On June 01, 2016, ABC signed a $13620 consulting contract with XYZ The contract requires ABC to provide computer technology support services whenever requested over the period from June 01, 2016 to June 01, 2018, with XYZ paying the entire $13620 on June 01, 2016 Use the account titles on the spreadsheet account_titles. xlsx Prepare journal entries for ABC the journal entry on June 01, 2016 will be a DR to (account title) Answer Cash the journal entry on June 01, 2016 will be a CR to (account title) Answer Cash-Equivalents the amount of the DR and the CR on June 01, 2016 is Answer the adjusting journal entry (based on months passed) on December 31, 2016 will be a DR to (account title) Answer the adjusting journal entry on December 31, 2016 will be a CR to (account title) Answer the amount of the DR and the CR on December 31, 2016 will b

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)

Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.

Beranek corp has $720,000 of assets, and it uses no debt--it is financed only with common equity. the new cfo wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. how much must the firm borrow to achieve the target debt ratio? a. $273,600b. $288,000c. $302,400d. $317,520e. $333,396