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On January 1, 2007, Yarrow Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 600,000 of its own outstanding shares and retired them.
Instructions
Compute the weighted average number of shares to be used in computing earnings per share for 2007.
Assuming Gould's sells this item for $23 per unit, prepare summary journal entries for the period's purchases, sales, and sales returns.
What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?
Determine the number of statues that must be sold in order to have a profit of at least $2000. Show all supporting work (graphs, etc.).
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Prepare the journal entries to record the sale, purchase, and adjusting entries related to the trading securities in the last quarter of 2010. How would the entries in part (a) change if the securities were classified as available-for-sale?
Financial statement users often liken accounting standard setting to a political process. One user asserted that: My view is that the setting of accounting standards is as much a product of political action as of flawless logic or empirical findin..
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