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Question - Distributing Corporate Earnings - During its first year of operation, Longhorn Corporation issued 17,500 shares of $10 par common stock. At the end of the year, the corporation had a net income of $350,000. The board of directors declared a cash dividend of $5 per share.
1. How much of the net income did Longhorn distribute to the stockholders?
2. How much of the net income did the corporation retain?
Inventory purchases during the year amounted to $75,000. There were no inventory-related write-downs or losses. What is its December inventory account balance
Todd and Gentry share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership
Calculate free cash flow for 2017 for Monarch Textiles, Inc., based on the financial information that follows. Assume that all current liabilities.
Presuming that Roberta is a cash basis and calendar year taxpayer, how much can she deduct as a charitable contribution for 2019
Calculating Payback Period and NPV: Porter, Incorporated has two exclusive projects, listed in the table below. Use the NPV rule to rank these two projects. If the appropriate discount rate is 13 percent, which project should be chosen? Problem 1...
On 1 April 2018, Kay purchases five assets for $2,000 each, What is the amount of depreciation of the assets which Kay can claim as deduction for 2019 income
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Janet sells a product for $6.25 per unit. The variable cost per unit is $3.75. Janet's breakeven units are 35,000. What is the amount of fixed costs
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nowak corporation produced 60000 units and sold 50000 for 10 per unit. variable manufacturing costs included d.
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Calculate the spending variances for March?Calculate the activity variances for March. The company had originally planned to work 20,000 machine-hours
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