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The common stock of Warner Inc. is currently selling at $110 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. Five million shares are issued and outstanding.
(a) How much is the debit to retained earnings if the board votes a 2-for-1 stock split?
(b) Prepare the necessary journal entries if the board votes a 100% stock dividend.
The text book says that Maria owns 100% of stock with adjusted basis of $52,000 she recieves a cash distribution of $250,000 from the company when its earnings and profits are $100,000. What is Maria's dividend income?
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Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses.
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starmart manufactures skateboards. the company has a highly automated production process so itallocates manufacturing
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