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During 2013, the following selected transactions affecting stockholders' equity occurred for Corner Corporation:
Issued 60 more of the shares purchased on February 1 for $15 cash per share.
1) Indicating the account, amount, and direction of the effect (+ for increase and ? for decrease) for the above transactions.
2) Prepare the indicated journal entries for each of the transactions (a) record the purchase of 400 shares of previously issued common stock for a price of $20 per share (b) record the re-insurance of 100 shares of treasury stock previously purchased for a price of $20 per share and sold for a price of $30 per share (c) record the re-insurance of 60 shares of treasury stock previously purchased for a price of $20 per share and sold for a price of $15 per share
at january 1 2010 xyz company reported total assets of 400000 total liabilities of 150000 and total equity of 250000.
Apart from its investment in Starr, Harrison had income of $220,000 in 2011 and $260,000 in 2012.
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The fair value of all Hathaway's identifiable tangible and intangible assets was $48,000,000. Short will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition?
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