Monthly Archives: June 2017

Central Valley Transit Inc. (CVT) has just signed a contract to purchase

Central Valley Transit Inc. (CVT) has just signed a contract to purchase light rail cars from a manufacturer in Germany for euro 3,000,000. The purchase was made in June with payment due six months later in December. Because this is … Continue reading

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Olive Garden anticipates a purchase frequency of 60 servings of lasagna

Olive Garden anticipates a purchase frequency of 60 servings of lasagna per night at a price of $11.99 and plans their operations accordingly. When fewer than 60 customers arrive on a given evening, the Olive Garden restaurateur does something very … Continue reading

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Bradburn Corporation was formed 5 years ago through a public

Bradburn Corporation was formed 5 years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Bradburn and is its current president. The company has been successful, … Continue reading

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The current assets and current liabilities sections of the balance sheet of Swifty Company

The current assets and current liabilities sections of the balance sheet of Swifty Company appear as follows. SWIFTY COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2017 Cash                $ 50,000        Accounts payable        $ 57,390 Accounts receivable        … Continue reading

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Newly elected Mayor of Sparksville, the town’s citizens are eager

As Newly elected Mayor of Sparksville, the town’s citizens are eager to hear what you plan on doing to promote the local economy while maintaining a high level of environmental air quality. Write a 350- to 700-word speech for a … Continue reading

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Bill’s Lawn Care Module 2 Mini Practice Problem

Bill’s Lawn Care Module 2 Mini Practice Problem Bill has asked you to prepare financial statements for his first month of operation.  The following information relates to the month of May, 2014. (Round all calculations to the nearest whole dollar) … Continue reading

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SolarStar has decided to invest in a new robotic technology for solar energy

SolarStar has decided to invest in a new robotic technology for solar energy equipment in their new solar-powered generators. They have been offered the following option by a large robotics manufacturer. Cost: $15 million SolarStar expects the following after-tax cash … Continue reading

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Dantonio Company issued five-year, 8% bonds with a total face value

Dantonio Company issued five-year, 8% bonds with a total face value of $500,000 on January 1, 2014. Interest is paid semi-annually on June 30 and December 31. The market rate of interest on this date was 10%. Dantonio uses the … Continue reading

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On April 1, 2016 Alpha Company sells $1,000,000 face value of 8%

On April 1, 2016 Alpha Company sells $1,000,000 face value of 8% five year bonds which call for semiannual interest payments. The bonds are dated April 1, 2016 so these bonds are issued on an interest date. The market rate … Continue reading

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David and Darlene Jasper have one child, Sam, who is 6 years old

David and Darlene Jasper have one child, Sam, who is 6 years old (birthdate July 1, 2010). The Jaspers reside at 4639 Honeysuckle Lane, Los Angeles, CA 90248. David’s Social Security number is 577-11-3311, Darlene’s is 477-98-4731, and Sam’s is … Continue reading

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