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Cyan Corp. issued 20,000 shares of $5 par common stock at $10 per share. OnDecember 31, year 1, Cyan's retained earnings were $300,000. In March year 2, Cyan reacquired 5,000 shares of its common stock at $20 per share. In June year 2, Cyan sold 1,000 of these shares to its corporate officers for $25 per share. Cyan uses the cost method to record treasury stock. Net income for the year ended December 31, year 2, was $60,000. At December 31, year 2, what amount should Cyan report as retained earnings?
In addition, the company had outstanding all year a 10%, 3-year, $4,000,000 note payable and an 11%, 4-year, $7,500,000 note payable. What are weighted-average accumulated expenditures?
Evaluate the profitability of each product after allocating joint costs.
crane mechanics acquired 75 percent of downey enterprises on march 31 2005 for 3645000.downeys book value at that date
Compute the company’s after- tax cost of borrowing on this bond issue stated as a percentage of the amount borrowed. Describe briefly advantage of raising funds by issuing bonds as opposed to stocks.
UPS Store prints business cards, brochures, and sells stationary. UPS plans to sell 80 jobs this up coming week at an average cost of $52 apiece. Expenses amount to $1840 each week. How much must they charge for each job to break-even? If they wish t..
Do an extensive research on BCL's external environment, including the economy and the industry that the company is operating in.
A company pay for 25% of its purchases by credit terms n/60, 40% of its purchases by credit terms n/30, and the remaining 35% by a two-month advance payment. The sources for June's cash payments schedule for direct materials would not include which o..
After the partnership has been operating for a year, the Capital accounts of Bob and Kim are $15,000 and $10,000, respectively. Sonia buys a one-fourth interest in the partnership by investing cash of $5,000. Prepare the entry in journal form to reco..
Evolutionary explanations for behavior make some people uncomfortable because we like to think that we do things because we want
Calculate Direct material usage variance, Direct labor efficiency variance, Direct labor rate variance and Selling price variance.
Pure Water Products produces two types of water filters. One attaches to the faucet and cleans all water that passes through the faucet. The other is a pitcher-filter that only purifies water meant for drinking. Calculate the number of units of the p..
Prepare a cash budget for the months of January, February, and March. Determine the amount of additional bank borrowings necessary to maintain a cash balance of $50,000 at all times.
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