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The charter of a corporation provides for the issuance of 109000 shares of common stock. Assume that 59000 shares were originally issued and 4700 were subsequently reacquired. What is the number of shares outstanding?
a.63700
b.59000
c.4700
d.54300
Yale requires a modification of the design that will allow a $4 reduction in direct-material cost.
Gold Company was experience financial difficulties, but was not bankrupt or insolvent. The National Bank which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000.
Kordel Inc. holds 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be elimi..
Prepare the journal entries that should be made to record the expenditure of $100,000 on activities related to the legal assistance program. Prepare the journal entries that should be made upon receipt of the $100,000 check, assuming that it was r..
Which of the following will have no effect on an employee's take-home pay?
To the nearest whole dollar how large would the salvage value of the equipment have to be to make the investment in the equipment financially attractive?
What is the difference between a value-added and a non-value-added cost? Give an example of each. Participate in follow-up discussions by reviewing your classmates' posts and expanding upon what they have written regarding value-added and non..
When the present value analysis of a proposed investment results in an indication the proposal has a rate of return greater than the cost of capital, the investment may not be made because:
Land was acquired for $200,000 in exchange for common stock, par $200,000, during the year; all equipment purchased was for cash. Equipment costing $20,000 was sold for $8,000; book value of the equipment was $16,000 and the loss was reported as a..
The options are exercisable between January 1, 2014, and December 31, 2016, at 81% of the quoted market price on January 1, 2011, which was $16. The fair value of the 20 million options, estimated by an appropriate option pricing model, is $6 per ..
Elk, a C corporation, has $500,000 operating income and $350,000 operating expenses during the year. In addition, Elk has a $20,000 long-term capital gain and a $52,000 short-term capital loss. Elk's taxable income is:
On January 3, 2011, Willis Company purchased 3,000 of the 10,000 outstanding shares of Demi Corp for $300,000. On October 31, 2011, Demi Corp declared dividends of $40,000 and on December 31, Demi Corp had net income of $800,000. What entry would ..
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