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ICOT Industries issued 15 million of its $1 par common shares for $424 million on April 11. Legal, promotional, and accounting services necessary to effect the sale cost $2 million. Required: 1. Prepare the journal entry to record the issuance of the shares. 2. Explain how recording the share issue costs differs from the way debt issue costs are recorded.
Make all related journal entries in journal form for this purchases and the related payment.
Find a real-life outsourcing decision that has been made. Find the specific reasons for the outsourcing.
The company's fiscal year ends on February 28. Debbie's sold 500 shares of common stock at $6 per share on April 1. Illustrate what impact does the entry to record the April 1 transaction have on total stockholders' equity?
Evaluate the full unit product costs for Widgets and Gadgets using the traditional costing system and Find the full unit product costs for Widgets and Gadgets using the ABC system.
Are the depreciation techniques used in the company's financial statements evaluated by existing income tax laws? If not, who is responsible for choosing these methods? Describe.
Prepare General Journal entry, General Ledger entry and Unadjusted Trial Balance.
The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, thus, can be ignored.
What will Ricky and Lucy's new monthly payments be? (Please be sure to show how calculations are made.
Prepare the journal entry under basis 2, assuming that Chester Company did not remit payment until July 29.
Overhead allocation plant wide rate direct labor hours Machine hour basis - Top management complains that if the accountants had been more accurate in estimating overhead then they wouldn't have over applied overhead. Is this true? Explain.
In Company's 2014 statement of cash flows, total cash used in investing activities should be?
Purpose a Statement of Revenues, Changes and Expenditures in Fund Balance for the debt service fund
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