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A corporation had 13,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 4,995 shares. At the time of the stock dividend, the market value per share was $19. The entry to record this dividend is: Debit Common Stock Dividend Distributable $94,905; credit Retained Earnings $94,905. No entry is needed. Debit Retained Earnings $94,905; credit Common Stock Dividend Distributable $24,975; credit Paid-In Capital in Excess of Par Value, Common Stock $69,930. Debit Retained Earnings $94,905; credit Common Stock Dividend Distributable $94,905.(i picked this on) Debit Retained Earnings $24,975; credit Common Stock Dividend Distributable $24,975.
What would be the transfer price if the company uses a policy of setting the transfer price at variable cost plus a 20% markup?
Which of the following statements concerning interim financial reports is incorrect?
Funzy Cereal includes one coupon in its cereal and offers a toy car in exchange for $1.00 and coupons. The cars cost $1.50. 40% of the coupons were redeemed in the 1st month. 12 million boxes of cereal were sold and 2.4 million coupons redeemed. W..
You are an internal auditor of a small rural bank with 3 branches. The bank's customers are mainly farmers. The bank is a publicly traded corporation (OTC) and qualifies under the Sarbanes-Oxley Act of 2002 (SOX) regarding financial reporting requ..
Yuli Copters is known to be aggressive in ignoring intellectual property claims. Imagine they just go ahead with the project as stated above - How does this strategy work for them
What is the difference between the revenue listed in item (1) and thatlisted in item (6)?
The net periodic pension cost reported in the income statement for 2011 would be
Oddessy consulting has the following for year ended 12-31-09 before adjustments. Oddessy uses the net credit sales method of estimating bad debt expense. The journal entry for estimating bad debt expense at year end is:
The company requires a minimum pretax return of 13% on all investment projects. The net present value of the proposed project is closest to:
Indicating the outcome of such a change on current taxes, and Outlining the requirements for making this change.
Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. In April, the foundry produced 35,000 tons at a cost of £950,000. Using only these two data points, determine the cost function for Manchester.
A fixed asset with a cost of $41000 and accumulated depreciation of $36000 is traded for a similar asset priced at $50000. Assuming a trade-in allowance of $4000, the cost basis of the new asset is?
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