Peter parlor started business on jamuay 1, 20xx. At the beginning of January, pete paid $3,400 for supplies. Prepare the journal entry for this transaction.

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How do I prepare the income statement and balance sheet for adjusted entries

After you have posted your adjusting entries you need to do an adjusted trial balance. Hint: use a Worksheet. Then set up two sets of columns for Income Statement and Balance Sheet, then carry your accounts to the appropriate columns.

I have attached a sample Workheet in Excel 97-2003 to show you what I was talking about.

What are the three departures from SFAS 141 according to SFAS 141(R) Business Combinations


What are the three departures from SFAS 141 according to SFAS 141(R) Business Combination

Very Company acquires Billings Company in a combination accounted for as an acquisition and adopts the equity method to account for Investment in Billings. At the end of four years, the Investment in Billings account on Avery's books is $198,984. What type of items constitute this balance

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Ques. 4:
Anderson Corporation was organized early in 2000. The articles of incorporation authorize
30,000 shares of $100 par value, 10% cumulative preferred stock and 600,000 shares of $5
par value common stock. The following transactions affecting stockholders’ equity were
completed during the first year:
1. Issued 50 shares of preferred stock at par value as payment for legal services.
2. Issued 4,000 shares of common stock at $20 per share and 800 shares of preferred stock
at par.
3. Exchanged 10,000 shares of common stock for land with an appraised value of $120,000
and a building with an appraised value of $90,000
4. Declared the required cash dividend on preferred stock and a $2 per share dividend on
common stock.
5. Closed the $200,000 credit balance in the Income Summary Account.
Required
a. Prepare journal entries to record these transactions.
b. Prepare the stockholders’ equity section of the balance sheet.

I was assigned the following problem:


The portion of a group purchase of land and a buildup for $648,000 allocated to land, when the land is appraised at $170,000 and the building on the land is appraised at $510,000.

I don't really know the formula to solving this problem... Can you please help... I just need to know what the formula is or how do I solve this... Thank you...