Blog

Use the following information for questions 19 and 20: Magnus Carlsen provides Hans Niemann $100,000 in services on terms 2/10, n/30. Hans pays 20% of the balance 9 days later and the remaining balance 15 days later.

20.b. What is current period depreciation expense? 

14. Receivables are reported on the balance sheet at  

4. Where must earnings per share be disclosed in the financial statements to satisfy generally accepted accounting principles?

Robertson Corporation acquired two inventory items at a lump-sum cost of $96,000. The acquisition included 3,000 units of product CF and 7,000 units of product 3B. CF normally sells for $27 per unit and 3B for $9 per unit. If Robertson sells 1,000 units of CF, what amount of gross profit should it recognize under the relative sales value approach?

9. When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be included in the income statement as a gain or loss on disposal reported as?  

23.b. The transaction price allocated to the installation is:

12. The most significant current source of generally accepted accounting principles is the

The following information pertains to ABC. Corp.’s issuance of bonds on July 1,20X5: Face amount: $10,000 Term: 8 years Stated interest rate: 8% Interest payment dates: Annually on July 1 Yield: 10% What should be the issue price for this bond?

3. An adjusting entry should never only include: