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Question - Warrior Corp. has 26,000 common shares outstanding. Warrior distributes a 10 percent stock dividend when the market value of its shares is $24.00 per share.
1. Journalize Warrior's declaration of the stock dividend on July 31, 2020, and the distribution of the stock dividend on August 30, 2020. Explanations are not required.
2. What is the overall effect of the stock dividend on Warrior's total assets? On total shareholders' equity?
Farina Foods manufactures a dog food product called Special Scoops. Farina currently has 20,000 bags of Special Scoops in inventory. The variable production costs per bag are $1.50 and total fixed costs are $20,000 per period. The dog food can be sol..
Entity A applies PFRS 15 and estimates that only 80% of the cash discount will be taken. How much net revenue is recognized on Dec. 31, 201x1?
Recognize revenue when (or as) the entity satisfies a performance obligation. Please just define the decision making process used to determine
Interest for 6 months at 6% per year on the note is unpaid and unrecorded at year end - Advertising of $14,874 remained unused at the end of 2013.
The Hans Company issued 10% bonds, dated January 1, 2019 with a face amount of $8 million. The bonds mature on December 31, 2028 (10 years).
Compute the net interest expense to be reported for this note and related swap transactions as of December 31, 2014.
Maureen Shelley is controller of Optus Communications. Optus manufactures cell phones. She has prepared a list of typical costs incurred by the business. Review the list and determine whether each cost is a product cost or period cost. For product co..
Determine Increase in share premium on issuance after the pre-termination on January 1, 2021 and Gain (loss) on January 1, 2021 due to pre-termination of bonds.
What are earmarks in government expenditures and what are their pros and cons? What is discretionary spending and what are their pros and cons?
If a firm's forecasted sales are $320,000 and its break-even sales are $220,800, the margin of safety (in dollars) is:
What are the possible alternatives under GAAP, evaluate those alternatives and provide a recommendation that is supported by your analysis and/or case facts
What factors should be considered in determining the issue price of a debenture. Provide the journal entries at:1 July 2018, 30 June 2019, & 30 June 2020.
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