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Krew Kutter's net income was $100,000 last year. The company has 10,000 shares of common stock and 4,000 shares of $200 par value, 6 percent preferred stock outstanding. No change in the number of common or preferred shares outstanding occurred during the year. What was the earnings per share of common stock last year?
On the basis of the information provided, under U.S. GAAP, is goodwill associated with the Spanish operations impaired as of December 31, 2010? If so, determine the impairment loss.
Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.) The December 31, 2010 balance sheet of Wolfe Co. included the following items:
Gordeeva Corporation began selling goods on the installment basis on January 1, 2010. During 2010, Gordeeva had installment sales of $179,000; cash collections of $77,300; cost of installment sales of $121,720.
A corporation may obtain a machine by leasing it for six years (the useful life), paying an annual fee of $3,000, or by purchasing it for $12,000.
Ending inventory at year-end costs in order are $494,400 with cost index 1.03, $569,250 with cost index 1.15, and $586,850 with cost index 1.21. Calculate Taylor's ending inventory for 2013, 2014, and 2015.
Assume that the company uses variable costing, compute the unit cost for one knife set? Assuming that the company uses absorption costing, compute the unit cost for one knife set.
The township authorized a bond issue of $11 million for the construction of a pedestrian walkway as part of a downtown revitalization project. An additional $1 million of general revenues is to be used for the project. The authorization was record..
Gaines share. During the current year, 1,000 of these shares were reacquired for $20 each. 500 treasury shares are subsequently reissued at $25 per share.
Which of the following is a capital asset? a) The bicycle of a 10-year old child. The child purchased the bicycle with money inherited from an aunt. b) The tools used by a self-employed carpenter.
Which of the following ratios would be most helpful in assessing the liquidity of a governmental entity?
Determine the proper balance sheet presentation and amounts for the above items.
Classify the controls that you just identified above as either preventive, detective, or corrective controls. How does the matter of accountability (tracing transactions to specific agencies) affect the problem?
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