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1.Ava School of Learning obtained a charter at the start of 2010 that authorized 43,000 shares of no-par common stock and 24,500 shares of preferred stock, par value $8. During 2010, the following selected transactions occurred: Prepare Journal entries for each
a. Collected $44 cash per share from four individuals and issued 3,500 shares of common stock to each.b. Issued 6,000 shares of common stock to an outside investor at $44 cash per share.c. Issued 8,000 shares of preferred stock at $20 cash per share.Prepare journal entries for each of the transactions.
Variable selling costs are 10% of sales dollars. The company expects the annual fixed manufacturing costs for the new camera to be $3,500,000.
Prepare the necessary journal entry to closed the overhead account if the balance is considered immaterial.
the rent expense was 42000 and there was no beginning or ending balance in work-in-process inventory. using a two-stage
An acquaintance of yours is considering acquiring bonds as an investment. Your friend states "I will only invest in bonds that sell at a discount. I can't imagine why a person would pay more than maturity value for the bond. That appears to be pla..
Debt issued by Southeastern Corporation currently yields 12%. A municipal bond of equal risk currently yields 8%. At what marginal tax rate would an investor be indifferent between these two bonds?
enciso corporation is preparing its cash budget for november. the budgeted beginning cash balance is 31000. budgeted
Fred's interest is not considered to be a passive activity.If his share of the partnership losses is $35,000 in 2007 and$25,000 in 2008, how much can he deduct in each year?
Crawford Company has the following equivalent units for July: materials 10,000 and conversion costs 9,000. Production cost data are:
Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.
division a manufactures electronic circuit boards. the boards can be sold either to division b of the same company or
a companys average operating assets are 220000 and its net operating income is 44000. the company invested in a new
What is the term used to describe the owners equity section of a corporation and Identify the two owners' equity accounts in a corporation and indicate the purpose of each.
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