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Question - El Tigre, Inc. opened on January 1, 2020 by issuing 100,000 shares of common stock for $250,000. Stock issuance costs were $10,000. El Tigre reported $400,000 in net income for the year. On November 1, 2020, a $10,000 cash dividend was declared. The dividend was paid on December 1. El Tigre reported a credit to Unrealized Gain or Loss- OCI of $5,000. What was the balance in Retained Earnings on December 31, 2021?
A. $385,000
B. $400,000
C. $390,000
D. $635,000
E. $395,000
Compute the cost of the ending inventory and the cost of goods sold under average-cost
Straight-line depreciation is used by PKE. Ignoring income taxes, what journal entry will PKE use to correct the error?
On June 1, 2010, Mordica Corp. issued $2,000,000, 9%, 5-year bonds at face value. The bonds were dated June 1, 2010, and pay interest semi-annually on June 1.
Based on this information, the statement of partners' equity for 2010 would show what amount as total capital for the partnership on December 31, 2010
Choose 4 financial markets or institutions. Briefly explain what each specializes in (mortgages, stocks, government securities, etc.).
Calculate the overhead rate using the activity-based costing approach.Calculate the overhead rate using the traditional (plant-wide) approach.
Santana Rey is considering the purchase of equipment for Business Solutions that would allow the company to add a new product to its computer furniture line.
Shirley Company issued $2,000,000, 20 year, bonds on April 1st of 2017. How much will Shirley receive when the bonds are issued
What will be the balance in the Investment in Spike if Peanuts has applied full equity accounting since the acquisition date?
Allocate the inspection cost between the two products assuming that it is driven by (a) unit-level activities, (b) batch-level activities
Ator Co. invested $1,000,000 in Demo Co. for 25% of its outstanding stock. What was Demo Co.'s total net income for the year
Calculate the amount of increase or decrease in stockholders equity for the year
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