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Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders equity during its first year of operations.
Required:1. Explain the transaction(s) underlying each journal entry (a) through (d). 2. How many shares of common stock are outstanding at year end? 3. What is the amount of minimum legal capital (based on par value) at year end? 4. What is the total paid in capital at year end? 5. What is the book value per share of the common stock at year end if total paid in capital plus retained earnings equals $695,000?
Fred Fisher is a licensed scuba diver who lives in Key Largo. He is employed full-time as an engineer. Five years ago he had been employed as a professional diver for a salvage company. While working for the salvage company, he became interest..
in 2010 milly purchased 150 shares of stock in tommy corporation for 12500. in 2012 the corporation distributed 2000 to
in each of the following independent situations involving transfers of tangible property determine which transfer
Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during the period. Prepare the entries to record the recovery of the uncollectible account during the period.
louder company manufactures part mno used in several of its truck models. a total of 10000 units are produced each year
an 80-room motel forecasts its average room rate to be 68.00 for next year at 75 occupancy. the rooms department has a
Amortization of excesses in periods subsequent to the purchase would affect which sections of a cash flow statement?
If 16,000 units of materials enter production during the first year of operations, 12,000 of the units are finished, and 4,000 are 75% completed, the number of equivalent units of production would be 15,000.
lavage rapide is a canadian company that owns and operates a large automatic carwash facility near montreal. the
question 1list and describe the four standards in the imas statement of ethical practice. as part of your answer be
for 2013 omaha mechanical has a monthly overhead cost formula of 42900 thorn 6 per direct labor hour. the firms 2013
Tonga Industries reported the following: Net Sales $450,000 Cost of goods sold $360,000 Operating expenses $60,000 Tax Rate 40% The net income is:
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