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At December 21, 2004, Marshall Company had 500,000 shares of common stock issued and outstanding, 400,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on October 1, 2004. Net income for the year ended December 31, 2004, was $765,000. What should be Marshall's 2004 earnings per common share, round to the nearest penny?
a. $1.53
b. $1.90
c. $1.80
d. $1.70
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A second-partner review of the audit documentation and financial statements is performed to ensure that the:
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Why does the direct write-off method of accounting for bad debts usually fail to match revenues and expenses?
Give the entries required for 2011 and 2012 to account for the 2,200 contracts.
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