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Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation's existence:
Sold 5,000 shares of common stock for $18 per share.
Issued 5,000 shares of common stock in exchange for a patent valued at $100,000.
At the end of the Adler's first year, total paid-in capital amounted to:
a. $40,000.b. $90,000.c. $100,000.d. $190,000.
If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?
The ability to develop and use good management accounting is actually an important ability for many individuals, including finance professionals, operational and marketing managers, top-level executives, and information technologists.
What is her 2010 gift tax liability under the assumption that she made the $200,000 of taxable gifts in 1974 instead of 1997?
Zeta Co. has outstanding 100,000 shares of $100 par value cumulative preferred stock which has a dividend rate of 6%. They have not declared any cash dividends on the stock in the last 3 years.
Assume that the lessor retains title to the machine at the expiration of the lease, that there is no bargain renewal or purchase option, and that the fair value of the equipment is $1,420,000 as of the lease date. Using the criteria for distinguis..
She does remember that the machine has a projected life of 10 years. Based on these data, the annual cost savings are:
Upon examining the balance sheet of a large city, you notice that the total assets of the general fund far exceed those of the combined total of the city's ten separate special revenue funds.
Tanner Bay Inc. has two departments, Assembly and Packaging. The company uses a job-order costing system and computes a predetermined overhead rate in each department. What is the predetermined overhead rate to be used in each department? Show comp..
Pierce had no restrictions on the use of the advance rental payments and renders no services connection with the rental income. What amount of gross income should Pierce report on its 2009 tax return?
Calculate the combined pre-determined OH rate using (1) units of production (2) machine hours: 40,000 machine hours, variable mfg OH $80,000, Fixed mfg OH $325,000. The company expects to produce 10,000 units and each product requires 4 hours of m..
A company's retained earnings on December 31, 2011 was $2,190,000 and its shareholders equity was $8,760,000.
In its statement of cash flows, Peridot should report net cash outflows from investing activities of:
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