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Anders, Inc., has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2011. There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011?
$15,000
$25,000
$45,000
$0
Squid reported net income of $100,000 for 2005. Minority interest income that will appear in the consolidated income statement for 2005 is
Rolla Company was founded in 2010. It acquired $30,000 cash by issuing stock to investors and an additional $20,000 cash by borrowing from creditors. During 2010 it received $15,000 cash revenues and paid $22,000 in cash expenses.
Last year, Abby loaned Pat $10,000 as a gesture of their friendship. Although Pat had signed a note payable that contained interest payments and a maturity date, the loan had not been repaid this year when Pat died insolvent.
Prepare journal entries necessary for Crane during 2007 and 2008 to account for the transactions described above.
Identify at least 3 areas in accounting and/or audit where complexity increases as a result of globalization. How should audit firms deal with them?
Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO and (3) average-cost.
Capital Gains and Losses. Each of the following independent cases involves capital gains and losses occurring during the calendar year for an unmarried individual taxpayer.
Prepare schedules of accounts receivable, accounts payable, and inventory as at 30 April 2012, and reconcile these with the control accounts in the general ledger.
Describe this Basic Type of Business Formation: Partnership Explain the Following Consequences of the type of Business Organization:
The company expects to sell 20% of its merchandise for cash. Of sales on account, 50% are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the following month. Prepare a schedule indicati..
Which item LEAST resembles an interest free loan from the U.S. government?
Ronald and Roy formed an equal partnership, R&R Partnership, a general partnership, on January 1, 2012. Ronald contributed $100,000 in exchange for his one-half interest in R&R partnership.
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