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Garza Co. had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate.
June 12 Issued 60,000 shares of $1 par value common stock for cash of $375,000.
July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share
Nov. 28 Purchased 2,000 shares of treasury stock for $80,000.
Journalize the transactions.
A small business owner holds $4,000 in cash; $1,200 in materials; $10,000 in land and $32,000 in plant and equipment. His accounts payable total $9,000 and he has an outstanding bank loan totaling $18,800. what is the owners equity?
On January 1, 2009, Boston Company purchased a heavy duty machine having an invoice price of $13,000; Boston paid transportation and installation costs totaling $3,000.
On March 1, 2009, Warren sold 30 million common shares. In keeping with its long-term share repurchase plan, 2 million shares were retired on June 30. Warren's net income for the year ended December 31, 2009, was $1,050,000,000. The income tax rat..
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Provide and show all answers and step by step work to obtain the answer, not skipping any steps. Show all equations, acronyms (ie ETC, ACWP, etc), and if applicable, a description of how you came to the answer.
Which of the following statements correctly describes the proper accounting for nonmonetary exchanges that are deemed to have commercial substance?
If risk is to be analyzed in a qualitative way, place the following investment decisions in order from the lowest risk to the highest risk:
The quantity purchased is used in computing the direct materials price variance because you are looking for the difference in the price of materials for the job
Write a report on Internal Controls
Variable costs as a percentage of sales for Leamon Inc. are 75%, current sales are $600,000, and fixed costs are $110,000. How much will operating income change if sales increase by $40,000?
Ace and Bart will use personal assets to purchase Carr's interest. The partnership's entry to recored Carr's withdrawal from the partnership would be ??
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