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Question 13 (2 points) The following is selected information from Ayayai Corp. for the fiscal year...
Question 13 (2 points) The following is selected information from Ayayai Corp. for the fiscal year...
Question 13 (2 points) The following is selected information from Ayayai Corp. for the fiscal year ending October 31, 2020. Cash received from customers $260,000 Revenue recognized 451,000 Cash paid for expenses 159800 Cash paid for computers on November 1, 2016 45120 that will be used for 3 years Expenses incurred including any depreciation 202,800 Proceeds from a bank loan, part of which was used to pay for the computers 69,000 Based on the accrual basis of accounting, what is...
The following is selected information from J Corporation for the fiscal year ending October 31, 2008....
The following is selected information from J Corporation for the fiscal year ending October 31, 2008. Cash received from customers $300,000 Revenue earned 380,000 Cash paid for expenses 170,000 Cash paid for computers on November 1, 2007 that will be used for 3 years (annual depreciation is $16,000) 48,000 Expenses incurred, not including any depreciation 200,000 Proceeds from a bank loan, part of which was used to pay for the computers 100,000 Based on the accrual basis of accounting, what...
View Policies Current Attempt in Progress The following is selected information from Sheffield Corporation for the...
View Policies Current Attempt in Progress The following is selected information from Sheffield Corporation for the fiscal year ending October 31, 2022 Cash received from customers $298000 Revenue recognized 370000 Cash paid for expenses 180000 Cash paid for computers on November 1, 2021 that will be used for 3 years (annual depreciation is $15500) 46500 Expenses incurred, including interest, but excluding any depreciation Proceeds from a bank loan, part of which was used to pay for the computers 101000 219000...
14. The following is selected information from J Corporation for the fiscal year ending October...
14. The following is selected information from J Corporation for the fiscal year ending October 31, 2008. Cash received from customers $300,000 Revenue earned 380,000 Cash paid for expenses 170,000 Cash paid for computers on November 1, 2007 that will be used for 3 years (annual depreciation is $16,000) 48,000 Expenses incurred, not including any depreciation 200,000 Proceeds from a bank loan, part of which was used to pay for the computers 100,000 Based on the accrual...
The following is selected information from Majan Corporation for the fiscal year ending March 31, 2011...
The following is selected information from Majan Corporation for the fiscal year ending March 31, 2011 Cash received from customers $24,000 from previous years accrued revenue; Revenue earned 28,000; Cash paid for expenses 13,600 for previous accrued expenses: Cash paid for computers on April 1, 2010 3,840 that will be used for 3 years (annual depreciation is $1,280); Expenses incurred, not including any depreciation 16,000; Proceeds from a bank loan, part of which was used to pay for the computers...
Question 9 of 9 -/ 15 View Policies Current Attempt in Progress Information concerning Ayayai Corporation's...
Question 9 of 9 -/ 15 View Policies Current Attempt in Progress Information concerning Ayayai Corporation's intangible assets is as follows. 1. On January 1, 2020, Ayayai signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial franchise fee of $100,000. Of this amount, $20,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $20,000 each, beginning January 1, 2021. The agreement provides that the down...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai...
Ayayai Corporation made the following purchases of investments
during 2020, the first year in which Ayayai invested in equity
securities:
1.
On January 15, purchased 8,100 shares of Nirmala Corp.’s common
shares at $30.10 per share plus commission of $1,782.
2.
On April 1, purchased 4,500 shares of Oxana Corp.’s common
shares at $47 per share plus commission of $3,033.
3.
On September 10, purchased 6,300 shares of WTA Corp.’s
preferred shares at $23.90 per share plus commission of
$2,619....
Use the following information for the next question. SRC showed the following Cash received from customers...
Use the following information for the next question. SRC showed the following Cash received from customers Expenses incurred, including depreciation $700 $600 Revenue earned 146 proceeds from a bank loan to purchase computer 200 Cash paid for expenses 160 Cash paid for computer to be used for 4 years with yearly straight-line depreciation of $50 340 What is SRC's net income for the year based on the accrual basis of accounting? What is SRC's net income for the year based...
Ayayai Company received the following selected information from its pension plan trustee concerning the operation of...
Ayayai Company received the following selected information from
its pension plan trustee concerning the operation of the company’s
defined benefit pension plan for the year ended December 31,
2020.
January 1, 2020
December 31, 2020
Projected benefit obligation
$1,499,000
$1,527,000
Market-related and fair value of plan assets
802,000
1,127,200
Accumulated benefit obligation
1,622,000
1,742,500
Accumulated OCI (G/L)—Net gain
0
(199,900
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $78,000 and...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai invested in equity securities: 1. On January 15, purchased 8,100 shares of Nirmala Corp.'s common shares at $30.10 per share plus commission of $1,782. 2. On April 1, purchased 4,500 shares of Oxana Corp.'s common shares at $47 per share plus commission of $3,033 3. On September 10, purchased 6,300 shares of WTA Corp.'s preferred shares at $23.90 per share plus commission of $2,619....
Question 13 (2 points) The following is selected information from Ayayai Corp. for the fiscal year ending October 31, 2020. Cash received from customers $260,000 Revenue recognized 451,000 Cash paid for expenses 159800 Cash paid for computers on November 1, 2016 45120 that will be used for 3 years Expenses incurred including any depreciation 202,800 Proceeds from a bank loan, part of which was used to pay for the computers 69,000 Based on the accrual basis of accounting, what is...
View Policies Current Attempt in Progress The following is selected information from Sheffield Corporation for the fiscal year ending October 31, 2022 Cash received from customers $298000 Revenue recognized 370000 Cash paid for expenses 180000 Cash paid for computers on November 1, 2021 that will be used for 3 years (annual depreciation is $15500) 46500 Expenses incurred, including interest, but excluding any depreciation Proceeds from a bank loan, part of which was used to pay for the computers 101000 219000...
The following is selected information from Majan Corporation for the fiscal year ending March 31, 2011 Cash received from customers $24,000 from previous years accrued revenue; Revenue earned 28,000; Cash paid for expenses 13,600 for previous accrued expenses: Cash paid for computers on April 1, 2010 3,840 that will be used for 3 years (annual depreciation is $1,280); Expenses incurred, not including any depreciation 16,000; Proceeds from a bank loan, part of which was used to pay for the computers...
Question 9 of 9 -/ 15 View Policies Current Attempt in Progress Information concerning Ayayai Corporation's intangible assets is as follows. 1. On January 1, 2020, Ayayai signed an agreement to operate as a franchisee of Hsian Copy Service, Inc. for an initial franchise fee of $100,000. Of this amount, $20,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $20,000 each, beginning January 1, 2021. The agreement provides that the down...
Ayayai Corporation made the following purchases of investments
during 2020, the first year in which Ayayai invested in equity
securities:
1.
On January 15, purchased 8,100 shares of Nirmala Corp.’s common
shares at $30.10 per share plus commission of $1,782.
2.
On April 1, purchased 4,500 shares of Oxana Corp.’s common
shares at $47 per share plus commission of $3,033.
3.
On September 10, purchased 6,300 shares of WTA Corp.’s
preferred shares at $23.90 per share plus commission of
$2,619....
Use the following information for the next question. SRC showed the following Cash received from customers Expenses incurred, including depreciation $700 $600 Revenue earned 146 proceeds from a bank loan to purchase computer 200 Cash paid for expenses 160 Cash paid for computer to be used for 4 years with yearly straight-line depreciation of $50 340 What is SRC's net income for the year based on the accrual basis of accounting? What is SRC's net income for the year based...
Ayayai Company received the following selected information from
its pension plan trustee concerning the operation of the company’s
defined benefit pension plan for the year ended December 31,
2020.
January 1, 2020
December 31, 2020
Projected benefit obligation
$1,499,000
$1,527,000
Market-related and fair value of plan assets
802,000
1,127,200
Accumulated benefit obligation
1,622,000
1,742,500
Accumulated OCI (G/L)—Net gain
0
(199,900
)
The service cost component of pension expense for employee services
rendered in the current year amounted to $78,000 and...
Ayayai Corporation made the following purchases of investments during 2020, the first year in which Ayayai invested in equity securities: 1. On January 15, purchased 8,100 shares of Nirmala Corp.'s common shares at $30.10 per share plus commission of $1,782. 2. On April 1, purchased 4,500 shares of Oxana Corp.'s common shares at $47 per share plus commission of $3,033 3. On September 10, purchased 6,300 shares of WTA Corp.'s preferred shares at $23.90 per share plus commission of $2,619....
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