General Accounting

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Interest question with discount bonds

Johnson company issued bonds with a $100,000 face value on January 1, 2008. The five year term bonds were issued at 98...
3 comments posted 17yrs
posted by taxidermist
3 comments posted 17yrs posted by taxidermist

Sale of expensed assets

A small non-profit, in an effort to raise cash and clear out the office, sells off several dozen items, some of which a...
6 comments posted 17yrs
posted by whit_mattesonAT
6 comments posted 17yrs posted by whit_mattesonAT

accounting---Treasury stock

The stockholders equity category of Bradford Company's balance sheet on January 1, 2007, appears as follows: -Common st...
0 comments posted 17yrs
posted by tehagarba
0 comments posted 17yrs posted by tehagarba

What are the differences between CDOs and CMOs?

I am thinking that CDO/CMO are a subsect of MBS, but the basic principles behind them are the exact same. The CDO/CMO i...
1 comments posted 17yrs
posted by tangent1.57
1 comments posted 17yrs posted by tangent1.57

Expenses before business starts

My family just started a small restaurant business. Beside the major investment on equipments, we spent some money on t...
1 comments posted 17yrs
posted by wanghaodong
1 comments posted 17yrs posted by wanghaodong

Trade Builder

If I purchase stocks on a weekly basis from Trade builder, do I have to go list each and every transaction on my tax ret...
1 comments posted 17yrs
posted by bgreer5050
1 comments posted 17yrs posted by bgreer5050

Overstatement of ending inventory

An overstatement of ending inventory results in which of the following in the present period? a) Overstatement of total...
3 comments posted 17yrs
posted by deputymasten
3 comments posted 17yrs posted by deputymasten

Purchase discount for items previously purchased?

Cooley company recorded a purchase discount of $200 on merchandise the company had purchased a few days ago. Cooley use...
1 comments posted 17yrs
posted by taxidermist
1 comments posted 17yrs posted by taxidermist

Prepaid Insurance Question

On November 1, 2007, Pilot Company paid $1200 in advance for an insurance policy that covered the company for six month...
3 comments posted 17yrs
posted by taxidermist
3 comments posted 17yrs posted by taxidermist

Pay your Kids, Open IRA

You can pay your kids to do work on your properties and put the money in IRA accounts for them. This is especially a go...
3 comments posted 17yrs
posted by realtaxtips
3 comments posted 17yrs posted by realtaxtips

Increase in gross margin

Arrow Company purchased $4000 of merchandise on account. Arrow sold the merchandise to a customer for $7000 cash. What...
3 comments posted 17yrs
posted by taxidermist
3 comments posted 17yrs posted by taxidermist

What is the cost of financing?

On January 1, 2007, Pepsi Co. purchased inventory for $1000 cash. These goods were sold on April 30, 2007 for $1,400 ca...
4 comments posted 17yrs
posted by taxidermist
4 comments posted 17yrs posted by taxidermist