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At January 1, 2012, Lance Link Corporation had 100,000 shares of $1 par common stock and 1,000 shares of $100 par, 6%, cumulative preferred stock outstanding.
Express did not pay dividends in 2012 or 2013. In December 2014, the board of directors declared a $45,000 cash dividend to be paid on January 31.
Required:
Compute the total dividend to be paid to the preferred shareholders.
Compute the total dividend to be paid to the common shareholders
Show the December 31 journal entry to record the declaration of dividends.
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William recognized a $4,500 capital gain on the sale of marketable securities and a $15,000 Section 1231 loss on the sale of business equipment. What is net effect of these gains and losses on William's taxable income?
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the following information about the payroll for the week ended december 30 was obtained from the records of qualitech
Evaluate the net present value of the investment in the machine and Show the difference between the total, undiscounted cash inflows and cash outflows over the entire life of the machine?
Due to the recent beef recall, southern steakhouse is considering incorporating. Bill, the owner wants to protect his personal assets in the event the restaurant is sued. Which advantage of incorporating is most applicable?
On 1/1/14 we sign a lease: Term is 5 years and is no cancellable with Payments of $23,981.59 made at the beginning of each year. The FMV of leased asset is $100,000 and has a economic life 5 years. No renewal option.
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Determine the eliminating entries necessary for the 20X9 consolidated financial statements.
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