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Point 1: ABC Corp and XYZ Corp are are publicly traded companies, that is, investors can trade (buy and sell) shares of these firms via a stock exchange. ABC Corp. releases its financial statements, on the evening of Jan. 1, 2020, for the quarter ending in Dec. 31, 2019, and reports $1 billion in net income. XYZ Corp, on that same evening, releases its financial statements for the same period and also reports $1 billion in net income. What is strange is that after the release of financial statements, the next morning, ABC Corp. sees its stock price go up radically while XYZ Corp. sees a sharp decline in its stock price.
Question 1: Now, what does that mean? Is financial statements irrelevant in terms of determining stock price? Who uses financial statements? Is it even useful for investors after all?
Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the ..
Explain the relationship between the acquisition and payment cycle and the inventory and warehousing cycle in the audit of a manufacturing company
Phildell Phoenix is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,288. FICA tax for social security is 6.2% and the FICA tax for Medicare is 1.45%.
Compute Randolph Company's current income tax expense.
At the time of the accident, it was worth $14,000 and Alicia had taken $2,000 of depreciation. After the accident, it was worth $5,000. The car was not insured. If Alicia's AGI is $15,000 (before considering the loss), determine her itemized deduc..
Paul has claimed straight-line depreciation on the building of $54,000. What is the amount and nature of Paul's gain on the sale of the rental property
Determine whether Ultima Company should recognize revenue from the sale of goods at the time title passes to the customer or whether it should defer revenue.
on april 15th 2012 the board of directors for auction.com declared a cash dividend for 40 cents per share payable to
As of January 31, what will be the balance in the Manufacturing Overhead account after the application of the overhead from part a
esteban appleby certified public accountant is an assistant to the controller of summerfield consulting co. in his
steve and linda hom live in bartlesville oklahoma. two years ago they visited thailand. linda a professional chef was
snake creek company has one trusted employee who as the owner said handles all of the book-keeping and paperwork for
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