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Lopez, Inc. has 2,000 shares of 4%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2009, and December 31, 2010. The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?
Preferred Common
a. $9,000 $6,000
b. $7,500 $7,500
c. $5,000 $10,000
d. $4,000 $11,000
Management has determined that they should record a valuation allowance equal to the net deferred tax asset. Assuming a tax rate of 34%, prepare the journal entries to record the deferred tax provision and the valuation allowance.
Which of the following statements is true? I. The entire amount of realized gains and losses from the sale of assets are recognized for tax purposes.
What is the amount of interest expense Herman will show with relation to these bonds for the year ended December 31, 2010?
Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500.
China Corp. has a current capital structure of $18 million in secured bonds paying 6.5% annual interest, $8 million in preferred stock with a par value of $50 per share and an annual dividend of $3.80 per share
The total amount of overhead applied to work in process for August would be:
Wahr Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year
Which of the following best describes assurance services.
"A long term debt of 2,151,000 represents the remaining balance on a 30 year old loan taken out 20 years ago at 11 % which options to refinance every ten years. If we refinance for the remaining 10 years at 7% how much interest expense will we sav..
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
What are some typical types of transactions that appear in the financing section of the statement of cash flows?
Johnson alarm systems had $800,000 of retained earnings on December 31, 2004. The company paid dividends of $60,000 in 2004 and had retained earnings of $640,000 on December 31, 2003.
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