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Balthus Corp. reports the following components of stockholders' equity on December 31, 2013: Common stock-$1 par value, 320,000 shares authorized, 200,000 shares issued and outstanding $ 200,000 Paid-in capital in excess of par value, common stock 1,400,000 Retained earnings 2,160,000 Total stockholders' equity $3,760,00 0 It completed the following transactions related to stockholders' equity in year 2014: Jan. 10 Purchased 40,000 shares of its own stock at $12 cash per share. Mar. 2 Directors declared a $1.50 per share cash dividend payable on March 31 to the March 15 stockholders of record. Mar. 3 1 Paid the dividend declared on March 2. Nov. 11 Sold 24,000 of its treasury shares at $13 cash per share. Nov. 2 5 Sold 16,000 of its treasury shares at $9.50 cash per share. Dec. 1 Directors declared a $2.50 per share cash dividend payable on January 2 to the December 10 stockholders of record. Dec. 3 1 Closed the $1,072,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
1.business activities that either generate or use cash are classified as operating investing or financing activities on
After analyzing the financial statements and thoroughly researching a company, you have realized that the firm has had zero interest-bearing debt (no notes, bonds, or loans) over the past eight years.
As the accountant for Runson Moving Company, you are preparing the company's annual return, Form 940 and Schedule A. Use the following information to complete Form 940 and Schedule A on pages 5-36 to 5-38.
a school district wants to establish a separate fund to acquire store and sell school supplies to individual schools
Junker's Stash started the 2016 accounting period with the balances given in the financial statements model shown below. During 2016 Junker's Stash experienced the following business events:
Partner A performs $5,000 of contract-type Code Sec. 707(a) services for the ABC partnership in December of 2009, but does not get paid until January of 2010. A and ABC are both calendar-year taxpayers, but A is on the cash basis and ABC is on the..
what role to you feel the taxation of business entities should play in supporting the revenue needs social and economic
Cost volume profit analysis
nick and jolene are married. nick is 61 and retired in 2011 from his job with amalgamated company. jolene is 56 and
Kay Katz and Doris Kan are partners in a dry-cleaning business. The partnership agreement specifies the manner in which income of the business is to be distributed. Kay is to receive a salary of $40,000 for managing the business. Doris is to recei..
carter company sells merchandise on account for 3000 to hannah company with credit terms of 210 n30. hannah company
adani inc. sells goods to geo company for 11000 on january 2 2012 with payment due in 12 months. the fair value of the
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