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Ok so I am doing a problem where I have to prepare consolidated income statement. I prepared my purchase discrepancy schedule and my equipment is a negative because it's fv is less then its book...

Hi, I have a basic understanding of this question, however I am trying to learn from it and I have no idea where a few values are coming from. Okay so here it is:

The Smith's have just purchased...

Okay, so we are going to accrue for a 12 month period? If it is a 12 month period he is owed that interest to him, the full 85K.
JE: Interest Receivable 85,000(DR)
Interest...

To prepare a common size income statement, is to turn value into percentages with a common demonitor. Item/reference item. In an income statement the reference item is the sales, revenue... and it is...

To accrue interest, is done at end of accounting period. Is the loan made by our boss, or does he have an outstanding loan? If the loan was issued by him: ex: loan $20,000, issued May 31,07 with 10%...

To your question concerning your race track tickets, The first thing that has to be known is if the tickets are sold with cash or not. It looks like they are bought on credit where it states that it...

HI,

I am stuck on a problem in Intermediate Accounting. I am given the amount of dividends declared in 08 ($100,000) and told that of that amount $25,000 will be paid in January of 2009. As to my...

[I have the concept of eps down... can figure that out however the question then asks what is the common dividends per share? What is the formula? Do I find it from my eps and divide by the amount of...