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At the beginning of the current fiscal year, the balance sheet of Arches Co. showed liabilities of $760,000. During the year liabilities increased by $20,000, assets increased by $110,000, and paid-in capital increased by $40,000 to $330,000. Dividends declared and paid during the year were $120,000. At the end of the year, stockholders' equity totaled $804,000. Calculate net income or loss for the year.
Submarine Corp., earned a net income of $110,000 for 2011. Submarine's books included the following figures: Preferred stock, 2%, $30 par, 1,000 shares issued and outstanding - $30,000. Common stock, $1 par, 52,000 issued - $52,000. Compute Submarine..
On April, 10 2010, Cougs Company issued for cash 20,000 shares of no-par common stock for $40. Journalize the entries to record the April 10, April 15 and May 1 transactions.
1- the balance sheet of red missile company contained the following items among othersa from the above information
Health has taken over from crime as the most important social issue seen to be facing Australia, figures showed yesterday.
Hawk Corporation redeems 75 shares of Sheldon’s stock for $75,000. Sheldon had acquired all of his shares 10 years ago at a cost of $100 per share. What are the tax consequences to Sheldon and Hawk Corporation as a result of the stock redemption?
Clearly Discuss below two potential non-misstatement timing differences that could cause a discrepancy between a client's receivable records and his/her customer's records.
Find how much does Bell report as Income from Demers for the year ended 31st December, 2011 and calculate the non-controlling interest of Demers at 31st December, 2011.
At the completion of the project, the machine will be sold. - Over how many years should the machine be depreciated?
Provide the journal entry to adjust the trading security portfolio to fair value on December 31, 2016.- What would be the journal entry to adjust the portfolio to fair value?
Determine the contribution margin per direct labor hour. Determine which product should be produced and the total contribution margin for that product.
Woodland Industries manufactures and sells custom made windows.
Governments are not required to accrue interest on long-term debt in governmental funds even if the interest is applicable to a current period and will be due the first day of the following year. Explain and justify the standards that permit this pra..
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