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In June 2012, Hatch Company had no investment securities but had excess cash that would not be needed for nine months. Management decided to use this money to purchase trading securities as a short-term investment. The following transactions relate to the investments: July 16 Purchased 4,000 shares of Eli Corporation stock. The price paid, including brokerage fees, was $62,400. Sept. 23 Received a cash dividend of $1.25 per share on the Eli stock. 28 Sold 2,000 shares of Eli stock at $16 per share. Paid a selling commission of $250. Dec. 31 The market value of Eli's stock was $16.35 per share. Given these data, prepare the journal entries to account for Hatch's investment in Eli stock.
the donut shoppe is considering buying a new donut machine for a total of 110110. the donut shoppe estimates that this
Prepare the cost of merchandise sold section of the income statement for the year ended March 31, 2010, using the periodic method. Also determine gross profit.
For 2010, stoneland corporation reported net income, 24,000; net sales 400,000; and average shares outstanding, 6,000. there werte no preferred stock dividends. What was the 2010 earnings per share?
now its time to begin some strategic planning. previously you identified your small business project in which you solve
Which of the following statements is (are) true regarding the potential effects of using reported product costs for decision making?
How much inventory can Baker purchase without violating its debt agreement if their total current assets equal $15 million.
he company charges a price of 6.50 total fixed cost is 314400 per year and the break even point is 131000 units. what
1. indicate the best answer for each question in the space provided.1 examples of value-added activities include all of
What is the realized tax gain on the sale of the G550?
Prepare the stockholders' equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2012. Account for treasury stock using the cost method.
ling construction entered into a contract in 1997 to build atunnel at a contract price of 11 million. the company
A foreign entity is a subsidiary of a us parent company and has always used the current rate method to translate its foreign financial statements on behalf of its parent company. which one of the following statements is incorrect?
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