic psychic consultation services for the Edamame Private Detective Agency. Ashton was short of cash, and Ashton agreed to …
On December 31, 2016, Ashton Corporation performed forensic psychic consultation
On December 31, 2016, Ashton Corporation performed forensic psychic consultation services for the Edamame Private Detective Agency. Ashton was short of cash, and Ashton agreed to …
On December 31, 2016, Bruce Corporation had the following account balances relat
On December 31, 2016, Bruce Corporation had the following account balances related to credit sales and receivables prior to recording adjusting entries: Accounts receivable $168,0…
On December 31, 2016, Ditka Inc. had Retained Earnings of $268,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $268,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $169,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $269,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $269,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $170,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $270,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $270,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $171,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $274,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $274,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $175,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $275,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $275,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $176,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $276,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $276,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $177,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $276,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $276,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $177,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $278,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $278,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $179,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $279,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $279,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $180,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $184,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $184,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $283,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $184,100 an…
On December 31, 2016, Ditka Inc. had Retained Earnings of $286,800 before its cl
On December 31, 2016, Ditka Inc. had Retained Earnings of $286,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $187,100 an…
On December 31, 2016, Fett Corporation issued $980,000, 8%, 10-year bonds for $1
On December 31, 2016, Fett Corporation issued $980,000, 8%, 10-year bonds for $1,125,824 cash when the market rate of interest was 6%. The bonds pay interest semi-annually each Ju…
On December 31, 2016, Flint Inc. borrowed $3,540,000 at 13% payable annually to
On December 31, 2016, Flint Inc. borrowed $3,540,000 at 13% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures re…
On December 31, 2016, Green Company finished consultation services and accepted
On December 31, 2016, Green Company finished consultation services and accepted in exchange a promissory note with a face value of $550,000, a due date of December 31, 2019, and a…
On December 31, 2016, Information Inc. completed its third year of operations. A
On December 31, 2016, Information Inc. completed its third year of operations. Abdul Mukhtar is a student working part-time in the company’s business office while taking his first…
On December 31, 2016, Information Inc. completed its third year of operations. A
On December 31, 2016, Information Inc. completed its third year of operations. Abdul Mukhtar is a student working part-time in the company’s business office while taking his first…
On December 31, 2016, Interlink Communications issued 4% stated rate bonds with
On December 31, 2016, Interlink Communications issued 4% stated rate bonds with a face amount of $116 million. The bonds mature on December 31, 2046. Interest is payable annually …
On December 31, 2016, Interlink Communications issued 6% stated rate bonds with
On December 31, 2016, Interlink Communications issued 6% stated rate bonds with a face amount of S100 million. The bonds mature on December 31, 2046. Interest is payable annually …
On December 31, 2016, L Inc. had a $1,600,000 note payable outstanding, due July
On December 31, 2016, L Inc. had a $1,600,000 note payable outstanding, due July 31, 2017. L borrowed the money to finance construction of a new plant. L planned to refinance the …
On December 31, 2016, Main Inc. borrowed $3,000,000 at 12% payable annually to f
On December 31, 2016, Main Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures rel…
On December 31, 2016, Marin Inc. borrowed $3,900,000 at 12% payable annually to
On December 31, 2016, Marin Inc. borrowed $3,900,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures re…
On December 31, 2016, Marin Inc. borrowed $4,440,000 at 13% payable annually to
On December 31, 2016, Marin Inc. borrowed $4,440,000 at 13% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures re…
On December 31, 2016, Marin Inc. borrowed $4,500,000 at 12% payable annually to
On December 31, 2016, Marin Inc. borrowed $4,500,000 at 12% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures re…