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Question - Pink Corporation has 40,000 P100 par, ordinary shares issued and outstanding. To please the stockholder's but at the same time conserve cash, its Board of Directors decided to declare a share dividend when the market price of the stock is P120.
Required: Prepare journal entries on the date of declaration and on the date of issuance assuming the share dividend declared is:
a. 15%
b. 30%
Steve and Jim formed a partnership on January 1 with cash contributions of $600,000 and $400,000, respectively. The partners agree to share profits and losses equally. The partnership immediately borrowed $200,000. What is Jim's tax basis in his p..
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Commission of $100. In addition, Aaron will receive a further commission. Determine transaction price of arrangement for Aaron, assuming 100 policies are sold.
Memtech Company is the exclusive distributor of a high-speed computer memory chip. The product sells for $50 per unit and has a CM ratio of 30%. The company's fixed expenses are $240,000 per year.
You are assigned to work on an audit of shipping and billing as the generalized audit software expert. You are working on the following section of the audit:
Samson and Delilah did not the sell the home they purchased on January 1, 25 years ago. How much Depreciation on the rental Property?
On January 1, the first day of the fiscal year, a company issues a $1,200,000, 9%, five-year bond that pays semiannual interest of $54,000 ($1,200,000 × 9% × ½), receiving cash of $1,153,670.
on february 11 2011 wilmar corporation borrowed 100000 from its bank by signing a 12 percent 15-year note payable. the
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