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On December 31, 2010, the stockholders' equity section of Arndt, Inc., was as follows:Common stock, par value $10; authorized 30,000 shares;issued and outstanding 9,000 shares $ 90,000Additional paid-in capital 116,000Retained earnings 174,000Total stockholders' equity $380,000On March 31, 2011, Arndt declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the fair market value of the stock was $18 per share. For the three months ended March 31, 2011, Arndt sustained a net loss of $32,000.Required:The balance of Arndt's retained earnings as of March 31, 2011, should be
Q. Describe about Financial intermediation? Financial intermediation refers to the role of a bank or else other financial institution that serves to bring together lenders and
The Brownstone Corporation's bonds have 7 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 10%. a.
To observe terms of trust Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but the
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
James Bell plans to stay at the Michaels Motel for one month, and he prepays his room charges. Bell arrives and begins his stay on January 21. To account for Bell's prepayment, at
As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: Cash 80,000 non cash
Q. Redemption of debt? Equity finance is permanent capital that doesn't need to be redeemed while debt finance will need to be redeemed at some future date. Redeeming a huge am
Rescission of receiving order The order may be rescinded by the court if: The court has sanctioned a composition or scheme of arrangement; The debts have been paid in
VED Analysis: VED i.e. Vital, Essential and Desirable analysis is a technique employed for spare part inventory analysis and is broadly used in the automobile industry particul
Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable an
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