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Problem
On June 30, 2015, Roger Company showed the following data on the equity section of their balance sheet:
Stockholders' equity
Common stock, $1 par
190,000 shares authorized,
140,000 shares issued and outstanding
$140,000
Paid-in capital in excess of par-Common
260,000
Retained earnings
940,000
Total stockholder's equity
$1,340,000
On July 1, 2015, Roger declared and distributed a 5% stock dividend. The market value of the stock at that time was $13 per share. Following this transaction, what would be the new balance in the Common stock account?
Hamilton Tool and Die Company purchased $72,000 of equipment with an estimated service life of 4 years. The equipment will be worth $4,000 at the end of its life. The annual amount of depreciation on this equipment is:
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Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account
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Sergo Games produces a variety of action games which sold more than 800,000copies. In 2011, the production plant prepared 3,000,000 CDs and incurred the following cost:
information from the financial statements of ames fabricators inc. included the followingdecember 3120132012common
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accounts payable 184400 150000 160000 accounts receivable net 206000 194000 220000 interest income 15000 14000 26000
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