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The stockholders' equity accounts of Lawrence Company have the following balances on December 31, 2010.
Common stock, $10 par, 200,000 shares issued and outstanding $2,000,000Paid-in capital in excess of par 1,200,000Retained earnings 5,600,000Shares of Lawrence Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases.
(a) A stock dividend of 5% is declared and issued.(b) A stock dividend of 100% is declared and issued.(c) A 2-for-1 stock split is declared and issued.
On January 1, 2012, Skyline Limousine Co. purchased a limo at an acquisition cost of $28,000. The vehicle has been depreciated by the straight-line method using a 4-year service life and a $4,000 salvage value. The company's fiscal year ends on De..
old alabama company purchased investments for 45000 and plant assets for 127000 during the current year during which it
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The balance sheet for Reading Company reports the following information on July 1, 2010. Reading decides to redeem these bonds at 102 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2010.
What are reversing entries? Why are reversing entries needed? What would be the impact if not made? What are the pros and cons of using reversing entries? What types of transactions may require reversing entries?
If it has been done properly, then why must you spend so much time and make so many changes to the amounts reported by the individual companies when you prepare the consolidated financial statements each month? You should be able to just add the r..
salter mining company purchased the northern tier mine for 21 million cash. the mine was estimated to contain 2.5
sam small is 34 years old. his wife died last year. he lives with his son sonny in a two family house. his father sid
Brandeis Corporation has two production Departments: P1 and P2 and two service departments: S1 and S2. Direct costs for each department and the proportion of service costs used by the various departments for the month of July are as follows:
Find the contribution margin per haircut. Assume that the barbers' compensation is a fixed cost. Show calculations to support your answer.
the cost of goods sold in march 2010 for targe co. was 2644100. march 31 work in process inventory was 25 percent of
Characters: Chris, New Distribution Supervisor at a large candy manufacturer Bob, Inventory Control Manager, Chris's immediate boss Chris has been recently hired as the Distribution Supervisor for an international candy company. The plant is in a ..
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