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Montgomery & Co., a well established law firm, provided 500 hours of its time to Fink Corporation in exchange for 1,000 shares of Fink's $5 par common stock. Mitchell's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's Paid-in capital-excess of par increase for this transaction?
A. $345,000.
B. $295,000.
C. $350,000.
D. $300,000.
On November 8, 2006, Power Corp. sold land to Wood Co., its wholly owned subsidiary. The land cost $61,500 and was sold to Wood for $89,000. From the perspective of the combination, when is the gain on the sale of the land realized?
Diamond company borrowed $500,00 from a bank on Jan. 1, 2007 in order to expand its mining capabilities. the five-year note required annual payment of $ 130,218 and carried an annual interest rate of 9.5%.
In addition Y and Z follow Federal provisions with respect to the determination of taxable income for the corporation. Y recognizes S status, but Z does not. Based on the following information, write a memo to the shareholders of Hernandez detaili..
The company's ending inventory on December 31, 2010, is estimated at 94,500 units. Develop a quarterly production budget for 2011 and for the year in total.
Laquesha Enterprises. sells its only product for $9 per unit, variable production costs are $3 per unit, and selling and administrative costs are $1.50 per unit. Fixed costs for 10,000 units are $5,000. Calculate the contribution margin per unit a..
Prepare the journal entries that Kramer Corporation should record for these transactions and events. Please show me the calculations.
A company purchased a $5,000, 25-year zero-coupon bond for $820 to yield 8.5% to maturity. How is the interest revenue computed?
What amount of bad debts expense will Hamilton Company report if it uses the direct write-off method of accounting for bad debts?
Other than for financial statements, management need report only the information it knows. That is, management should be under no obligation to gather information it does not have, or does not need, to manage the business.
When a parent uses the equity method throughout the year to account for investment in a subsidiary, which of the following statements is false?
If operating lease commitments are considered equivalent to debt, what percentage of the American's debt is represented by the lease liabilities?
When there are conflicts, how might government regulations or laws tilt the firm toward 'doing good'?
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