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At December 31, 2012, Beta Corp had 500,000 common shares outstanding, 400,000 of which were issued and outstanding throughout the year and 100,000 of which were issued on October 1, 2012. Net income for the year ended December 31, 2012, was $510,000. There are no preferred shares issued. Basic earnings per share for 2012 would be ??
During the year, accounts receivable decreased $7,000, merchandise inventory increased $5,000, accounts payable increased by $10,000, and depreciation expense of $5,000 was recorded. During 2007, operating activities:
James purchased a new business asset (three-year property) on July 23, 2009, at a cost of $50,000. He did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Determine the cost recovery deduction for 20..
Compute the income or loss before taxes recorded by Krawczyk for the years ended December 31, 2011, and 2012,as a result of the above transaction, assuming that the installments are collected as due under the contract.
Which method is generally accepted? Why do you think this method is generally accepted? Explain your position.
Senior sold all of these goods in 2011. How should Perez report the effect of the intra-entity sale on its 2011 income statement?
If a stockholder receives a dividend that reduces retained earnings by the fair market value of the stock, the stockholder has received a
The company expects to sell 20% of its merchandise for cash. Of sales on account, 50% are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the following month. Prepare a schedule indicati..
Discovery Barn, a not-for-profit science center for children, received a contribution for $30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..
would an increase in variable costs cause a company's break-even point to increase or decrease? why?
At the end of the year, Watkins still holds only $20,000 of merchandise. What amount of unrealized grass profit must Panner defer in reporting this investment using the equity method?
a. What issues should the CEO of Nextel consider when deciding whether to adjust Kraft's bonus plan? Do you think the plan should be adjusted? Why? b. Why might it be value increasing for the firm to make Kraft accountable for such events?
On August 10, Jameson Corporation reacquired 8,000 shares of its $100 par value common stock at $134. The stock was originally issued at $110. The shares were resold on November 21 at $145. Provide the entries required to record the reacquisition ..
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