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Using the following information record the required journal entries:
Common Stock outstanding ($10-par)………………….....$100,000
Net Income ……………………………………………...........$500,000
8% Preferred Stock ($300-par, 1,000 shs outstanding)...$300,000
a. The company declared a 10% stock dividend. The market price was $18 on the date of declaration.
b. Calculate the Earnings per share assuming the stock dividend in (a) was NOT made.
c. Assume instead of the facts in (a) above, that the company declared a 40% stock dividend
Ignore income taxes. Using the analytical framework discussed in the chapter, indicate the effect of the preceding information for 2009, 2010, and 2011 under each of the fol
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The total factory overhead for Rowland Company is budgeted for the year at $652,000 and divided into two departments: Fabrication $460,000 and Assembly $192,000. Rowland manuf
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The opening inventory for the boys department on March 1 $150,0000 at cost and $260,000 at retail. During the month , the department received merchandise that cost $95,000 wit
Prepare a budgeted income statement that summarizes the activity for the two months ended March 31. Compute the amounts that would appear on the March 31 balance sheet for acc
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