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Prepare journal entries to record the following four separate issuances of stock.
1. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value.
2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has a $2 per share stated value.
3. A corporation issued 5,000 shares of $30 par value common stock for $180,000 cash.
4. A corporation issued 1,250 shares of $100 par value preferred stock for $168,500.cash.
Sigfried Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. Prepare the journal entry to record the proceeds of the note.
Evaluate her entry date into the plan and determine Harriet's vesting years as of 31 st December, 2000
In considering the decision to continue or discontinue a segment of the business, the business should focus on:
Compute the equivalent units of production for the first department for April, assuming the company uses the weighted-average method of accounting for units and costs.
It now needs to identify relevant activity cost drivers in order to assign overhead costs to its products. Using the activities listed below, identify for each activity one or more cost drivers that might be used to assign overhead to Mallory Luon..
Neffer Services Inc. leases access to high-speed computers to small businesses. It provides the following information for the year.
Evaluate and analyze how the U.S. can manufacture direct materials for technology products in the global marketplace at competitive costs.
What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making?
If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
A toy company has been marketing souvenir toys in conjunction with various professional sports teams in a number of cities. Over the past few years, this experience has provided some data on the effect of advertising on sales revenues because the ..
Wenger Company reported income before taxes of $600,000 and an extraordinary loss of $150,000. Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income before irregular items and extraordinary ite..
A financial manager is planning two projects, A and project B. A is expected to add $2 million to profits this year while B is expected to add $1 million to profits this year.
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