Riegel Company uses the lower-of-cost-or-market method, on an Individual-item basis, in pricing its inventory items. The inventory at December 31, 2011, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Ite
2014 YE Consolidated Balance Sheet
Cash & Cash Equivalents
Deferred Income Taxes
Prepaid Expenses and Other Current Assets
Current Assets of Discontinued Operations
Total Current Assets
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LATIFA SHOE CO.
For the Year Ended December 31, 2014
Cost of goods sold
Gross profit on sales
Ari Corporation reported the following for 2014:
Cost of goods sold
Selling and administrative expenses
Unrealized holding gain on available-for-sale securities
Prepare a statement of comprehensive income using:
(a) the one statement f
Two or more items are omitted in each of the following tabulations of income statement data.
Fill in the amounts that are missing.
1. Accounting for interest bearing notes receivables 359-364 (pv techinques)
2110 coupon notes receivable
2. Sale of receivables.
ABC Company lent 16,529 on 1/1/2014 to D Company
and receive 20,000 2yrs interest bearing note with
Fernandez Corporation purchased a truck at the beginning of 2014 for $50,000.
The truck is estimated to have a salvage value of $2,000 and estimated total activity of 160,000 miles.
The truck was driven 23,000 miles in 2014 and 31,000 miles in 2015
Koch Corporation's adjusted trial balance contained the following asset accounts at December 31, 2014:
Allowance for Doubtful Accounts
Equity Investments (trading)
The first month of Petit Company's detailed inventory records indicated the following:
On September 1, 2014, Winans Corporation acquired Aumont Enterprises for a cash payment of $700,000.
At the time of purchase, Aumont's balance sheet showed assets of $620,000, liabilities of $200,000 and owners' equity of $
The fair value of Aumont
(1)Suppose that on January 1, 2013, the entity received a 10,000, 10% note that; will mature on December 31, 2015.
The market rate of interest on 1/1/2013 is 10%.
The borrower will repay the note on 12/31/2015 and make periodic interest payments at the en
Clyde does have more discretion and flexibility in the recording of his bartering
exchanges than he would have if he paid it in cash. If the fair value of goods or services
received in a share-based payment transaction with nonemployees is more reliably
2014 YE Consolidated Statement of Cash Flows
Cash Flows - Operating Activities:
Net Income (Loss)
Earnings (Loss) From Discontinued Operations, Net of Tax
Earnings (Loss) From Continuing Operations, Net of Tax
Adjustments to reconcile earni