Project Details
The Acme Gadget Company designs and manufactures consumer
gadgets. Last year, Acme began development...
Project Details
The Acme Gadget Company designs and manufactures consumer
gadgets. Last year, Acme began development of three prototype
gadgets with the intention of bringing all three to market.
However, a recent downturn in the economy has forced Acme to
reconsider due to decreased consumer demand that is projected to
remain low for 2-3 years. As such, Acme will bring only one of the
prototypes to market. They’ve hired a consulting firm to advise
which prototype to bring to market....
2.4 Journal Entries
Illini Company, Inc. Balance Sheet as of 12/31/20X0
Assets
Current Assets:
Cash 1,500,000...
2.4 Journal Entries
Illini Company, Inc. Balance Sheet as of 12/31/20X0
Assets
Current Assets:
Cash 1,500,000
Accounts receivable, net 18,000
Inventory 50,000
Total current assets 1,568,000
Equipment 90,000
Goodwill 20,000
Total assets 1,678,000
Liabilities and shareholders' equity
Shareholders' equity:
Common stock, 20,000 shares outstanding, $1 par 20,000
Additional paid-in capital 280,000
Retained earnings 1,378,000
Total shareholders' equity 1,678,000
Total liabilities and shareholders' equity 1,678,000
Note that all additional paid-in capital (APIC) sub accounts
(e.g., APIC-options and APIC-treasury stock), if any,...
Pandora is the Internet’s most successful subscription radio
service. As of June 2013, it had over...
Pandora is the Internet’s most successful subscription radio
service. As of June 2013, it had over 200 million registered users
(140 million of which access the service via a mobile device) and
over 70 million active listeners. Pandora now accounts for more
than 70% of all Internet radio listening hours and a 7% share of
total U.S. radio listening (both traditional and Internet). At
Pandora, users select a genre of music based on a favorite
musician, and a computer algorithm...