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On January 1, 2010, Anderson Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:Mar. 1 Issued 30,000 shares of common stock for $300,000.June 1 Declared a cash dividend of $1.50 per share to stockholders of record on June 15.June 30 Paid the $1.50 cash dividend.Dec. 1 Purchased 5,000 shares of common stock for the treasury for $20 per share.Dec. 15 Declared a cash dividend on outstanding shares of $2 per share to stockholders of record on December 31.InstructionsPrepare journal entries to record the above transactions.
GHH, Inc. has two classes of stock authorized: $100,000 par preferred and $1.00 par value common. As the begining of 20C, 200 shares of preffered stock and 300,000 shares of common
The following information is available for Mehring Corporation for the year ended December 31, 2012: Collection of principal on long-term loan to a supplier
How to calculate fair value of long-lived asset when the information about fair value is not available?
Cost: - According to the management perspective cost is define as a reduction in the value of assets for to secure benefit or gain. In other words cost is the different expenses
Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las
1. You can buy any quantity of cooking oil at $5 per litre and any quantity of flour at $2 per kilo. You have allocated $20 to spend on cooking oil and flour. (a) If you choo
In the context of the public sector, discuss incremental system of budgeting and evaluate their strengths and weaknesses
The current stock price of International Wood is $69 and the stock does not pay dividends. The instantaneous risk free rate of return is 10%. The instantaneous standard deviation
Analytical Procedures - Substantive tests of financial information that examine relationships among data as a means of obtaining evidence. Such procedures include: (1) comparison o
The following items represent liabilities on a firm's balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An a
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