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A corporation purchased for cash 5,000 shares of its own $10 par common stock at $34.00 a share. In the following year, it sold 2,000 of the treasury shares at $38 a share for each.
(a) Journalize the entries to record the purchase (treasury stock is recorded at cost)
(b) Journalize the entries to record the sale of the stock.
Distinguish between liquidity and profitability.
a. Prepare the January 2014 income statement for Chaterjee Manufacturing Company.
the bank account as a control device helps to protect cash. one of the requirements is to conduct periodic bank
Tex's applies an overhead rate of $10/unit based on 200 units. If Tex's produces 210 units and has a flexible overhead budget of $1,900, the overhead volume variance is:
she contributed an additional $20000 to the corporation to help them. How much of her loss may she deduct as an ordinary loss?
there is a high school accounting intern working in your office for the summer. in the lunchroom she overhears people
Which of the following is the most important audit consideration when examining the stockholders' equity section of a client's balance sheet?
An investor recently purchased a corporate bond which yields 9 percent. The investor is in the 36 percent combined federal and state tax bracket. What is the bond's after-tax yield?
Calculate the inventory turnover ratio, days in inventory, and gross profit rate for PepsiCo., Inc. for 2007, 2008, and 2009. Comment on any trends.
In addition Larry's car (15000 value cost 2000) was stolen during the year, and the insurance reimbursement was only 7000. He also had 2000 of travel expenses related to his job not reimbursed.
gannon company establishes a 400 petty cash fund on september 9. on september 30 the fund shows 166 in cash along with
columbia enterprises is studying the replacement of some equipment that originally cost 74000. the equipment is
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