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In January 2007, Castro Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2007, Castro Corporation reacquired 1,000 shares of its outstanding stock for $12 per share. The acquisition of these treasury shares:
a. decreased total stockholders' equity.
b. increased total stockholders' equity.
c. did not change total stockholders' equity.
d. decreased the number of issued shares.
What was the amount of Stoop's earnings that should be included in calculating consolidated diluted earnings per share?
What is generalized audit software? What are the tasks for which an auditor would use it? What are the advantages and disadvantages of using generalized audit software?
Its investment banker plans to sell an issue of common stock to the public for $40 per share, less a spread of 5%. How much must Newdex's after-tax income increase to prevent dilution of EPS?
A firm has purchased, for 50,000 FCs, an electric generator from a foreign firm. The exchange rates were 1 FC = $0.80 on the delivery date and 1 FC = $0.76 when the payable was paid. What is the final recorded value of the payable if the two-trans..
No election is made to use the straight-line method. The company does not make the § 179 election. Determine the total deductions in calculating taxable income related to the machines for 2010.
If company a has a player with a contract of $5,800,000 and company B has a player with a contract of $5,600,000 and they trade the players by exchanging the player's contract and the fair value of both contracts was $6,000,000 what amount should ..
Why is essential that the planning functions of controllership can help an organization effectively and efficiently achieve a goal?
1) Examine an auditing issue that is impacted by Sarbanes-Oxley. 2) Compare and contrast that issue before and after the Sarbanes-Oxley Act was implemented.
The fixed costs directly associated with Springfield's nursing division were estimated to be $9,000 a month for rent and other expenses. The variable costs of supplies (measured on a per-visit basis) were expected to be $30. Mr. Hoover believed th..
Beneficial's QPAI for purposes of the domestic production activites deduction is 600,000. Compute Beneficial's 2012 regular income tax liability and its AMT.
Compute the percentage increase or decrease in net sales and also in net income (net loss) from 2005 to 2007. Which item grew faster during this two-year period, net sales or net income (net loss)? Can you offer a possible explanation for these ch..
Contract law is the basis for the legal liability at common law of an auditor to his/her client. From which of the following may the auditor's liability arise?
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