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On January 15, 2009, Tallyho Corp. incorporated in Georgia and was authorized to issue 3,000,000 shares of common stock. In an initial public offering. Tallyho sold 1,350,000 shares of common stock for $18 per share. (a) Prepare the journal entry to record the sale of the stock if Tallyho's common stock 1.) has a $0.50 par value. 2.) has a $3.00 par value. 3.) is no-par value. (b) Explain why selling common stock at more than par value does not increase net income for the period.
(a) Determine the total estimated uncollectibles. (b) Prepare the adjusting entry at March 31, 2007, to record bad debts expense. (c) Discuss the implications of the changes in the aging schedule from 2006 to 2007
the following data has been taken from the management accounting reports from spinnaker sales. div a -income from
Recorded depreciation on the machine using the straight-line method
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Compute Garfield's budgeted purchases for March.
prepare an income statement statement of retained earnings and balance sheet. to do so you will need to determine the
Identify the shortcomings in the payroll procedures used in the payroll department of the Galena plant and suggest corrective actions.
Estimate the manufacturing costs if Robert's produces 100,000 widgits in January. Estimate the manufacturing costs if Robert's produces 120,000 widgits in February.
on january 1 2013 when the market interest rate was 9 percent seton corporation completed a 200000 8 percent bond issue
a how much net income does the company earn from each dollar of sales?b is the company financed primarily by debt or
tax rates latesha a single taxpayer had the following income and deductions for the year 2012. income salary 60000
Does management's assessment of the financial condition agree with your assessment from the Financial Statements Paper Part I? Explain. Support your answer by using two of the three following analysis tools - trend, vertical, or ratio analysis.
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