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Thrifty Co reported net income of 465,000 for its fiscal year ended Jan 31 2011. At the beginning of that fiscal year, 200,000 shares of common stock were outstanding. On Oct 31,2010, an additional 60,000 shares were issued. No other changes in common shares outstanding occured during the year. Also during the year, the company paid tha annual dvidident on the 25,000 shares of 7%, $40 par value preferred stock that were also outstanding the entire year.
A) calucate the basic earrings per share of common stock for the year ended Jan 31,2011
Discuss whether Loewen Group expansion from funeral homes to cemeteries affected its horizontal or vertical boundaries or both.
Robin Bradley received a paycheck from her employer in the amount of $776.35. The paycheck stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax and $74.65 had been wi..
Suppose a 40% income tax rate. The cumulative effect of this accounting change on beginning retained earnings is
Received inventory valued at $16,000 and equipment with market value of $9,500 for $3,700 shares of the $2.00 par common stock. Journalize the transactions and Prepare the stockholders equity section
What is the primary difference between agency funds and trust funds? What are the primary applications of each and how do the administrators of these funds assure responsible stewardship of their resources?
An analysis of the general ledger accounts indicates that office equipment which cost $68,000 and on which accumulated depreciation totaled $22,500 on the date of sale was sold for $39,600 during the year.
High-volume retailers generally use the retail method for valuing inventories Instead of the various cost methods. Identify and evaluate the conditions that may distort the results under the retail method.Compare the advantages of using the retail..
Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead.
Using the percentage of net sales method. uncollectible accounts expense for the year is $54000, balance of allowance for uncollectible is 18000 creedit befor adjustments what is the balance after adjustments?
As a result of a comprehensive analysis, it is determined that the December 31, 2011 balance of Allowance for Bad Debts should be $6,300. Show, in general journal format the adjustment required.
How do the calculation and comparison to previous years of the gross margin percentage and the ratio of accounts receivable to sales are related to the conformation of accounts receivable and other tests of the accuracy of accounts receivable?
A U.S. manufacturer has sold goods to a foreign firm for a sale price of 80,000 FC on 12/15/X1. The invoice is due 1/15/X2. The U.S. Firm fiscal year is 12/31/X1. Given the following exchange rates, what gain or loss would the U.S. firm record on ..
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