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Problem - The common stock of Brandy, Inc is currently selling at $120 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. Nine million shares are issued and outstanding.
Required: Prepare the necessary journal entries assuming the following.
(a) The board declares and issues a 2-for-1 stock split.
(b) The board declares and issues a 100% stock dividend.
(c) Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.
tim don and hans are partners with capital balances of 30142 23668 and 53768 respectively. they share income in the
Liz and John formed the equal LJ Partnership on January 1 of the current year. Liz contributed $80,000 of cash and land with a fair market value of $90,000 and an adjusted basis of $75,000. John contributed equipment with a fair market value of $170,..
The books of the Brownstone Old Boys' Social Club at 31st December 1962, showed the following balances.
A product sells for $200 per unit, and its variable costs per unit are $130. The fixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold?
since the club opened a major concern has been the pool facilities. although the exist- ing pool is adequate mindy
Show how the above accounts should be presented on the December 31, 2017, balance sheet, including the proper classifications
access the internet to acquire a copy of the most recent annual report for the publicly traded company used to complete
George purchases used office furniture (seven-year class property) at a cost of $50,000 on April 20, 2009. Determine George's cost recovery deduction for 2009 for alternative minimum tax purposes, assuming George does not elect § 179 and the maxim..
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Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander. Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
Prepare a statement of cash flows for the year ended December 31, 2015 using the indirect method. Explain the change in the investment account for the year
Prove the financial ability of this firm to execute this vision and strategy using tools, skills, and knowledge learned in the MBA program. You must provide hard numbers to defend your position.
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