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A company issued 10000 cumulative preferred shares with a dividend rate of $5 per share. Dividends were declared and paid by December 2017 and were recorded through retained earnings. How do we record these shares and are they part of debt
Compute the following items for the statement of cash flows: Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sol..
On June 30, 2016, Kerr Industries had outstanding $40 million of 8%, convertible bonds that mature on June 30, 2017. Interest is payable each year on June 30 and December 31. The bonds are convertible into 2 million shares of $10 par common stock. At..
Explain why that entry is wrong and prepare the correct journal entry. Why does the bank refer to cash received from a customer as a credit to that customer's account?
George Corporation has an estimated monthly sale of 20,000 units for $64 per unit. Variable costs include manufacturing costs of $35 and distribution costs of $13. Fixed costs are $80,000 per month. Unit contribution margin. Monthly break-even unit s..
Given the data above, are there any Temporary Differences Yes or No Circle One Can Joey Co. utilize the Tax law provisions that allow for a Loss Carry-back? Yes or No Circle One Prepare the appropriate entry to record Joey Co's 2015 Income taxes.
Ann Kyser, a teacher at Hewitt Middle School, is in charge of ordering the T-shirts to be sold for the school’s annual fund-raising project. The T-shirts are printed with a special Hewitt School logo. If the school receives actual sales orders for 7..
The Assembly Department uses a process cost accounting system. The department adds materials and incurs conversion costs uniformly throughout the process. During May, $200,000 of materials costs and $95,000 in conversion costs were charged to the dep..
Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
jordan the owner of unique sinks realizes that if he withdraws the full amount of dividend and if the slump in housing
Using Excel, prepare a vertical analysis of the 2015 income statement and balance sheet of Bank of America.
While there are a variety of management tools that are available to managers, choosing only one tool is best in the best decision making process to allow for consistency. The art of decision making may be perfected with time, as all decisions are rel..
On September 1, 2015, Jefferson Corporation sold $265,000 of xray equipment to Einstein General who agreed to pay within 30 days. Additionally, if Einstein paid within 5 days they would receive a 2% discount.
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