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Which of the following is not a legal restriction related to profit distributions by a corporation?
a. The amount distributed to owners must be in compliance with the state laws governing corporations.
b. The amount distributed in any one year can never exceed the net income reported for that year.
c. Profit distributions must be formally approved by the board of directors.
d. Dividends must be in full agreement with the capital stock contracts as to preferences and participation.
Maggie Moo's Ice Cream Shop had a gross pay of $19,000 and a net pay of $13,200 for the latest payroll. The journal entry to pay the payroll would be:
In the same year Nectar sold land costing $30,000 to Lorikeet for $50,000 On July 1, 2005, Lorikeet sold the land to an unrelated party for $110,000. What was the gain on the consolidated income statement?
on september 30 the cash account of value company had a normal balance of 5700. during september the account was
Cooper Corporation purchased a special tractor on December 31, 2012. The purchase agreement stipulated that Fishbone should pay $25,600 at the time of purchase and $7,700 at the end of each of the next 11 years. The tractor should be recorded on D..
Management wishes to maintain a minimum cash balance of $8,000. Complete the basic cash budget for the month of January.
Garza Co. had the following transactions during the current period. Journalize cash dividends; indicate statement presentation.
What is the relationship between receivables and cash? What is their influence on liquidity and solvency? How do they affect competitiveness? Why are sales revenue and gross margin so important?
Discuss whether Loewen Group expansion from funeral homes to cemeteries affected its horizontal or vertical boundaries or both.
Determine the total deductions in calculating taxable income related to the machine for 2011 assuming Glory has taxable income of $500,000.
which statement is not correct about the business-government-society interdependence? a. most business actions impact
why would a state or local government establish a capital projects fund? what type of project might be considered a
what is the allowable deduction on the $2,000 of interest? Explain your answer and show all calculations.
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