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On March 1, 2017, Concord Company sold goods to Goosen Inc. for $714,000 in exch
On March 1, 2017, Concord Company sold goods to Goosen Inc. for $714,000 in exchange for a S-year, zero-interest-bearing note in the face amount of $1,203,132 (an inputed rate of …
On March 1, 2017, Cullumber Company acquired real estate, on which it planned to
On March 1, 2017, Cullumber Company acquired real estate, on which it planned to construct a small office building, by paying $87,000 in cash. An old warehouse orn the property wa…
On March 1, 2017, Eckert and Kelley formed a partnership. Eckert contributed $80
On March 1, 2017, Eckert and Kelley formed a partnership. Eckert contributed $80,000 cash and Kelley contributed land valued at $64,000 and a building valued at $94,000. The partn…
On March 1, 2017, Eckert and Kelley formed a partnership. Eckert contributed $82
On March 1, 2017, Eckert and Kelley formed a partnership. Eckert contributed $82,500 cash and Kelley contributed land valued at $60,000 and a building valued at $100,000. The part…
On March 1, 2017, Leach Company entered into a foreign exchange forward contract
On March 1, 2017, Leach Company entered into a foreign exchange forward contract with Montclair Bank to sell Euro 20,000 to be delivered on April 30. Assume that Leach prepares fi…
On March 1, 2017, Oriole Company acquired real estate, on which it planned to co
On March 1, 2017, Oriole Company acquired real estate, on which it planned to construct a small office building, by paying $82,500 in cash. An old warehouse on the property was de…
On March 1, 2017, Sandhill Construction Company contracted to construct a factor
On March 1, 2017, Sandhill Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,400,000. The building was…
On March 1, 2017, Westmorlan Company acquired real estate on which it planned to
On March 1, 2017, Westmorlan Company acquired real estate on which it planned to construct a small office building. The company paid $90,000 in cash. An old warehouse on the prope…
On March 1, 2017, Wildhorse Co. acquired real estate, on which it planned to con
On March 1, 2017, Wildhorse Co. acquired real estate, on which it planned to construct a small office building, by paying $85,500 in cash. An old warehouse on the property was dem…
On March 1, 2017, sOFTER Corporation issued $100,000 of five-year, 496 bonds. Th
On March 1, 2017, sOFTER Corporation issued $100,000 of five-year, 496 bonds. The bonds pay interest semi- annually on September 1 and March 1. SOFTER's year end is December 31 an…
On March 1, 2017, the Company entered into an agreement with a customer, Thornoc
On March 1, 2017, the Company entered into an agreement with a customer, Thornock Square Apartments, to construct a residential apartment building for a fixed price of $1.5 millio…
On March 1, 2018, Beldon Corporation purchased land as a factory site for $60,00
On March 1, 2018, Beldon Corporation purchased land as a factory site for $60,000. An old building on the property was demolished, and construction began on a new building that wa…
On March 1, 2018, Beldon Corporation purchased land as a factory site for $69,00
On March 1, 2018, Beldon Corporation purchased land as a factory site for $69,000. An old building on the property was demolished and construction began on a new building that was…
On March 1, 2018, Beldon Corporation purchased land as a factory site for $72,00
On March 1, 2018, Beldon Corporation purchased land as a factory site for $72,000. An old building on the property was demolished, and construction began on a new building that wa…
On March 1, 2018, Gold Examiner receives $155,000 from a local bank and promises
On March 1, 2018, Gold Examiner receives $155,000 from a local bank and promises to deliver 96 units of certified 1-oz. gold bars on a future date. The contract states that owners…
On March 1, 2018, Gold Exarniner receives $153,000 from a local bank and promise
On March 1, 2018, Gold Exarniner receives $153,000 from a local bank and promises to deliver 100 units of certified 1-oz. gold bars on a future date. The contract states that owne…
On March 1, 2018, Gold Exarniner receives $153,000 from a local bank and promise
On March 1, 2018, Gold Exarniner receives $153,000 from a local bank and promises to deliver 100 units of certified 1-oz. gold bars on a future date. The contract states that owne…
On March 1, 2018, Navy Corporation used excess cash to purchase U.S. Treasury bo
On March 1, 2018, Navy Corporation used excess cash to purchase U.S. Treasury bonds for $95,000 plus accrued interest. The bonds were purchased at face value. The appropriate inte…
On March 1, 2018, Stratford Lighting issued 10% bonds, dated March 1, with a fac
On March 1, 2018, Stratford Lighting issued 10% bonds, dated March 1, with a face amount of $780,000. The bonds sold for $768,000 and mature on February 28, 2038 (20 years). Inter…
On March 1, 2018, Sun Devil Inc. sold goods to Bruins Company by accepting a 5-y
On March 1, 2018, Sun Devil Inc. sold goods to Bruins Company by accepting a 5-year, zero-interest-bearing note in the face amount of $1,062,939 with an imputed interest rate of 1…
On March 1, 20X0, a company purchased $200,000 par value, 8% bonds, when the mar
On March 1, 20X0, a company purchased $200,000 par value, 8% bonds, when the market rate of interest for similar bonds was 10%. The bonds mature on March 20Y0 (ten years from now)…
On March 1, 20X1, you invested 80,000 cash in your new sole proprietorship, whic
On March 1, 20X1, you invested 80,000 cash in your new sole proprietorship, which you call Autopartes Lisbon. You acquired 10,000 inventory for cash. You acquired 8,000 inventory …
On March 1, 20X1, your calendar year company borrows $10,000. Terms require repa
On March 1, 20X1, your calendar year company borrows $10,000. Terms require repayment of principal and annual interest of 9% after 4 years. At year-end 20X1, an adjusting entry ac…
On March 1, 20XX the Caldwell Company negotiated a, 12%, 1-year, $100,000 note w
On March 1, 20XX the Caldwell Company negotiated a, 12%, 1-year, $100,000 note with Low Mountain Savings and Loan. Use 360 days in a year. Show the effects on the accounting equat…
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $20,900 in cash and merchandise inventory valued at $55,950. Wallace invests certain busi…
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,300 in cash and merchandise inventory valued at $56,390. Wallace invests certain busi…
On March 1, 20x4, an appliance company sold a flat-screen TV for $8,000 along wi
On March 1, 20x4, an appliance company sold a flat-screen TV for $8,000 along with a $600 service contract for any parts and labor on repairs not covered under the manufacturer’s …
On March 1, Cooper Company borrows $80,000 from New National Bank by signing a 6
On March 1, Cooper Company borrows $80,000 from New National Bank by signing a 6-month, 6%, interest-bearing note. Required: Prepare the necessary entries below associated with th…
On March 1, Cream Corporation transfers all of its assets to Coffee Corporation
On March 1, Cream Corporation transfers all of its assets to Coffee Corporation in exchange for 10% of its common voting stock. At the time of the reorganization, Cream has assets…
On March 1, Emily loaned Billy $1,000. Emily charged a monthly interest rate of
On March 1, Emily loaned Billy $1,000. Emily charged a monthly interest rate of 0.10 percent on the loan. Billy repaid all of the loan principal and interest on the agreed upon da…
On March 1, Faye Co. began construction of a small building. The following expen
On March 1, Faye Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $ 75,000 Apri…
On March 1, Faye Co. began construction of a small building. The following expen
On March 1, Faye Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $ 75,000 Apr…
On March 1, Gatt Co. began construction of a small building. The following expen
On March 1, Gatt Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $ 75,000 April 1 $ 74,000 May 1 180,000 June 1 270,…
On March 1, Gatt Co. began construction of a small building. The following expen
On March 1, Gatt Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $ 75,000 April 1 $ 74,000 May 1 180,000 June 1 270,…
On March 1, Mocl Co. began construction of a small building. The following expen
On March 1, Mocl Co. began construction of a small building. The following expenditures were incurred for construction: March 1 April 1 May 1 June 1 July 1 $224,280 221,880 537,72…
On March 1, Pluto Corporation declared and issued a 10% stock dividend on its 20
On March 1, Pluto Corporation declared and issued a 10% stock dividend on its 200,000 outstanding shares of S3 par value common stock. On September 1, Pluto declared a 3-for-1 sto…
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery r
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,200. In payment for th…
On March 1, fixtures and equipment were purchased for $4,000 with a downpayment
On March 1, fixtures and equipment were purchased for $4,000 with a downpayment of $1,500 and a $2,500 note, payable in one year. Interest of 4% per year was due when the note was…
On March 1, fixtures and equipment were purchased for $4,500 with a downpayment
On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,000 and a $3,500 note, payable in one year. The interest of 6.5% per year was due when the no…
On March 1, fixtures and equipment were purchased for $4,500 with a downpayment
On March 1, fixtures and equipment were purchased for $4,500 with a downpayment of $1,000 and a $3,500 note, payable in one year. Interest of 6.5% per year was due when the note w…
On March 1, fixtures and equipment were purchased for $5,000 with a downpayment
On March 1, fixtures and equipment were purchased for $5,000 with a downpayment of $1,500 plus a $3,500 note payable in one year. Interest of 7% per year is due when the note is r…
On March 1, fixtures and equipment were purchased for $5,000 with a downpayment
On March 1, fixtures and equipment were purchased for $5,000 with a downpayment of $1,000 plus a $4,000 note payable in one year. Interest of 6.5% per year is due when the note is…
On March 1, fixtures and equipment were purchased for $5,500 with a downpayment
On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $2,000 plus a $3,500 note payable in one year. Interest of 6% per year is due when the note is r…
On March 1, fixtures and equipment were purchased for $5,500 with a downpayment
On March 1, fixtures and equipment were purchased for $5,500 with a downpayment of $1,500 plus a $4,000 note payable in one year. Interest of 6.5% per year is due when the note is…
On March 1, fixtures and equipment were purchased for $6,000 with a downpayment
On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,000 and a $5,000 note, payable in one year. Interest of 6% per year was due when the note was…
On March 1, fixtures and equipment were purchased for $6,000 with a downpayment
On March 1, fixtures and equipment were purchased for $6,000 with a downpayment of $1,500 and a $4,500 note, payable in one year. Interest of 5% per year was due when the note was…
On March 1, it was discovered that the following errors took place in journalizi
On March 1, it was discovered that the following errors took place in journalizing and posting transactions: a. The receipt of $8,400 for services rendered was recorded as a debit…
On March 1, sather co. Sold merchandise to Boone Co. on account for $30,100 term
On March 1, sather co. Sold merchandise to Boone Co. on account for $30,100 terms 2/15 n/30 the cost of the merchandise sold is $19,600. The merchandise was paid for on March 14. …
On March 1, the three classmates opened a checking account for The Wire at a loc
On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $23,000 in exchange for shares of stock. A few of their friends also p…
On March 1, the three classmates opened a checking account for The Wire at a loc
On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $25,000 in exchange for shares of stock. A few of their friends also p…