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Treasury stock transactions. On January 1, 2013, Metco, Inc., reported 622,100 shares of $3 par value common stock as being issued and outstanding.On March 15, 2013, Metco, Inc., purchased for its treasury 5,200 shares of its common stock at a price of $64 per share. On August 10, 2013, 1,900 of these treasury shares were sold for $76 per share. Metco's directors declared cash dividends of $2.10 per share during the second quarter and again during the fourth quarter, payable on June 30, 2013, and December 31, 2013, respectively. A 3% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year.Required:a. Use the horizontal model (or write the entry) to show the effect of the treasury stock purchase on March 15, 2013.b. Calculate the total amount of the cash dividends paid in the second quarter.c. Use the horizontal model (or write the entry) to show the effect of the sale of the treasury stock on August 10, 2013.d. Calculate the total amount of cash dividends paid in the fourth quarter.e. Calculate the number of shares of stock issued in the stock dividend.
Risk affects the cost of equity capital and thus the value of the perpetuity. Collins and Kothari (1989) provide a discussion of additional determinants of the relation between unexpected earnings and returns. How Do Earnings Numbers Relate to Sto..
a new client for your firm is sam jones who is preparing personal financial statements for a bank loan. mr. jones is
on september 25 2010 a hurricane destroyed the work in process inventory of biloxi corporation. at that time the
What is the difference between linear and nonlinear cost function? Give an example of each type of cost function?
Machine X was purchased for $100,000 on January 1, 2006. Straight line depreciation has been recorded for five years, and the Accumulated Depreciation account has a balance of $45,000. The estimated residual value remains at $10,000, but the service ..
Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2013?
tjelmeland corporation is considering dropping product s85u. data from the companys accounting system appear below.
the net income reported on the income statement for the current year was 275000. depreciation recorded on fixed assets
Recommend at least one improvement in the Website's sales order process you would implement to make it more efficient. Then, assess whether the recommendation warrants the benefits to clients versus the cost of implementation for the company. Prov..
On February 12, 6, 000 shares of Lucas Company are acquired at a price of $22 per share plus a $240 brokerage fee. Prepare the journal entries for the original purchase, dividend and sale.
all-star inc. is considering an investment in one of two machines. the sewing machine will increase productivity from
a. george suffered injuries in an automobile accident and his doctor recommended swimming as a form of therapy. in
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