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On January 1, 2015, the City of Verga leased a large truck for five years and ma
On January 1, 2015, the City of Verga leased a large truck for five years and made the initial annual payment of $26,500 immediately. The present value of these five payments base…
On January 1, 2015, the City of Verga leased a large truck for five years and ma
On January 1, 2015, the City of Verga leased a large truck for five years and made the initial annual payment of $26,500 immediately. The present value of these five payments base…
On January 1, 2015, the Moody Company entered into a transaction for 100% of the
On January 1, 2015, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-ter…
On January 1, 2015, the ledger of Accardo Company contains the following liabili
On January 1, 2015, the ledger of Accardo Company contains the following liability accounts. Accounts Payable $52,270 Sales Taxes Payable 8,250 Unearned Service Revenue 15,810 Dur…
On January 1, 2015, the ledger of Accardo Company contains the following liabili
On January 1, 2015, the ledger of Accardo Company contains the following liability accounts. Accounts Payable $52,810 Sales Taxes Payable 8,770 Unearned Service Revenue 16,470 Dur…
On January 1, 2015, when its $30 par value common stock was selling for $80 per
On January 1, 2015, when its $30 par value common stock was selling for $80 per share, a corporation issued $10 million of 10% convertible debentures due in 10 years. The conversi…
On January 1, 2015. Datalink Inc. issued $100.000,10%, 10-year bonds when the ma
On January 1, 2015. Datalink Inc. issued $100.000,10%, 10-year bonds when the market rate of interest was 3%. Interest is payable on June 30 and December 31.The following financia…
On January 1, 2016 Ashley farms least hey Baylor from Agrico company the lease r
On January 1, 2016 Ashley farms least hey Baylor from Agrico company the lease requires Ashley to make $3000 payments on January one of each year for five years beginning in 2016 …
On January 1, 2016 Gearty Corporation acquired 100% of Olinto Corporation. Geart
On January 1, 2016 Gearty Corporation acquired 100% of Olinto Corporation. Gearty Corp. paid $900,000 for the acquisition of all of Olinto’s stock. On the date of acquisition Olin…
On January 1, 2016 HGC Camera Store adopted the dollar-value LIFO retail invento
On January 1, 2016 HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail and cost indexes for 2016 and 2017 are as…
On January 1, 2016 Nick issued a $100,000 bond that matures in 20 years and pays
On January 1, 2016 Nick issued a $100,000 bond that matures in 20 years and pays 4% interest (stated or coupon rate) a year. (Payment date is December 31.) The market (yield) rate…
On January 1, 2016 Obama and Biden Companies had the following balance sheets: O
On January 1, 2016 Obama and Biden Companies had the following balance sheets: Obama Biden Journal Worksheet Consolidated cash 1,000,000 20,000 1,020,000 land 1,000,000 50,000 1,0…
On January 1, 2016 he $90,000 maturity walue bonds sold for face value Glosford
On January 1, 2016 he $90,000 maturity walue bonds sold for face value Glosford Corporation inends to hold the bonds unti maturity Joumalicze the transactions related to Glosfond …
On January 1, 2016 the Shadow Company began construction on a new building for i
On January 1, 2016 the Shadow Company began construction on a new building for its own use. The building was completed December 31, 2016. The Company borrowed $1,200,000 at 9% on …
On January 1, 2016 the Shadow Company began construction on a new building for i
On January 1, 2016 the Shadow Company began construction on a new building for its own use. The building was completed December 31, 2016. The Company borrowed $1,200,000 at 9% on …
On January 1, 2016, ABC Company adopted the dollar-value LIFO retail inventory m
On January 1, 2016, ABC Company adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2016 and 2017 are as fo…
On January 1, 2016, Adams-Meneke Corporation granted 60 million incentive stock
On January 1, 2016, Adams-Meneke Corporation granted 60 million incentive stock options to division managers, each permitting holders to purchase one share of the company’s $1 par…
On January 1, 2016, Adams-Meneke Corporation granted 60 million incentive stock
On January 1, 2016, Adams-Meneke Corporation granted 60 million incentive stock options to division managers, each permitting holders to purchase one share of the company’s $1 par…
On January 1, 2016, Agricultural Crodn Union (ACU) issued 8%, Read the resuireme
On January 1, 2016, Agricultural Crodn Union (ACU) issued 8%, Read the resuirements Requirement 1. irea market interest rate is 0% when ACU The 8% bonds issued when the market int…
On January 1, 2016, American Corporation purchased 30% of the outstanding voting
On January 1, 2016, American Corporation purchased 30% of the outstanding voting shares of Short Supplies common stock for $240,000 cash. On that date, Short's book value and fair…
On January 1, 2016, Aspen Company acquired 80 percent of Birch Company’s voting
On January 1, 2016, Aspen Company acquired 80 percent of Birch Company’s voting stock for $288,000. Birch reported a $300,000 book value, and the fair value of the noncontrolling …
On January 1, 2016, Avery Corp. purchased 25% of the voting common stock of Glen
On January 1, 2016, Avery Corp. purchased 25% of the voting common stock of Glenn Co., paying $2,750,000. Avery will use the equity method to account for this investment. At the t…
On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory meth
On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $280,000. An internally generat…
On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory meth
On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method The inventory value for its one inventory pool on this date was $320,000. An internally generate…
On January 1, 2016, Ayayai and Lois Company purchased 12% bonds having a maturit
On January 1, 2016, Ayayai and Lois Company purchased 12% bonds having a maturity value of $222,000 for $238,830.89. The bonds provide the bondholders with a 10% yield. They are d…
On January 1, 2016, Bacco Company had a balance of $76,100 in its Delivery Equip
On January 1, 2016, Bacco Company had a balance of $76,100 in its Delivery Equipment account. During 2016, Bacco purchased delivery equipment that cost $24,500. The balance in the…
On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The invent
On January 1, 2016, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $117,000. The 2016 ending inventory, valued at year-end costs, was $146,0…
On January 1, 2016, Ballieu Company leases specialty equipment with an economic
On January 1, 2016, Ballieu Company leases specialty equipment with an economic life of 8 years to Anderson Company. The lease contains the following terms and provisions: • The l…
On January 1, 2016, Ballieu Company leases specialty equipment with an economic
On January 1, 2016, Ballieu Company leases specialty equipment with an economic life of 8 years to Anderson Company. The lease contains the following terms and provisions : • The …
On January 1, 2016, Ballieu Company leases specialty equipment with an economic
On January 1, 2016, Ballieu Company leases specialty equipment with an economic life of 8 years to Anderson Company. The lease contains the following terms and provisions: The les…
On January 1, 2016, Ballieu Company leases specialty equipment with an economic
On January 1, 2016, Ballieu Company leases specialty equipment with an economic life of 8 years to Anderson Company. The lease contains the following terms and provisions: • The l…
On January 1, 2016, Beilich Enterprises bought 20% of the outstanding common sto
On January 1, 2016, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $750.0 million cash. Wolfe’s net income for the year ended Dec…
On January 1, 2016, Big Company spent $200,000 for a 20 percent interest in Litt
On January 1, 2016, Big Company spent $200,000 for a 20 percent interest in Little Company. There is no difference between the purchase price and the book value of the net assets …
On January 1, 2016, Bishop Company issued 10% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 10% bonds dated January 1, 2016, with a face amount of $19.5 million. The bonds mature in 2025 (10 years). For bonds of similar risk and …
On January 1, 2016, Bishop Company issued 10% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 10% bonds dated January 1, 2016, with a face amount of $19.5 million. The bonds mature in 2025 (10 years). For bonds of similar risk and …
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with a face amount of $100,000. The bonds mature in 2020 (5 years). For bonds of similar risk and maturi…
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with a face amount of $100,000. The bonds mature in 2020 (5 years). For bonds of similar risk and maturi…
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with a face amount of $100,000. The bonds mature in 2020 (5 years). For bonds of similar risk and maturi…
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with a face amount of $100,000. The bonds mature in 2020 (5 years). For bonds of similar risk and maturi…
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with
On January 1, 2016, Bishop Company issued 12% bonds dated January 1, 2016, with a face amount of $100,000. The bonds mature in 2020 (5 years). For bonds of similar risk and maturi…
On January 1, 2016, Blaugh Co. signed a long-term lease for an office building.
On January 1, 2016, Blaugh Co. signed a long-term lease for an office building. The terms of the lease required Blaugh to pay $10,000 annually, beginning December 30, 2016, and co…
On January 1, 2016, Bohannon, Inc., declared a 10% stock dividend on its common
On January 1, 2016, Bohannon, Inc., declared a 10% stock dividend on its common stock when the market value of the common stock was $20 per share. Stockholders' equity before the …
On January 1, 2016, Boston Enterprises issues bonds that have a $2,750,000 par v
On January 1, 2016, Boston Enterprises issues bonds that have a $2,750,000 par value, mature in 35 years, and pay 6% interest semiannually on June 30 and December 31. The bonds ar…
On January 1, 2016, Bradley Recreational Products issued $100,000, 13%, four-yea
On January 1, 2016, Bradley Recreational Products issued $100,000, 13%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $97,014…
On January 1, 2016, Bradley Recreational Products issued $170,000, 8%, four-year
On January 1, 2016, Bradley Recreational Products issued $170,000, 8%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $159,013…
On January 1, 2016, Bradley Recreational Products issued $200,000, 12%, four-yea
On January 1, 2016, Bradley Recreational Products issued $200,000, 12%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued at $188,05…
On January 1, 2016, Bravo- Zulu Company purchased 10,000 shares of the stock of
On January 1, 2016, Bravo- Zulu Company purchased 10,000 shares of the stock of Rayco, and did obtain significant a 30% ownership stake. Rayco made $25,000 of net income in 2016, …
On January 1, 2016, Breshing Company enters into a noncancelable lease, with no
On January 1, 2016, Breshing Company enters into a noncancelable lease, with no renewal option, to lease a new piece of equipment from Edwards Leasing Company. The lease term is f…
On January 1, 2016, Bryson Company obtained a $141,500, four-year, 8% installmen
On January 1, 2016, Bryson Company obtained a $141,500, four-year, 8% installment note from Campbell Bank. The note requires annual payments of $42,722, beginning on December 31, …
On January 1, 2016, Bryson Company obtained a $147,750, four-year, 7% installmen
On January 1, 2016, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires annual payments of $43,620, beginning on December 31, …