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The equity of Enterprise Holdings, Inc has a market value of $3 million. It currently has 300,000 shares outstanding, and a book value of equity of $1,095,000. An unexpected cash windfall has prompted management to consider either a special dividend of $6.00 per share or stock repurchase for cash.
a. If management estimates that a stock repurchase announcement will increase stock price by 5 percent, how many shares should they be prepared to repurchase?
b. Can you think of any reasons a share repurchase might be preferable to a special dividend?
Prepare journal entries in good form for the following transactions for the Goodland Company. Omit explanations. (So that a line won't be automatically skipped, you may hold the shift & enter.)
Journalizing corporate transactions and preparing the stockholders' equitysection of the balance sheet [20-25 min]B-Mobile Wireless needed additional capital to expand, so the business incorporated.
Do you agree with Pat's decision? Why or why not? How important do you think Pat's assessment of his personal risk was in decision? Should it be a factor?
Barry owns a 25% interest in a continuing partnership. the partnership distributes a $20,000 year-end cash bonus to all the partners. in a proportionate nonliquidating distribution, the partnership also distributed property (basis of $2,000; fair ..
In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous year, its balance sheet showed $780 million of retained earnings. What were the total dividends paid to s..
Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?
The IRS can impose intermediate sanctions on a public charity if its gross unrelated business income exceeds 50% of its gross income, or if less than two-thirds of its net unrelated business income is used in carrying out its tax-exempt mission. ..
EM Sales had $2,200,000 in sales last month. The contribution margin ratio was 30% and operating profits were $180,000. What is EM's break-even sales volume? $660,000 $1,540,000 $1,600,000 $2,020,000.
Prepare journal entries to record the following four separate issuances of stock.
Prepare a memo to Susan Apple, a tax partner for whom you are working, with the recommended treatment for the disputed income.
How would applying a flat tax decrease errors, when the progressive tax rates is just a simple formula? How would you measure gross income? Do you think that deductions should be eliminated? Which ones and why?
Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1050 per week, her employment agreement provides for overtime pay at an extra half-rate for hours workded over 40.
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