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The following events occurred during 2014 and were not recorded: a. On January 1, Frick declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25. b. On February 15, Frick reacquired 1,000 shares of common stock for $20 each. c. On March 31, Frick reissued 250 shares of treasury stock for $25 each. d. On July 1, Frick reissued 500 shares of treasury stock for $16 each. e. On October 1, Frick declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15. f. One December 15, Frick split common stock 2 shares for 1. g. Net Income for 2014 was $275,000. Requirements: a. Prepare journal entries for the transactions listed above. b. Prepare a Stockholders' section of a classified balance sheet as of December 31, 2014.
assume the mountain furniture company sells two kinds of tables oak and pine. at a 11 one-to-one unit sales mix in
The income statement for Roland Inc. shows income before income taxes $700,000, income tax expenses $210,000, and net income $490,000. If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstand..
daniel and tara borrow 250000 to purchase a frozen yogurt franchise business. they signed a note due in ten years with
reck company receives a 10000 3-month 8 promissory note from fey company in settlement of an open accounts receivable.
the charter of a corporation provides for the issuance of 100000 shares of common stock. assume that 45000 shares were
on january 1 2012 loop raceway issued 650 bonds each with a face value of 1000 a stated interest rate of 7 paid
Explain the significance of this transaction to an analyst. Explain the consequences of poor quality reporting. What has the U.S. government done to improve the quality of reporting after recent financial scandals, such as Enron?
The president says to choose the allocation base that results in the highest income. Is this an apporiate basis for choosing an allocation base?
2.alpaca corporation had revenues of 295000 in its first year of operations. the company has not collected on 19800 of
If the holding company owns more then 50% but less then 100% shares of the subsidiary company then the subsidiary type will be termed as:
find a line item listed on either the income statement or blance sheet that would indicate an adjusting entry was
1. a construction company entered into a fixed-price contract to build an office building for 44 million. construction
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