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Journalize the following selected transactions completed during the current fiscal year:Jan 3: The board of directors reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 400,000.Jan 22: Declared a dividend of $1.50 per share on the outstanding shares of common stock.Feb 8: Paid the dividend declared on Jan 22Sep 1: Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30)Oct 1: Issued the certificates for the common stock dividend declared on Sep 1
On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:
Compare and contrast the characteristics features of the securities of money market with those of the capital market.
What types of information must be disclosed in the management discussion and analysis? Explain.
After the events of September 11, we were without our securities markets for few days. Though, it was a difficult condition, the markets opened in a few days and we managed.
Write an analysis about test of liquidity that compare Best buy to Radio Shack and Conn's.
What does it mean to critically evaluate an economic event or resource in the context of an accounting standard and what is actually being evaluated and how?
Determine the accounting principles (GAAP) the foreign and domestic companies use to prepare financial statements.
The Heymann company's bonds have 4 years remaining to maturity. Interest is paid annually; the bonds have a $1,000 at maturity. Bond L has a maturity of 15 years, and Bond S a maturity of 1 year.
What is" balance sheet exposure". When converting a balance sheet from one currency to another currency what rate do we use? Are all balance sheet accounts adjusted as of the balance sheet date?
Prepare the adjusting entries using good form for each of the following situations as of January 31 (measurement date) for the one month of January
Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.
Determine for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $2,600,000. Discuss the advantages and disadvantages of each plan.
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