Entries by Munene david

Use this information to prepare the Balance Sheet for the fiscal year

May 4, 2020 in /by

Use this information to prepare the Balance Sheet for the fiscal year. There are additional lines in the formatted Balance Sheet form to allow for authorized alternate presentations. Attachment 1 Attachment 2  ATTACHMENT PREVIEW Download attachment 1.PNG Step   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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Conduit Inc. purchased $10,000 bonds at a discount for $9,000

May 4, 2020 in /by

Conduit Inc. purchased $10,000 bonds at a discount for $9,000 on the open market as an investment. Conduit, Inc. has the intent and ability to hold these bonds to maturity. Conduit Inc. does not take the fair value option. 1. How should Conduit Inc. account for the bonds? a. Amortized cost b. fair value c. Historical cost […]

 

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On January 8, 20X8, Figetakis Inc., a large IT consulting firm,

May 4, 2020 in /by

On January 8, 20X8, Figetakis Inc., a large IT consulting firm, bought 35% of the shares of stock of IT-ology, Inc. for $620,000. Figetakis, Inc. has significant influence over IT-ology, Inc. decisions.  On December 31 20X8, IT-ology, Inc’s 20X8 Income Statement reported a net income of $1,800,000.  The fair value of Figetakis’ investment on December 31st was $700,000. What […]

 

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Can you please assist: On January 2, 2016

May 4, 2020 in /by

Can you please assist: On January 2, 2016, Alpha Corporation issued 1,500 shares of $6 par value common stock. The issue price was $15 per share. On January 15, Alpha Corporation issued 1,100 shares of its $100 par 5% cumulative preferred stock for $105 per share. Can you please explain how to prepare the General […]

 

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