Entries by mary WAMBUGU

The net income for Blue Water Corporation was $140 million for the year ended December 31, 2006. Related information follows:

September 6, 2019 in /by

The net income for Blue Water Corporation was $140 million for the year ended December 31, 2006. Related information follows: Amortization of patent, $1 million. Cash dividends paid, $14 million. Decrease in accounts receivable, $9 million Decrease in salaries payable, $1 million. Depreciation expense, $20 million. Increase in long-term notes payable, $13 million. Sale of […]

 

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Sales revenue for Marshall Mattresses was $240,000. The following data are from the accounting records of Marshall: Bad debt expense $2,000

September 6, 2019 in /by

Sales revenue for Marshall Mattresses was $240,000. The following data are from the accounting records of Marshall: Bad debt expense $2,000 Accounts receivable decrease 5,000 Allowance for uncollectible accounts increase 3,000 The cash received from customers was: (A)  $235,000 (B)  $244,000 (C)  $245,000 (D) $246,000   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon […]

 

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Samson Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million shares of its $1 par value common stock,

September 6, 2019 in /by

Samson Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million shares of its $1 par value common stock, for a combined cash amount of $22 million. The market value of Samson’s stock cannot be determined. The bonds would have sold for $9 million if issued separately. […]

 

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The corporate charter of Big Blue Tent Co. authorized the issuance of 6 million, $1 par common shares. During 2006, its first year of operations, Big Blue had the following transactions:

September 6, 2019 in /by

The corporate charter of Big Blue Tent Co. authorized the issuance of 6 million, $1 par common shares. During 2006, its first year of operations, Big Blue had the following transactions:  February 4 sold 4 million shares at $15 per share October 12 retired 1 million shares at $18 per share December 30 sold the […]

 

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