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Blossom Company of Emporia, Kansas, spreads herbicides and applies liquid fertil

Blossom Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company's Cash account per its general ledger showed a…

Blossom Company owns a trade name that was purchased in an acquisition of McClel

Blossom Company owns a trade name that was purchased in an acquisition of McClellan Company. The trade name has a book value of $ 3,500,000, but according to GAAP, it is assessed …

Blossom Company purchases a patent for $352,000 on January 2, 2019. Its estimate

Blossom Company purchases a patent for $352,000 on January 2, 2019. Its estimated useful life is 10 years. Prepare the journal entry to record amortization expense for the first y…

Blossom Company purchases equipment on January 1, Year 1, at a cost of $250,000.

Blossom Company purchases equipment on January 1, Year 1, at a cost of $250,000. The asset is expected to have a service life of 6 years and a salvage value of $20,000 Compute the…

Blossom Company reported the following income statement data for the years ended

Blossom Company reported the following income statement data for the years ended December 31: Sales Cost of goods sold Gross profit 2017 $545,000 460,000 $85,000 2016 $500,000 460…

Blossom Company sells 10% bonds having a maturity value of $1,300,000 for $1,206

Blossom Company sells 10% bonds having a maturity value of $1,300,000 for $1,206,280. The bonds are dated January 1, 2017, and mature January 1, 2022, Interest is payable annually…

Blossom Company uses special plastic wrapping equipment in its shipping business

Blossom Company uses special plastic wrapping equipment in its shipping business. The equipment was purchased in January 2016 for $4,800,000 and had an estimated useful life of 8 …

Blossom Corporation acquired new equipment at a cost of $110,000 plus 6% provinc

Blossom Corporation acquired new equipment at a cost of $110,000 plus 6% provincial sales tax and 6% GST. (GST is a recoverable tax.) The company paid $1,980 to transport the equi…

Blossom Corporation had 120,000 common shares outstanding on December 31, 2016.

Blossom Corporation had 120,000 common shares outstanding on December 31, 2016. During 2017, the company issued 14,500 shares on March 1, retired 4,100 shares on July 1, issued a …

Blossom Corporation has two products in its ending inventory, each accounted for

Blossom Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for e…

Blossom Corporation is a machinery dealer whose shares trades on the TSX, and so

Blossom Corporation is a machinery dealer whose shares trades on the TSX, and so uses IFRS 16. Blossom leased a machine to Ernst Ltd. on January 1, 2017. The lease is for a six-ye…

Blossom Corporation made the following cash purchases of securities during 2017,

Blossom Corporation made the following cash purchases of securities during 2017, which is the first year in which Blossom invested in securities. 1. On January 15, purchased 10,24…

Blossom Corporation owns and manages a small 10-store shopping centre and classi

Blossom Corporation owns and manages a small 10-store shopping centre and classifies the shopping centre as an investment property. Blossom has a May 31 year end and initially rec…

Blossom Corporation owns and manages a small 10-store shopping centre and classi

Blossom Corporation owns and manages a small 10-store shopping centre and classifies the shopping centre as an investment property. Blossom has a May 31 year end and initially rec…

Blossom Corporation reported the following information (in thousands) at Decembe

Blossom Corporation reported the following information (in thousands) at December 31, 2018 Long-term investments Land Buildings Accumulated depreciation-buildings Equipment 2018 2…

Blossom Corporation\'s trial balance at December 31, 2020, is presented below. A

Blossom Corporation's trial balance at December 31, 2020, is presented below. All 2020 tra recorded except for the items described below. actions have been Debit Credit Cash Accou…

Blossom Corporation\'s trial balance at December 31, 2020, is presented below. A

Blossom Corporation's trial balance at December 31, 2020, is presented below. All 2020 tra recorded except for the items described below. actions have been Debit Credit Cash Accou…

Blossom Cosmetics Co. purchased machinery on December 31, 2016, paying $48,000 d

Blossom Cosmetics Co. purchased machinery on December 31, 2016, paying $48,000 down and agreeing to pay the balance in four equal installments of $47,200 payable each December 31.…

Blossom Enterprises engaged in the following activities during the year: Prepare

Blossom Enterprises engaged in the following activities during the year: Prepare the cash flows provided by financing activities section of Blossom Enterprises’ statement of cash …

Blossom Inc. has $3 million of 6% convertible bonds outstanding. Each $1,000 bon

Blossom Inc. has $3 million of 6% convertible bonds outstanding. Each $1,000 bond is convertible into 30 no par value common shares. The bonds pay interest on January 31 and July …

Blossom Inc. has $3 million of 6% convertible bonds outstanding. Each $1,000 bon

Blossom Inc. has $3 million of 6% convertible bonds outstanding. Each $1,000 bond is convertible into 30 no par value common shares. The bonds pay interest on January 31 and July …

Blossom Inc. issues 500 shares of $10 par value common stock and 100 shares of $

Blossom Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $118,000. (a) Prepare the journal entry for the iss…

Blossom Inc. loans money to John Kruk Corporation in the amount of $814,800. Blo

Blossom Inc. loans money to John Kruk Corporation in the amount of $814,800. Blossom accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and recei…

Blossom Inc. uses the retail inventory method to estimate ending inventory for i

Blossom Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The folloning data pertain to a single department for the month of…

Blossom Inc. wishes to accumulate $1,198,800 by December 31, 2027, to retire bon

Blossom Inc. wishes to accumulate $1,198,800 by December 31, 2027, to retire bonds outstanding. The company deposits $183,200 on December 31, 2017, which will earn interest at 10%…

Blossom Innovations, Inc. produces exercise and fitness gear. Two of its newer p

Blossom Innovations, Inc. produces exercise and fitness gear. Two of its newer products require a finishing process that can only be completed on machines that were recently purch…

Blossom Ltd. has these transactions related to intangible assets and goodwill in

Blossom Ltd. has these transactions related to intangible assets and goodwill in 2018, its first year of operations: Tested the intangible assets for impairment. Recoverable amoun…

Blossom Medical manufactures hospital beds and other institutional furniture. Th

Blossom Medical manufactures hospital beds and other institutional furniture. The company’s comparative balance sheet and income statement for 2015 and 2016 follow. Calculate the …

Blossom Medical manufactures hospital beds and other institutional furniture. Th

Blossom Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. Blossom Medica…

Blossom Medical manufactures hospital beds and other institutional furniture. Th

Blossom Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. Blossom Medica…

Blossom Medical manufactures hospital beds and other institutional furniture. Th

Blossom Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2015 and 2016 follow. Blossom Medica…

Blossom Specialty Company, a division of Lost World Inc., manufactures three mod

Blossom Specialty Company, a division of Lost World Inc., manufactures three models of gear shift components for bicycles that are sold to bicycle manufacturers, retailers, and ca…

Blossom Supply Ltd. is a newly formed public corporation that incurred the follo

Blossom Supply Ltd. is a newly formed public corporation that incurred the following costs related to land, buildings, and machinery: (a) Determine the amounts that should be incl…

Blossom Water Co. is a leading producer of greenhouse irrigation systems. Curren

Blossom Water Co. is a leading producer of greenhouse irrigation systems. Currently, the company manufactures the timer unit used in each of its systems. Based on an annual produc…

Blossom Water Co. is a leading producer of greenhouse irrigation systems. Curren

Blossom Water Co. is a leading producer of greenhouse irrigation systems. Currently, the company manufactures the timer unit used in each of its systems. Based on an annual produc…

Blossom, Inc. prepared the following master budget items for July 34,000 units P

Blossom, Inc. prepared the following master budget items for July 34,000 units Production and sales Variable manufacturing costs: Direct materials Direct labor Variable manufactur…

Blossom, Inc. prepared the following master budget items for July Production and

Blossom, Inc. prepared the following master budget items for July Production and sales Variable manufacturing costs 30,000 units Direct materials Direct labor Variable manufacturi…

Blossom, Inc. prepared the following master budget items for July: Blossom, Inc.

Blossom, Inc. prepared the following master budget items for July: Blossom, Inc. prepared the following master budget items for July: 38,000 units Production and sales Variable ma…

Blossom, Inc. prepared the following master budget items for July: Production an

Blossom, Inc. prepared the following master budget items for July: Production and sales 36,000 units Variable manufacturing costs: Direct materials $ 36,000 Dire…

Blossom, Inc. prepared the following master budget items for July: Production an

Blossom, Inc. prepared the following master budget items for July: Production and sales Variable manufacturing costs: 22,000 units Direct materials Direct labor Variable manufactu…

Blossom, Inc. prepared the following mastor budoet items for July Production and

Blossom, Inc. prepared the following mastor budoet items for July Production and sales Variable manufacturing costs: 20,000 units Direct materials Direct labor Variable manufactur…