On January 1, 2020, Pharoah Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was $19,200. Prepare the corporation's journal entry to record the reacquisition of the bonds.

The Blue Nile Law Firm prepays for advertising in the local newspaper. On January 1, the law firm paid $ 15 comma 000 for twelve months of advertising.

Which of the following statements does not describe a motivation by the buyer or seller in the acquisition or sale of a company?

Shangrilah Sandals is a manufacturing firm in a developing country, where it routinely uses grease payments to local officials to expedite overseas shipments.

Red Corporation, which owns stock in Blue Corporation, had net operating income of $200,000 for the year. Blue pays Red a dividend of $40,000. Red takes a dividends received deduction of $20,000. Which of the following statements is correct? A.

Peyton contributes property to a corporation in exchange for its stock with a fair market value of $100,000. This transaction qualifies as a tax-free exchange, allowing Peyton to defer a $40,000 gain. What is Peyton's basis in the stock

Haberdash inc. last year reported sales of $12 million and an inventory turnover ratio of 3. the company is now adopting a just-in-time inventory system.

Tara is responsible for the strategic planning retail planning process in her organization. She has identified the strategic opportunities. Which of the following steps is most likely Zara's next stage in the strategic retail planning process? A.

During 2015, Blevert Co. introduced a new line of machines that carry a three-year warranty against manufacturer's defects.

There are five stakeholders a company must consider when practicing social responsibility: Group of answer choices Employees Investors Environment Community Countries Customers Board of Directors

Mize Company provided $45,500 of services on account, and collected $38,000 from customers during the year. The company also incurred $37,000 of expenses on account, and paid $32,400 against its payables.