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Incentive Corporation was organized in 2009 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $4 per share. 12,000 shares. During the first year, the following selected transactions were completed: a - Issued 6,000 shares of common stock for cash at $20 per share. b - Issued 2,000 shares of common stock for cash at $23 per share. Required: 1 - show the effects of each transaction on the accounting equation. 2 - Give the journal entry required for each of these transactions. 3 - Prepare the stickholders' equity section as it should be reported on the 2009 year-end balance sheet. At year-end, the accounts reflected a profit of $100. 4 - Incentive Corporation has $30,000 in the company's bank account. Should the company declare cash dividends at this time? Explain.
How much of Kens expenses for the four-day conference and the week exploring Gettysburg can he deduct as unreimbursed travel expenses for business purposes?
the questions in this exercise are based on fedex corporation. to answer the questions you will need to download fedexs
franklin paper company manufactures newsprint. the product is manufactured in two departments papermaking and
write a 300-word summary that addresses the following criteriadefine statistics.identify different types and levels of
The maturity date of the note is September 30. What entry does Gilliam make at the maturity date, assuming Perlman pays the note and interest in full at that time?
What would be the effect of the project on 2009 operating income under the percentage-of-completion method and the completed contract method?
Compute the present value of the receivable on Biotech's books for January 1, 2006 immediately after receiving the $1million down payment.
on december 1 2009 a u.s.-based company entered into a three-month forward contract to purchase 1 million mexican pesos
part 11 what is the break-even point bep and why is it important?2 what is the contribution margin cm and why is it
fionnula co. uses a periodic inventory system. its records show the following for the month of may in which 65 units
Delmar's forklift cost $33,600, had accumulated depreciation of $27,600, and has a fair market value of $3,600. Hamilton's forklift cost $25,200, had accumulated depreciation of $21,600, and has a fair market value of $3,600. a- journalize the exc..
On January 1, 2010, Fishbone Corporation sold a building that cost $262,300 and that had accumulated depreciation of $101,600 on the date of sale. Fishbone received as consideration a $251,400 noninterest-bearing note due on January 1, 2013.
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