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Survivor Company was formed on January 1, 2009 by selling and issuing 25,000 shares of $12 par value common stock at $15 per share. On December 1, 2010, the company declared a cash dividend of $2 per share which will be paid in cash on January 15, 2011. The annual accounting period ends December 31. Prepare the appropriate journal entries on each date.
finlon upholstery inc. uses a job-order costing system to accumulate manufacturing costs. the companys work-in-process
The board of directors declared and paid a $2,000 dividend in 2009. In 2010, $12,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2010?
alexia corporation was organized on january1 2012. it is authorized to issue 10000 shares of 8 100 par value preffered
jurvin enterprises recorded the following transactions for the just completed month. the companynbsphad no beginning
Stockton Corporation purchased equipment for $32,000. Stockton also paid $400 for freight and insurance while the equipment was in transit. Sales tax amounted to $240. Insurance, taxes, and maintenance the first year of use cost $1,000. How much s..
Casso limited has an option to purchase new car for the use froma bank on loan for Rs. 100,000 with 16% interest payable. Find which option is more suitable for the company.
consider p. ltd a one-asset firm with no liabilities. assume that the asset will generate end-of-year cash flows of 300
An error was discovered during 2007. Specifically, depreciation expense was understated in 2005 resulting in the need for a Prior Period Adjustment of $25,000 before taxes.
Which is better for preventing or detecting fraud a rules based system like US GAAP or a principles based system like IFRS? Please provide the reasons for your opinion.
discuss the revenue principle and the matching principle as per the generally accepted accounting principles
A fire destroyed the inventory on January 20, 2011 except for purchases in transit, FOB shipping point of $6,000, and goods having a selling price of $4,700 that were salvaged from the fire. Compute the cost of the inventory lost in the fire.
miscellaneous other receipts $38. When counted, there was $25 of cash remaining in the petty cash fund. Journalize the entries for June.
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