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In 2010, Bombay Corporation had cash receipts of $21,000 and cash disbursements of $12,000. Their ending cash balance at December 31, 2010 was $33,000. What was their beginning cash balance?
Purchased raw materials at a cost of $45,000 and general factory supplies at a cost of $13,000 on account (recorded materials and supplies in the materials account)
The average market price of Caruso's common stock was $25 during 2008. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2008?
An electing S corporation has a $30,000 ordinary loss for the non-leap year. On January 1, Beverly and Sonya own equally all of the S corporation stock. On the 146th day of the year, Beverly gives her one-half of the S corporation stock to her dau..
What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?
Analyze the difference between discretionary and nondiscretionary fiscal policy. Explain the effects of discretionary and nondiscretionary fiscal policy on governmental revenue and expenditures.
Brittle Corp. obtained the following information from the Raw Materials Inventory account and purchasing records for the third quarter of the current year.
A dilutive security can be either a bond or a preferred stock. The reason they are referred to as a dilutive security is because the security can be converted into common stock and share in the 'earnings per share' computation.
Lab Kennels, Inc. and Wolman Developers have agreed to exchange two parcels of land and each will assume the other's mortgage on the parcel acquired. Lab owns 500 acres within city limits that has a value of $750,000 and a basis of $300,000.
What are the 6 principles in the AICPA's CPC and the purpose of each principle?
Prepare the journal entries for these transactions, assuming that the common stock has a par value of $3 per share. Prepare the journal entries for these transactions, assuming that the common stock is on-par with a stated value of $2 per share.
What are the issues and complications that may arise when multinational corporations conduct performance measurement and comparisons among subsidiaries located in different countries?
Compute the efficiency variances for direct labour and direct materials. Provide likely explanations for variances. Do you have reason to be concerned about you performance evaluation? Explain.
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