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Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021.
Problem 1: Record the issuance of 63,000 additional shares of $1 par value common stock for $60 per share
Problem 2: Record the purchase of 5,800 shares of treasury stock for $63 per share
Problem 3: Record the declaration of a cash dividend of $1.90 per share to all stockholders of record on June 15th
Problem 4: Record payment of the cash dividend declared on June 1
Problem 5: Record the resale of 2,900 shares of treasury stock purchased on May 10 for $68 per share
The company uses the revaluation model for trucks. The annual usage km and fair values are given below make the necessary journal entries.
What general characteristic shared by these companies explains why they do not have fiscal years ending December 31?
Indicate whether a debit or credit is required to close each of the following accounts. Use the symbols D if a debit is required , C if a credit is required, N if the account is not closed at the end of the period.
What way are the economic meanings in the investment project evaluation criteria not necessarily suited to the corporate financial objective?
If a company's sales are growing at a rate of 7.5% per year, approximately how long will it take sales to triple? Show your answer to 2 decimals
The beginning total assets were? $8,300,000. The asset turnover ratio was 1.6 times. Calculate the ending total assets of Landers.
Record the ending balances from the April 30 post closing trial balance into the ledger sheets or alternatively, you may create T-accounts on an Excel spreadsheet.
Franchising, Inc. is considering a major investment. The investment will have an initial cost of $630,000. What is the internal rate of return?
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Calculate the revenue effect of growth considering two fiscal years 2013 and 2014, with actual units sold in 2013 and 2014 are 11000 and 12500 units
How do determine a reasonable estimate of an expected loss from a lawsuit and it is probable it will lose the lawsuit, it should?
What is the purpose of depreciation? Does the book value of a fixed asset cost minus accumulated depreciation communicate to a user what the asset is worth? Explain why or why not. Should the financial statements reflect the value of fixed assets? Ex..
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