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A corporation had 13,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 4,995 shares. At the time of the stock dividend, the market value per share was $19. The entry to record this dividend is: Debit Common Stock Dividend Distributable $94,905; credit Retained Earnings $94,905. No entry is needed. Debit Retained Earnings $94,905; credit Common Stock Dividend Distributable $24,975; credit Paid-In Capital in Excess of Par Value, Common Stock $69,930. Debit Retained Earnings $94,905; credit Common Stock Dividend Distributable $94,905.(i picked this on) Debit Retained Earnings $24,975; credit Common Stock Dividend Distributable $24,975.
Which of the following costs would most likely be classified as variable assuming the account analysis method is used to determine cost behaviors?
Calculate the sales revenue reported by XYZ Company in its 2004 income statement.
The company presently is selling 12,000 units annually at a selling price of $28 each. A special order has been received from a distributor who wants to purchase 3,000 units at a special price of $20 each.
Barry's Steroids Comapny has $1,000 par value bonds outstanding at 12 percent interest. The bonds will mature in 50 years. Compute the current price of the bonds if the percent yield to maturity is:
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Who are the stakeholders in this situation? What are the ethical issues involved? What would you do?
Which section of the IRC describes the forms of substantiation a taxpayer must maintain in order to claim valid business-related entertainment expense deductions?
The income to be recognized each year is based on the proportion of costs incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December 31, 2010, follow:
Discuss the challenges related to comparing financial statement prepared in different accounting methods. For example, US GAAP and IFRS.
ABC Company has just received a special order for 1,000 deck chairs. ABC has sufficient idle capacity to accept the order. Indicate whether the given cost is a sunk cost, opportunity cost, relevant or not relevant to the decision to accept the spe..
Why is measurement in the context of accounting so important
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