INTERMEDIATE ACCOUNTING
1st Edition
ISBN: 9781264920532
Author: SPICELAND
Publisher: MCG
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What was his capital gains yield?
On January 1, Trump Financial Services lends a corporate client $180,000 at an 8% interest rate. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:
At the beginning of the current fiscal year, the balance sheet
of Wilson Corp. showed liabilities of $250,000. During the
year, liabilities decreased by $40,000, assets increased by
$90,000, and paid-in capital increased by $15,000 to
$210,000. Dividends declared and paid during the year were
$75,000. At the end of the year, owners' equity totaled
$415,000.
Calculate net income or loss for the year.
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