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Assume that Chang Corp. earned net income of $3,335,000 during 2012. In addition, it had 104,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2012. Compute earnings per share for 2012, using the weighted-average number of shares determined in part (a).
Do you think this makes sense? How much of the internal control details should the managers know given that they will have to sign documentation attesting to the efficiency of internal controls?
Journalize May transactions. post entries to general ledger, Prepare trail balance ,Prepare income statement, owners' equity statement and balance sheet.
Read Georgina Safe s article Change of mind gives gallery a $1m surprise in Financial Accounting in the News 16.2 and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would tha..
The left-hand side of an account is used in recording debits, and the right hand side is used for recording credits in, Which of the following is NOT a basic function of an accounting system:
John Roberts is 60 years old and has been asked to accept an early retirement from his company. The company has offered John three alternative compensation packages to induce John to retire.
Briefly discuss the economic, political, educational, family, and marital systems of a country of your choice. When doing business in the chosen country, what kind of social hierarchies and social interactions should you be aware of?
Analyze the risks in the systems that your team analyzed. Identify all risks and internal control points by incorporating the controls and risks into the flowcharts.
Last year, Loon sold an appreciated asset for $600,000 (basis of $200,000). Payment for one half of the sale of the asset was made this year. How much of Wendy's distribution will be taxed as a dividend?
Crown Industries has the following information about its standards and production activity for December-Assume the allocation base for fixed overhead costs is the number of units to be produced.
Gordon uses a minium desired rate of return of 12% for selecting new projets and for evaluating the three divisions using residual income (RI). The firm's weighted-average cost of capital is 8%.
Discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. If an entity was perceived to be short term, what effect would that have on the accounting system?
Describe what entry must Sam's Painting Service make on December 31 before financial statements are prepared?
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