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On January 2, 2017, the first year of operations, Alpha Corp. issued $15,000 shares of $10 par value common stock for $15 per share. On July 1, 2017, Alpha Corp, 1,000 of these shares were reacquired for $20 each. On September 1, 2017 Alpha Corp. reissued 500 shares of its treasury stock for $22 per share. No other stock transaction to determine the dollar amounts that Alpha will report on its fiscal year 2017 Balance Sheet.
Internal Controls are required to safeguard assets and to ensure ethical business practices. (1) Identify and explain the reason for any two of the seven internal control procedures (10 points) and (2) provide examples of how your two selected intern..
What is the tax concepts involved in completing the Schedule D? Explain in detail. What are the tax planning considerations you took into account while completing the Schedule? What are the various steps and the calculations for each step you made wh..
What is your assessment of the company's financial performance in its first year of operations
Windsor Corporation is being organized in 2013 and will begin operations at the beginning of 2014. What amounts should be charged to the Organization Expense account in 2013?
Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750 and the purchase of a computer printer on account for $500 was recorded as a debit to Suppl..
On February 1, 2014, Frick began a service proprietorship with an initial cash investment of $2,000. The proprietorship provided $5,000 of services in February. In the proprietorship's financial statements for the two months ended March 31, 2014 prep..
ACCT 2110- Calculate Total Assets on December 31, 2016. Calculate Income from Operations for the year ending December 31, 2016. Calculate Ending Retained Earnings on December 31, 2016.
If you sell the house (options A and B), you will have to pay realtor's fees and taxes, which amount to 8% of the selling price. What is the opportunity cost of options A and B?
Briefly discuss whether the company's first month of operations was a success - In June, the company issued no additional stock but paid dividends of $1,400
What is the maximum machine operating cost of the overhauled AccuDril for the replacement decision to be an incorrect financial decision?
The Accounting Equation is used to develop the organization's financial reports. (1) Describe what liabilities value would be if Assets are $50,000 and Owners' Equity is $25,000 by showing the Accounting Equation (10 points) and (2) provide an exampl..
What is the labor rate variance for the month and what is the labor efficiency variance for the month?
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