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On January 1, 2012 the Accounts Receivable and the Allowance for Doubtful Accoun
On January 1, 2012 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $30,000 and $500, respectively. During the year the company reported $75,000…
On January 1, 2012, Albert invested $1,000 at 6 percent interest per year for th
On January 1, 2012, Albert invested $1,000 at 6 percent interest per year for three years. The CPI (times 100) on January 1, 2012, stood at 100. On January 1, 2013, the CPI was 10…
On January 1, 2012, Aronsen Company acquired 75 percent of Siedel Company\'s out
On January 1, 2012, Aronsen Company acquired 75 percent of Siedel Company's outstanding shares. Siedel had a net book value on that date of $520,000: common stock ($10 par value) …
On January 1, 2012, Aronsen Company acquired 75 percent of Siedel Company’s outs
On January 1, 2012, Aronsen Company acquired 75 percent of Siedel Company’s outstanding shares. Siedel had a net book value on that date of $520,000: common stock ($10 par value) …
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company\'s outsta
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company's outstanding voting stock for $500,000. Birch reported a $490,000 book value and the fair value of the nonc…
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstan
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstanding voting stock for $504,000. Birch reported a $510,000 book value and the fair value of the nonc…
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstan
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstanding voting stock for $504,000. Birch reported a $510,000 book value and the fair value of the nonc…
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstan
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstanding voting stock for $468,000. Birch reported a $450,000 book value and the fair value of the nonc…
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstan
On January 1, 2012, Aspen Company acquired 80 percent of Birch Company’s outstanding voting stock for $452,000. Birch reported a $505,000 book value and the fair value of the nonc…
On January 1, 2012, Bailey Industries had stock outstanding as follows. 6% Cumul
On January 1, 2012, Bailey Industries had stock outstanding as follows. 6% Cumulative preferred stock, $107 par value, issued and outstanding 10,400 shares $1,112,800 Common st…
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acqui
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 278,4…
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acqui
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 276,0…
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acqui
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 174,0…
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acqui
On January 1, 2012, Bailey Industries had stock outstanding as follows. To acquire the net assets of three smaller companies, Bailey authorized the issuance of an additional 204,0…
On January 1, 2012, Barwood Corporation granted 5,460 options to executives. Eac
On January 1, 2012, Barwood Corporation granted 5,460 options to executives. Each option entitles the holder to purchase one share of Barwood's $5 par value common stock at $50 pe…
On January 1, 2012, Benson Company purchased a machine for $1,200,000 and deprec
On January 1, 2012, Benson Company purchased a machine for $1,200,000 and depreciated it by the straight-line method with an estimated list of ten years and a salvage value of $10…
On January 1, 2012, Berger Corporation paid 800,000 to purchase 40% of the outst
On January 1, 2012, Berger Corporation paid 800,000 to purchase 40% of the outstanding stock of Oakley Company. Oakley Company reported net income of $200,00 for the year ending D…
On January 1, 2012, Chang Corp. had 518,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 518,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. February 1 I…
On January 1, 2012, Chang Corp. had 518,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 518,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. February 1 I…
On January 1, 2012, Chang Corp. had 528,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 528,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. February 1 I…
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. A. Determine…
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. A. Determine…
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding.
On January 1, 2012, Chang Corp. had 530,000 shares of common stock outstanding. During 2012, it had the following transactions that affected the Common Stock account. A. Determine…
On January 1, 2012, Cher Corporation had 60,000 shares of $1 par value common st
On January 1, 2012, Cher Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar 1 Issued 25,0…
On January 1, 2012, Corgan Company acquired 70 percent of the outstanding voting
On January 1, 2012, Corgan Company acquired 70 percent of the outstanding voting stock of Smashing, Inc., for a total of $1,435,000 in cash and other consideration. At the acquisi…
On January 1, 2012, Cornell Corporation had these stockholders’ equity accounts.
On January 1, 2012, Cornell Corporation had these stockholders’ equity accounts. During the year, the following transactions occurred. Apr. 15 Declared a 10% stock dividend to sto…
On January 1, 2012, Corporation A issued $18,000,000 of 10% ten-year bonds at 10
On January 1, 2012, Corporation A issued $18,000,000 of 10% ten-year bonds at 103. The bonds are callable at the option of Corporation A at 105. Corporation A has recorded amortiz…
On January 1, 2012, Cubs, Inc. engaged in a lease agreement with Dodgers Manufac
On January 1, 2012, Cubs, Inc. engaged in a lease agreement with Dodgers Manufacturing for the use of equipment with an estimated economic life of five years. The term of the leas…
On January 1, 2012, Dawson, Incorporated, paid $100,000 for a 30% interest in Sa
On January 1, 2012, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. This investee had assets with a book value of $550,000 and liabilities of $300,000…
On January 1, 2012, Fei Corp. issued a 3-year, 5% coupon, $100,000 face value bo
On January 1, 2012, Fei Corp. issued a 3-year, 5% coupon, $100,000 face value bond. The bond was priced at an effective interest rate of 8%, yielding proceeds of $92,137. This is …
On January 1, 2012, Garr Company purchased 5,000 shares of Cey company stock for
On January 1, 2012, Garr Company purchased 5,000 shares of Cey company stock for $300,000. Garr investment represents 30 percent of the total outstanding shares of Cey. During 201…
On January 1, 2012, Hogan Co. developed a patent for $100,000 and purchased a pa
On January 1, 2012, Hogan Co. developed a patent for $100,000 and purchased a patent for $300,000. The patents are deemed to have a 10 year life. What is the amount of amortizatio…
On January 1, 2012, Jack & Co. paid $15,000 cash for a one-year lease of a build
On January 1, 2012, Jack & Co. paid $15,000 cash for a one-year lease of a building and $1,800 cash for a one-year insurance policy both beginning on January 1. The company pu…
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,00
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,000. Sales tax was an additional 6%, and the company spent $4,000 to install the machinery. After t…
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,00
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,000. Sales tax was an additional 6%, and the company spent $4,000 to install the machinery. After t…
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,00
On January 1, 2012, Jackson Company purchased factory equipment priced at $55,000. Sales tax was an additional 6%, and the company spent $4,000 to install the machinery. After t…
On January 1, 2012, Jessica owns 1.000 shares of Sada Company stock. Sada will p
On January 1, 2012, Jessica owns 1.000 shares of Sada Company stock. Sada will pay a dividend of S64.00 per share on December 31, 2012, followed by a final liquidating dividend of…
On January 1, 2012, John Doe Enterprises (JDE) acquired a 55% interest in Bubba
On January 1, 2012, John Doe Enterprises (JDE) acquired a 55% interest in Bubba Manufacturing, Inc. (BMI). JDE paid for the transaction with $3 million cash and 500,000 shares of …
On January 1, 2012, Keller Company purchased and installed a telephone system at
On January 1, 2012, Keller Company purchased and installed a telephone system at a cost of $20,000. The equipment was expected to last five years with a salvage value of $3,000. O…
On January 1, 2012, Keller Company purchased and installed a telephone system at
On January 1, 2012, Keller Company purchased and installed a telephone system at a cost of $20,000. The equipment was expected to last five years with a salvage value of $3,000. O…
On January 1, 2012, Kloppenberg Company had Accounts Receivable $139,000, Notes
On January 1, 2012, Kloppenberg Company had Accounts Receivable $139,000, Notes Receivable $25,000, and Allowance for Doubtful Accounts $13,200. The note receivable is from Sara R…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 60,000 shares issued and outstanding) 1,200,000 Paid-in Capit…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 55,000 shares issued and outstanding) $1,320,000 Paid-in Capi…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 55,000 shares issued and outstanding) $1,320,000 Paid-in Capi…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 55,000 shares issued and outstanding) 51,320,000 Paid-in Capi…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 55,000 shares issued and outstanding) 51,320,000 Paid-in Capi…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000, Paid-in Cap…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000, Paid-in Cap…
On January 1, 2012, Kristen Corporation had the following stockholders\' equity
On January 1, 2012, Kristen Corporation had the following stockholders' equity accounts. Common stock ($20 par value, 60,000 shares issued and outstanding) $1,200,000, Paid-in Cap…
On January 1, 2012, Legoria Co. grants options that permit key executives to acq
On January 1, 2012, Legoria Co. grants options that permit key executives to acquire 10 million of the company’s $1 par common stock within the next eight years, but not before De…