Business, 31.08.2021 17:30 jasminellenaee
On May 1, 2020, Sage Inc. entered into a contract to deliver one of its specialty mowers to Kickapoo Landscaping Co. The contract requires Kickapoo to pay the contract price of $965 in advance on May 15, 2020. Kickapoo pays Sage on May 15, 2020, and Sage delivers the mower (with cost of $651) on May 31, 2020.
Required:
a. Prepare the journal entry on May 1, 2020, for Crane.
b. Prepare the journal entry on May 15, 2020, for Crane.
c. Prepare the journal entry on May 31, 2020, for Crane.
Answers: 2
Business, 22.06.2019 05:00
You are chairman of the board of a successful technology firm. there is a nominal federal corporate tax rate of 35 percent, yet the effective tax rate of the typical corporation is about 12.6%. your firm has been clever with use of transfer pricing and keeping money abroad and has barely paid any taxes over the last 5 years; during this same time period, profits were $28 billion. one member of the board feels that it is un-american to use various accounting strategies in order to avoid paying taxes. others feel that these are legal loopholes and corporations have a fiduciary responsibility to minimize taxes. one board member quoted what the ceo of exxon once said: âiâm not a u.s. company and i donât make decisions based on whatâs good for the u.s.â what are the alternatives? what are your recommendations? why do you recommend this course of action?
Answers: 2
Business, 22.06.2019 06:10
P11.2a (lo 2, 4) fechter corporation had the following stockholdersâ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of parâcommon stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholdersâ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholdersâ equity section for fechter corporation at december 31, 2020.
Answers: 1
Business, 22.06.2019 09:30
An object that is clicked on and takes the presentation to a new targeted file is done through a
Answers: 2
Business, 22.06.2019 14:40
Which of the following would classify as a general education requirement
Answers: 1
On May 1, 2020, Sage Inc. entered into a contract to deliver one of its specialty mowers to Kickapoo...
Chemistry, 01.06.2021 05:10
Computers and Technology, 01.06.2021 05:10
Mathematics, 01.06.2021 05:10
Mathematics, 01.06.2021 05:10
History, 01.06.2021 05:10
History, 01.06.2021 05:10
Mathematics, 01.06.2021 05:10
Mathematics, 01.06.2021 05:10
English, 01.06.2021 05:10
Business, 01.06.2021 05:10
Spanish, 01.06.2021 05:10
Mathematics, 01.06.2021 05:10