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Question: On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred.
Apr: 1 Issued 25,000 additional shares of common stock for $ 17 per share.
June: 15 Declared a cash dividend of $1 per share to stockholders of record on June 30.
July 10: Paid the $1 cash dividend.
Dec: 1 Issued 2,000 additional shares of common stock for $ 19 per share.
15 Declared a cash dividend on outstanding shares of $ 1.20 per share to stockholders of record on December 31.
Instructions: a. Prepare the entries to record these transactions.
b. How are dividends and dividends payable reported in the financial statements prepared at December 31?
The adjusted trial balance of Karise Repairs on December 31, 2013, follows.
Under GAAP is this asset impaired, What value should Gandoff show this asset at
lamont works for a company in downtown chicago. the firm encourages employees to use public transportation to save the
tytus co. entered into the following transactions involving short-term liabilities in 2010 and 2011. 2010 apr. 20
xct manufacturing co. increased its merchandise inventory by 17000 over the year. the company also granted its
on december 312011 ace management co. prepared an adjusting entry to accrue 9800 of earned but unrecorded rent
radley and smithers share income and losses in a 21 ratio after allowing for salaries to radley of 24414 and 30821 to
Last year Vera Corporation budgeted for production and sales of 20,000 cloth handbags. Vera produced and sold 19,250 handbags. Each handbag has a standard requiring 4 feet of material at a budgeted cost of $2.50 per foot and 45 minutes of sewing t..
autumn cove inc. has 2010 in the december 1 balance of the accounts receivable account consisting of 880 from the
The FASB requires a reconciliation between the effective tax rate and the federal government’s statutory rate. Of what benefit is such a disclosure requirement?
During 2014, Nebraska Wheat Company, a maker of whole-grain products, had sales of $426,500. The ending balance of accounts receivable was $127,400 in 2013 and $96,200 in 2014.
Poe Company is considering the purchase of new equipment costing $89,000. The projected annual cash inflows are $39,200, to be received at the end of each year.
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