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On December 31, 2016, Metlock Corporation signed a 5-year, non-cancelable lease
On December 31, 2016, Metlock Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Metlock to make annual payments of $8,176 at the b…
On December 31, 2016, Milburn Inc., which uses IFRS as its reporting platform, h
On December 31, 2016, Milburn Inc., which uses IFRS as its reporting platform, had 200 million common shares and 3 million, S9, cumulative convertible preferred shares issued and …
On December 31, 2016, Paladium International purchased 100% of the outstanding c
On December 31, 2016, Paladium International purchased 100% of the outstanding common stock of Sennex Chemical inc.. Paladium paid $200,000 for the shares and determined that the …
On December 31, 2016, Robey Company accumulated the following information for 20
On December 31, 2016, Robey Company accumulated the following information for 2016 in regard to its defined benefit pension plan: Service cost $113,500 Interest cost on projected …
On December 31, 2016, Shamrock Inc. borrowed $3,780,000 at 13% payable annually
On December 31, 2016, Shamrock Inc. borrowed $3,780,000 at 13% payable annually to finance the construction of a new building. In 2017, the company made the following expenditures…
On December 31, 2016, TTT Company finished consultation services and accepted in
On December 31, 2016, TTT Company finished consultation services and accepted in exchange a promissory note with a face value of $800,000, a due date of December 31, 2019, and a s…
On December 31, 2016, Yard Art Landscaping leased a delivery truck from Branch M
On December 31, 2016, Yard Art Landscaping leased a delivery truck from Branch Motors. Branch paid $36,000 for the truck. Its retail value is $67,371. The lease agreement specifie…
On December 31, 2016, York Corp. sold a boiler. The following information was av
On December 31, 2016, York Corp. sold a boiler. The following information was available on that date Purchase price paid for boiler Date originally purchased Life 7 years. Origina…
On December 31, 2016, before preparing and recording adjusting entries, Quartend
On December 31, 2016, before preparing and recording adjusting entries, Quartend Corporation reported total assets of $114,763 and total liabilities of $50,970 prior to the follow…
On December 31, 2016, the end of the fiscal year, California Microtech Corporati
On December 31, 2016, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $17 million. The business segment qualifies…
On December 31, 2016, the end of the fiscal year, California Microtech Corporati
On December 31, 2016, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $17 million The business segment qualifies …
On December 31, 2016, when its Allowance for Doubtful Accounts had a credit bala
On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of S 1,500, Leeds Company estimates that 6% of its accounts receivable balance of $95,000 will …
On December 31, 2017 Dow Steel Corporation had 800,000 shares or convertible pre
On December 31, 2017 Dow Steel Corporation had 800,000 shares or convertible preferred stock issued and outstanding. Dow issued a 4% common st dividends of $600,000 and $89,000 to…
On December 31, 2017 Jackson Company had 100,000 shares of common stock outstand
On December 31, 2017 Jackson Company had 100,000 shares of common stock outstanding and 24,000 shares of 7%, $50 par cumulative preferred stock outstanding. On February 28. 2018, …
On December 31, 2017 Potter and Hogwarts had the following balance sheets Income
On December 31, 2017 Potter and Hogwarts had the following balance sheets Income statements Potter Hogwarts revenue 5,000,000 80,000 depreciation expense equip 100000 10000 Note: …
On December 31, 2017, Ainsworth, Inc., had 720 million shares of common stock ou
On December 31, 2017, Ainsworth, Inc., had 720 million shares of common stock outstanding. Thirty one million shares of 7%, $100 par value cumulative, nonconvertible preferred sto…
On December 31, 2017, American Bank enters into a debt restructuring agreement w
On December 31, 2017, American Bank enters into a debt restructuring agreement with Windsor Company, which is now experiencing financial trouble. The bank agrees to restructure a …
On December 31, 2017, American Bank enters into a debt restructuring agreement w
On December 31, 2017, American Bank enters into a debt restructuring agreement with Monty Company, which is now experiencing financial trouble. The bank agrees to restructure a 12…
On December 31, 2017, American Bank enters into a debt restructuring agreement w
On December 31, 2017, American Bank enters into a debt restructuring agreement with Windsor Company, which is now experiencing financial trouble. The bank agrees to restructure a …
On December 31, 2017, BBE issued 10,000 redeem- able and retractable preferred s
On December 31, 2017, BBE issued 10,000 redeem- able and retractable preferred shares at $50 per share, for tax planning purposes. The shares are redeem- able and retractable at a…
On December 31, 2017, Barnes Corp. exchanged 100 acres of land for a noninterest
On December 31, 2017, Barnes Corp. exchanged 100 acres of land for a noninterest-bearing 5-year note and $20,000 cash. The note is to be paid at the rate of $17,000 a year, starti…
On December 31, 2017, Barnes Corp. exchanged 100 acres of land for a noninterest
On December 31, 2017, Barnes Corp. exchanged 100 acres of land for a noninterest-bearing 5-year note and $20,000 cash. The note is to be paid at the rate of $17,000 a year, starti…
On December 31, 2017, Berclair Inc. had 200 million shares of common stock and 3
On December 31, 2017, Berclair Inc. had 200 million shares of common stock and 3 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1…
On December 31, 2017, Berclair Inc. had 300 million shares of common stock and 9
On December 31, 2017, Berclair Inc. had 300 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1…
On December 31, 2017, Berclair Inc. had 320 million shares of common stock and 5
On December 31, 2017, Berclair Inc. had 320 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1…
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 1
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 16 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March …
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 1
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 17 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March …
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 1
On December 31, 2017, Berclair Inc. had 600 million shares of common stock and 17 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March …
On December 31, 2017, Bonita Inc. rendered services to Beghun Corporation at an
On December 31, 2017, Bonita Inc. rendered services to Beghun Corporation at an agreed price of $107,016, accepting $41,400 down and agreeing to accept the balance in four equal i…
On December 31, 2017, Bruce Corporation had the following account balances relat
On December 31, 2017, 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, 2017, Cheyenne Company signed a $1,196,300 note to Ayayai Bank.
On December 31, 2017, Cheyenne Company signed a $1,196,300 note to Ayayai Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payabl…
On December 31, 2017, Concord Corp. had a $12,200,000, 7.0% fixed-rate note outs
On December 31, 2017, Concord Corp. had a $12,200,000, 7.0% fixed-rate note outstanding, payable in 2 years. It decides to enter into a 2-year swap with Chicago First Bank to conv…
On December 31, 2017, Corotel Company\'s year-end, the unadjusted trial balance
On December 31, 2017, Corotel Company's year-end, the unadjusted trial balance included the following items Account Debit Credit Accounts receivable Allowance for doubtful account…
On December 31, 2017, Culver Inc. has a machine with a book value of $1,165,600.
On December 31, 2017, Culver Inc. has a machine with a book value of $1,165,600. The original cost and related accumulated depreciation at this date are as follows. $1,612,000 446…
On December 31, 2017, Dallas Inc. provided consulting services to Uplem Company
On December 31, 2017, Dallas Inc. provided consulting services to Uplem Company at an agreed price of $356,630.79. Dallas accepted $75,000 down and agreed to accept the balance in…
On December 31, 2017, Day Company leased a new machine from Parr with the follow
On December 31, 2017, Day Company leased a new machine from Parr with the following pertinent information: 5 years $50,000 8 years 15% 11% The lease is not renewable, and the mach…
On December 31, 2017, Dieker Company sells equipment to Tabor Inc. for $125,000.
On December 31, 2017, Dieker Company sells equipment to Tabor Inc. for $125,000. Dieker includes a 1-year assurance warranty service with the sale of all its equipment. The custom…
On December 31, 2017, Dow Steel Corporation had 600,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 600,000 shares of common stock and 300,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow …
On December 31, 2017, Dow Steel Corporation had 610,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 610,000 shares of common stock and 31,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 620,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 620,000 shares of common stock and 32,000 shares of 10%, noncumulative, no con e title preferred stock issued and outstanding. Dow …
On December 31, 2017, Dow Steel Corporation had 630,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 630,000 shares of common stock and 33,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 640,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 640,000 shares of common stock and 34,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 640,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 640,000 shares of common stock and 34,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 650,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 650,000 shares of common stock and 35,000 shares of 9%, noncumulative nonconvertible preferred stock issued and outstanding. Dow is…
On December 31, 2017, Dow Steel Corporation had 670,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 670,000 shares of common stock and 37,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 670,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 670,000 shares of common stock and 37,000 shares of 7%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 680,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 680,000 shares of common stock and 38,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 690,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 690,000 shares of common stock and 39,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 720,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 720,000 shares of common stock and 42,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…
On December 31, 2017, Dow Steel Corporation had 720,000 shares of common stock a
On December 31, 2017, Dow Steel Corporation had 720,000 shares of common stock and 42,000 shares of 8%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow i…