Montgomery amp co a well established law firm provided 520

Assignment Help Accounting Basics
Reference no: EM13569086

Montgomery & Co., a well established law firm, provided 520 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par common stock. Montgomery's usual billing rate is $700 per hour, and Fink's stock has a book value of $260 per share. By what amount will Fink's Paid-in capital - excess of par increase for this transaction?

Reference no: EM13569086

Questions Cloud

A tornado damage a crane and a dump truck at one of its : a tornado damage a crane and a dump truck at one of its construction sites. the crane was acquired 2009 for 120000. and
Robert hobbes plans to invest 25000 a year at the end of : future value of an ordinary annuity robert hobbes plans to invest 25000 a year at the end of each year for the next
During 2014 in 000s net income was 10300 25 of the : black enterprises reported the following in 000s as of december 31 2013. all accounts have normal
Locate a minimum of 15 peer-reviewed articles that describe : locate a minimum of 15 peer-reviewed articles that describe the problem or issue and that support the proposed
Montgomery amp co a well established law firm provided 520 : montgomery amp co. a well established law firm provided 520 hours of its time to fink corporation in exchange for 1000
Te amounts of 1225 1350 1500 1600 and 1600 over the next : present value with multiple cash flows jeremy fenloch borrowed some money from his friend and promised to repay him
Garber plumbers offers a 20 trade discount when providing : garber plumbers offers a 20 trade discount when providing 2000 or more of plumbing services to its customers. in march
Plush pilots inc has balance sheet equity of 60 million at : plush pilots inc. has balance sheet equity of 6.0 million. at the same time the income statement shows net income of
Identifying the subject and the verb in italics in the : 1.identifying the subject and the verb in italics in the sentence?a.in the bottom drawer of my dresser is a pair of

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Differential analysis for a lease or sell decision

differential analysis for a lease or sell decision sure-bilt construction company is considering selling excess

  Which column heading is the most important or salient

What will a close out sale at year end from one of a company's main suppliers do to the company's balance sheet?What will the event noted above do to inventory and payable ratios in comparison to prior years? Is this a concern? To who?

  Final recorded value of the payable

A firm has purchased, for 50,000 FCs, an electric generator from a foreign firm. The exchange rates were 1 FC = $0.80 on the delivery date and 1 FC = $0.76 when the payable was paid. What is the final recorded value of the payable if the two-trans..

  The standards for a product call for 25 pounds of a raw

the standards for a product call for 2.5 pounds of a raw material that costs 6.10 per pound. last month 30000 pounds of

  During its first year of operations sitwell corporation had

during its first year of operations sitwell corporation had the following transactions pertaining to its common

  Auditing-professional standards

In auditing a privately held entity, an auditor must follow the professional standards established by all of the following except:

  Objective of the statement of cash flows

It is an objective of the statement of cash flows to: a. disclose changes during the period in all asset and all equity accounts. b. disclose the change in working capital during the period.

  Determine davidians postretirement benefit expense for the

davidian enterprises had the following data pertaining to its health care beneift plan for the current calendar year

  How would you explain the entries to record allowance

how would you describe the entries to record the allowance methods for accounts receivables? what is their function?

  Understanding the benefits of accounting

Describe financial statements users (internal and external) . Who will benefit the most from accounting?

  Problem related to convertible bonds

Coyle Corp. issued $10,000,000 par value 10% convertible bonds at 99. If the bonds had not been convertible, the company's investment banker estimates they would have been sold at 95. Expenses of issuing the bonds were $70,000.

  Double-declining balance method

Calculate the amount of accumulated depreciation relating to the machine that would appear on XYZ Company's December 31, 2009 balance sheet assuming that the company is depreciating the machine using the double-declining balance method. Do not use..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd