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Elizabeth Company reported the following amounts in the stockholders' equity section of its December 31, 2010, balance sheet.Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000Common stock, $5 par (100,000 shares authorized, 20,000 shares issued) 100,000Additional paid-in capital 125,000Retained earnings 490,000Total $915,000During 2011, Elizabeth took part in the following transactions concerning stockholders' equity.1. Paid the annual 2010 $10 per share dividend on preferred stock and a $8 per share dividend on common stock. These dividends had been declared on December 31, 2010.2. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Elizabeth uses the cost method.3. Reissued 700 treasury shares for land valued at $30,700.4. Issued 500 shares of preferred stock at $107 per share.5. a 10% stock dividend on the outstanding common stock when the stock is selling for $50 per share.6. Issued the stock dividend.7. Declared the annual 2011 $10 per share dividend on preferred stock and the $8 per share dividend on common stock. These dividends are payable in 2012.(a) Prepare journal entries to record the transactions described above.(b) Prepare the December 31, 2011, stockholders' equity section. Assume 2011 net income was $330,000
Estilo Company has 3 operating segments with following information: What is the minimum amount of revenue that each of these segments must generate to be considered separately reportable?
Write down the difference between the budget and Comprehensive Annual Financial Report (CAFR)? Describe and provide examples.
You are in business of producing and selling 100-pound bags of health food for pet pigs. You plan to advertise that each bag will provide a pig its minimum weekly requirements of protein (200 grams), calcium (300 grams) and fiber (100 grams), and ..
a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.b. The company uses weighted-average process costing.c. The July 1 work in process was 30 percent complete as to c..
Laguna Corporation has provided the following data concerning its overhead costs for the coming year:The Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining cost..
Tunney Industries can issue perpetual preferred stock at a price of $50 a share. The issue is expected to pay a constant annual dividend of $3.80 a share.
Explain how the budget constraint of househould in two-period model is affected by each of the following changes. In each case, do you think the household is better off or worst off or is the answer ambiguous?
Davis Company manufactures used parts in production of widgets. When 10,000 items are produced, the costs per unit are:
Distinguish between cost and value and explain their relative significance in accounting?
Suppose you're a field marketing professional, responsible for marketing your company's products in South Florida region of medium-size corporation. One day you receive the CD from your corporate marketing group (based in Detroit, Michigan) which ..
1.nbspnbspnbspnbspnbsp ernest inc. has identified the following overhead costs and cost drivers for next
Write a one page memo to Marco, in Word, answering the following questions and list three management tools that Marco can use to evaluate whether the new warehousing center will be a good investment.
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