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Inland Machine Tool, Inc., is authorized to issue 700,000 shares of $5 par common stock. The company issued 71,000 shares at $5 per share, and all 71,000 shares are outstanding. When the market price of common stock was $9.00 per share, Inland Machine Tool, Inc., declared and distributed a 15% stock dividend. Later, Inland Machine Tool, Inc., declared and paid a 0.40 per share cash dividend.
1. Journalize the declaration and distribution of the stock dividend.
2. Journalize the declarationa and the payment of the cash dividend
barnett industries inc. issued 600000 of 8 bonds on january 1 2013. the bonds pay interest semiannually on july 1 and
Can you describe a time when you set out to acheive a goal and you needed to work with a group of people to achieve that goal? What do you think makes a good team member?
the may 1 work in process inventory consisted of 105000 pounds with 219450 in materials cost and 134400 in conversion
Prepare a journal entry required on Dexter's books on May 1. Prepare the journal entry required on quick's finance books on may 1.
darby sporting goods inc. has been experiencing growth in the demand for its products over the last several years. the
Identify the principles of internal control: Culottis Oizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter, the customer can see other employees m..
Company A hired Q to perform its year end audit. Subsequent to the compleation of field work, but prior to the issuance of the finicial statements, A discovers that one of its customers has filed for bankruptcy protection.
private company where the group contributing the money has only 3 x $2 shares. ie: what are the specific journal entries, particularly if that amount is not shown in the "bank" account
nbspfoundational 10-1cane company manufactures two products called alpha and beta that sell for 120 and 80
If Job M1 resulted in 7,000 good jeans, what would be the cost of goods sold per unit? Show your work.
Madtack applies manufacturing overhead cost to jobs at the rate of 55% of direct labor cost incurred. The company does not close underapplied or overapplied manufacturing overhead to Cost of Goods Sold until the end of the year.
Open the Allowance for uncollectible accounts T-account, and post entries affecting that account. Keep a running balance. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2012 balance sheet. Use the ..
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