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Problem 1: Weston Western Wear (3W) has the following transactions. Record each one in the Accounting Equation along with the Associated T-Accounts
1. Issues 10,000 shares of $10 par value stock for $75 per share
2. Performs a 2-for-1 stock split by doubling the shares and halving the Par Value per share to $5.
3. Repurchases and holds in Treasury 3000 shares for $43 per share
4. Issues 1000 shares out of Treasury to employees who exercised options at a cost of $37.50 per share. Record any difference between Treasury Stock cost and issuance price in Retained Earnings.
5. Retired remaining Treasury shares electing to reduce Par Value and APIC by the original issuance price of the stock from transaction1 with the remainder going to Retained Earnings.
Suppose your tax bracket is 28%. you prefers to earn a 6% taxable return or a 4% tax-free yield? What is the equivalent taxable yield of the 4% tax-free yield?
The Adama City Municipality estimates revenues for the fiscal year,Record the estimated revenues of the Adama City on General Ledger & Subsidiary Ledger.
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 64,000 were in process in the production department at the beginnin..
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct labor usage is: Debit Work in Process Inventory $171,000; credi..
Determine the flexible-budget amount for equipment depreciation in September. Compute the spending variance for the depreciation expense on equipment.
A New Zealand company has a foreign denominated asset in United States dollars worth US$600,000 on the 1 July 2016. The US debtor is due to repay this debt to the New Zealand company over the next 12 months. Describe what each party to the contract w..
Determine the income from operations for each segment. Use the DuPont formula to determine the return on investment for each segment.
A&B Corporation acquired Shoe Corp. on January 1, 2019 for $8,000,000, What amount of loss on impairment of goodwill should Gaylords record in 2019
The equipment costs $1,000,000 and, if it were purchased, What are the four primary types of leases, and what are their characteristics?
After reading the company’s background information in each scenario, complete the corresponding tasks. Bright company has several employees. The employees are entitled to a pension, which is set up as a defined contribution plan. Based on a formula, ..
At that date, the fair value of Shaw's property, plant and equipment exceeded its carrying amount by $400,000. In its November 30, year 1 consolidated balance sheet, what amount should Parlor report as goodwill?
Prepare an income statement for Rose Ltd for the year ending 30th June 2020 AND a statement of financial position (balance sheet) as at that date
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