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A corporation had 41000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 25% stock dividend when the market value of each share was $25. The entry to record this dividend is:
1) Debit retained earning $256,250; credit common stock dividend distributable $256,250
2) Debit retained earning $205,000; credit common stock dividend distributable $205,000
3) Debit retained earning $256,250; credit common stock dividend distributable $205,000; credit Paid-in capital in excess of par value common stock $51,250.
4) Debit retained earning $256,250; credit cash $256,250
5) No entry is made until the stock is issued
Prepare the journal entries necessary to record issue of the new bonds and the refunding of the bonds.
brandywire homecare a not for profit business had revenues of 12 million in 2007. expenses other thatn depreciation
If the company estimates that 8% of its outstanding receivables will be uncollectible, illustrate what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?
What accounting constraint is illustrated by the items Greco's Farms, Inc. reports agricultural crops on its balance sheet at fair value.
Based on your experience, you think the unit sales, variable cost, and fixed cost projections given here are probably accurate to ±11 percent. Determine the upper or lower bounds of these projections
Which of the companies would most likely use a process costing system and the delivery of products or services to customers is an example of which element in the value chain
Calculate number of shares outstanding at the time of the cash dividend and the amount of cash required to fund the cash dividend.
The fixed costs for the plane are $3,000 per day whether it flies or not. A) Should the airline replace its night flight from Los Angeles with a morning flight? b) Should the airline remain in business?
calculation of firms dollar growth in dollars and analyse how the growth financed.1.middleton clinic had total assets
Calculate the missing amounts - Does that mean that profitability necessarily also declined? Explain, computing the gross profit rate and the profit margin ratio for each fiscal year to help support your answer.
determine the cost of capital for Zygo using the Build-up Method as of June 30, 2011. Evaluate the various adjustments the best you can from the available resources.
The market value of the common stock at the date of the conversion was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?
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