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On June 2, 2018, Tabitha Co. purchased a franchise for $560,000 by signing a fiv
On June 2, 2018, Tabitha Co. purchased a franchise for $560,000 by signing a five-year contract. At the end of the five years, the franchise right reverts back to the seller. On S…
On June 20, 2013 Abby Wambach of the US Women\'s National Team scored 4 goals to
On June 20, 2013 Abby Wambach of the US Women's National Team scored 4 goals to break the world record for international goals scored. A significant percentage of her goals are sc…
On June 21, 2018, Duckwall Co. purchased and placed in service $3,185,000 of 5-y
On June 21, 2018, Duckwall Co. purchased and placed in service $3,185,000 of 5-year recovery property (not an SUV). It is used 100% for business and Is the only property placed in…
On June 23, 2014 – in its Hobby Lobby decision – the Supreme Court ruled that re
On June 23, 2014 – in its Hobby Lobby decision – the Supreme Court ruled that requiring privately-owned corporations to pay for insurance coverage for contraception under the Affo…
On June 25, 2011, the Social Security Administration (SSA) made changes to the m
On June 25, 2011, the Social Security Administration (SSA) made changes to the method and exclusion rules used for assigning Social Security Numbers (SSNs). With the changes, the …
On June 25, Bold Corp. accepted delivery of merchandise which it purchased on ac
On June 25, Bold Corp. accepted delivery of merchandise which it purchased on account. As of June 30, Bold had not recorded the transaction nor included the merchandise in its inv…
On June 26, 2015, The United states Supreme Court ruled that same sex marriage i
On June 26, 2015, The United states Supreme Court ruled that same sex marriage is a constitutional right and will be aloud in all 50 states of the Union. States Supreme Court rule…
On June 27, 2010, Brite Co. distributed to its common stockholders 100,000 outst
On June 27, 2010, Brite Co. distributed to its common stockholders 100,000 outstanding 100,000 outstanding common shares of its investment in Quik, Inc., an unrelated party. The c…
On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Easte
On June 28 Lexicon Corporation acquired 100% of the common stock of Gulf & Eastern. The purchase price allocation included the following items: $4 million, patent; $3 million,…
On June 28, 2012 the U.S. Supreme Court upheld the much debated 2010 healthcare
On June 28, 2012 the U.S. Supreme Court upheld the much debated 2010 healthcare law, declaring it constitutional. A Gallup poll released the day after this decision indicates that…
On June 29, 2007, Apple released the initial iPhone. Thousands of people waited
On June 29, 2007, Apple released the initial iPhone. Thousands of people waited in line for hours and were willing to pay $600 for the 8 GB model. About two months later, Apple re…
On June 3 of the current year, Eric, Florence, and George form Wildcat Corporati
On June 3 of the current year, Eric, Florence, and George form Wildcat Corporation and transfer the following items: TRANSFER ASSET BASIS FMV SHARES E LAND 200000 50000 500 F EQUI…
On June 3, 2014, Hunt Company sold to Ann Mount merchandise having a sales price
On June 3, 2014, Hunt Company sold to Ann Mount merchandise having a sales price of $8,000 (cost $5,600) with terms of 2/10, n/60, f.o.b. shipping point. Hunt estimates that merch…
On June 3, 2014, Hunt Company sold to Ann Mount merchandise having a sales price
On June 3, 2014, Hunt Company sold to Ann Mount merchandise having a sales price of $8,240 (cost $5,768) with terms of 2/10, n/60, f.o.b. shipping point. Hunt estimates that merch…
On June 3, 2016, Fidelity State Company received a $4,000, 60-day, 12 percent no
On June 3, 2016, Fidelity State Company received a $4,000, 60-day, 12 percent note from Horace Coe, a customer whose account was past due. If Horace Coe dishonored the note receiv…
On June 3, 2017, Flint Company sold to Ann Mount merchandise having a sales pric
On June 3, 2017, Flint Company sold to Ann Mount merchandise having a sales price of $8,400 (cost $5,880) with terms of n/60, f.o.b. shipping point. Flint estimates that merchandi…
On June 3, 2017, Marin Company sold to Ann Mount merchandise having a sales pric
On June 3, 2017, Marin Company sold to Ann Mount merchandise having a sales price of $8,400 (cost $5,880) with terms of n/60, f.o.b. shipping point. Marin estimates that merchandi…
On June 3, Arnold Company sold to Chester Company merchandise having a sale pric
On June 3, Arnold Company sold to Chester Company merchandise having a sale price of $2,100 with terms of 3/10, n/60, f.o.b. shipping point. An invoice totaling $94, terms n/30, w…
On June 3, Arnold Company sold to Chester Company merchandise having a sale pric
On June 3, Arnold Company sold to Chester Company merchandise having a sale price of $4,500 with terms of 4/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, w…
On June 3, Arnold Company sold to Chester Company merchandise having a sale pric
On June 3, Arnold Company sold to Chester Company merchandise having a sale price of $4,500 with terms of 4/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, w…
On June 3, Arnold Company sold to Chester Company merchandise having a sale pric
On June 3, Arnold Company sold to Chester Company merchandise having a sale price of $4,500 with terms of 4/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, w…
On June 3, Bolton Company sold to Arquette Company merchandise having a sale pri
On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of $2,000 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $90, terms n/30, …
On June 3, Hunt Company sold to Ann Mount merchandise having a sales price of $1
On June 3, Hunt Company sold to Ann Mount merchandise having a sales price of $12,000 with terms of 3/10, n/60, f.o.b. shipping point. An invoice totaling $120, terms n/30, was re…
On June 3, Marigold Company sold to Chester Company merchandise having a sale pr
On June 3, Marigold Company sold to Chester Company merchandise having a sale price of $5,600 with terms of 3/10, n/60, f.ob. shipping point. An invoice totaling $95, terms n/30, …
On June 3, Splish Company sold to Chester Company merchandise having a sale pric
On June 3, Splish Company sold to Chester Company merchandise having a sale price of $4,600 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $93, terms n/30, w…
On June 3,2010, the firm of McAdams, Cooper, and Zhang decided to liquidate thei
On June 3,2010, the firm of McAdams, Cooper, and Zhang decided to liquidate their partnership. The partners have capital balances of $14,000,$84,000 and $118,00, respectively. The…
On June 30 Flower Party Planners had a35,000 balance in Accounts Receivable and
On June 30 Flower Party Planners had a35,000 balance in Accounts Receivable and a $3.299 credit balance in Allowance or uncollectible Accounts. During July Flower made credit sale…
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face value, 9 percent, 10-year bonds payable, with interest dates of December 31 and June 30. The b…
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face value, 9 percent, 10-year bonds payable, with interest dates of December 31 and June 30. The b…
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face
On June 30 of the current year, Rural Gas & Electric Co. issued $50,000,000 face value, 9 percent, 10-year bonds payable, with interest dates of December 31 and June 30. The b…
On June 30, 2007, semiannual secured bonds having a face valueof $200,000, a lif
On June 30, 2007, semiannual secured bonds having a face valueof $200,000, a life of 10 years and a coupon rate of 7% werepurchased to yield 6%. Assume that $214,878.28 was paid f…
On June 30, 2009, Arlington Company issued $1,500,000 of 10-year,8% bonds, dated
On June 30, 2009, Arlington Company issued $1,500,000 of 10-year,8% bonds, dated June 30, for $1,540,000. Present entries torecord the following transactions: Arlington Company (1…
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $20 per share. The following information pertains to the price per share of Mitek stock: Price 12/31…
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $20 per share. The following information pertains to the price per share of Mitek stock: Assume that…
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $
On June 30, 2009, MetroMedia, Inc., purchased 10,000 shares of Mitek stock for $20 per share. The following information pertains to the price per share of Mitek stock: Price 12/31…
On June 30, 2009, Sideways Movers had $243,000 in current assets and $211,000 in
On June 30, 2009, Sideways Movers had $243,000 in current assets and $211,000 in current liabilities. On August 1, 2009, Sideways received $50,000 from an issue of promissory note…
On June 30, 2009, Sideways Movers had $243,000 in current assets and $211,000 in
On June 30, 2009, Sideways Movers had $243,000 in current assets and $211,000 in current liabilities. On August 1, 2009, Sideways received $50,000 from an issue of promissory note…
On June 30, 2010, Mackes Company issued $5,040,000.00 face value of 13%, 20-year
On June 30, 2010, Mackes Company issued $5,040,000.00 face value of 13%, 20-year bonds at $5,419,156.68, a yield of 12%. Mackes uses the effective interest method to amortize bond…
On June 30, 2011, Omara Co. had outstanding 8%, $3,000,000 face amount, 15-year
On June 30, 2011, Omara Co. had outstanding 8%, $3,000,000 face amount, 15-year bonds maturing on June 30, 2021. Interest is payable on June 30 and December 31. The …
On June 30, 2011, Samson Corporation\'s common stock is priced at $29 per share
On June 30, 2011, Samson Corporation's common stock is priced at $29 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appear…
On June 30, 2011, Weslaco Company’s total current assets were $500,000 and its t
On June 30, 2011, Weslaco Company’s total current assets were $500,000 and its total current liabilities were $275,000. On July 1, 2011, Weslaco issued a short-term note to a bank…
On June 30, 2012, Quarker State purchased a drilling machine for $840,000. The e
On June 30, 2012, Quarker State purchased a drilling machine for $840,000. The estimated useful life of the machine is 10 years, and no residual value is anticipated. An important…
On June 30, 2012, Rolloff Inc. borrowed $25,000 from its bank, signing a 6% note
On June 30, 2012, Rolloff Inc. borrowed $25,000 from its bank, signing a 6% note. Principal and interest are due at the end of two years. Required: 2. Assume instead that the note…
On June 30, 2013, Blue, Inc., leased a machine from Big Leasing Corporation. The
On June 30, 2013, Blue, Inc., leased a machine from Big Leasing Corporation. The lease agreement qualifies as a capital lease and calls for Blue to make semiannual lease payments …
On June 30, 2013, Georgia-Atlantic, Inc., leased a warehouse facility from IC Le
On June 30, 2013, Georgia-Atlantic, Inc., leased a warehouse facility from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments…
On June 30, 2013, Georgia-Atlantic, Inc., leased a warehouse facility from IC le
On June 30, 2013, Georgia-Atlantic, Inc., leased a warehouse facility from IC leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments…
On June 30, 2013, Hardy Corporation issued $12.5 million of its 12% bonds for $1
On June 30, 2013, Hardy Corporation issued $12.5 million of its 12% bonds for $11.4 million. The bonds were priced to yield 14%. The bonds are dated June 30, 2013, and mature on J…
On June 30, 2013, K Co. had outstanding 9%, $16,500,000 face value bonds maturin
On June 30, 2013, K Co. had outstanding 9%, $16,500,000 face value bonds maturing on June 30, 2018. Interest is payable semiannually every June 30 and December 31. On June 30, 201…
On June 30, 2013, Kimberly Farms purchased custom-made harvesting machinery from
On June 30, 2013, Kimberly Farms purchased custom-made harvesting machinery from a local producer. In payment, Kimberly signed a noninterest-bearing note requiring the payment of …
On June 30, 2013, Sharper Corporation\'s common stock is priced at $62 per share
On June 30, 2013, Sharper Corporation's common stock is priced at $62 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appea…