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Question - On January 1st, Admiral Nelson Company had 300,000 shares of common stock issued and outstanding. Admiral issued a 10% stock dividend on June 30th. On September 30th, 12,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in calculating basic earnings per share for the year?
A) 303,000.
B) 342,000.
C) 312,000.
D) 327,000.
Kubota Co. is a wholesaler of office supplies. Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2006
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Loss Allocation
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