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On January 1, 2019, Thallium Company reported the following issues of share capital:
During 2020, the entity reacquired 50,000 shares at P20, and these were reissued at the beginning of 2021 at P25 per share.
Required:
Problem 1: Prepare journal entries to record the foregoing transactions assuming:
a. The share has a P15 par value.
b. The share is no par with stated value of P20.
If a company increases its selling price by $2 per unit due to an increase in its variable labor cost of $2 per unit the break-even point in units will
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If goodwill is to be debited to the partnership, show your calculation of how you arrived at the amount of goodwill in your journal entry
During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
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last month 22000 pounds of material were purchased and 18000 pounds were used. if the actual cost per pound of the
Paid income taxes of $20,000, and had before tax interest expense of $17,500. Use this information to determine the Times Interest Earned Ratio
They negotiated a rate of 5% per annum. What will the annual payments be, assuming payments are made annually at the end of the year
one company purchases all of the outstanding shares of another company. the acquiring company incurs the following
If Lisa Inc. had allocated overhead costs based on direct labor hours, what did the company use for its predetermined manufacturing overhead rate?
What is the firm's expected, or required, return on equity using a dividend discount model approach? Use this formula : ke = D1/P0 + g
On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. Prepare the General Journal entries for January
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