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A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:
a) A debit to Contributed Capital in Excess of Par Value, Common Stock for $42,000
b) A debit to Cash for $140,000
c) A credit to Common Stock for $182,000
d) A credit to Common Stock for $140,000
e) A credit to Contributed Capital in Excess of Par Value, Common Stock for $182,000
In the past year, TVG had revenues of $3 million, cost of goods sold of $2.5 million, and depreciation expense of $200,000. What is the firm's times interest earned ratio?
Discuss the steps involved in setting the preliminary judgment about materiality. Class, the concept of materiality is important in the context of auditing. Materiality is a function of the time, the situation, and the people involved.
Which one of the following statements concerning net working capital is correct?
The following labor standards have been established for a particular product: What is the labor efficiency variance for the month?
Pension data for Goldman Company included the following for the current calendar year: service cost $100,000 PBO, January 1 750,000 plan assets, Janauary 800,000
Give the journal entry on July 24 to record payment of the balance due within the discount period using a perpetual inventory system
At December 31, 2006, DePaul Corporation had a $16 million balance in its deferred tax asset account and a $68 million balance in its deferred tax liability account. The balances were due to the following cumulative temporary differences:
Interest is at 12%. Assume cash flows occur at the end of the year. Calculate the total present value of the cash flows.
Courgar Inc. issued 3,000 shares of 4% cumulative $120 par value preferred stock at par. What is the journal entry to record this transaction?
What are several possible explanations for the markdown and slow sale of common waleth Edison's bonds?
The Garrett Corporation uses the lower-of-cost-or-market method to value inventory. Data regarding the items in work-in-process inventory are presented below.
Are there times when the values of the tangible assets are actually less than the value of the intangible assets, such as Goodwill?
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