Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1, 2010, Franklin Company had a retained earnings balance of $206,000. During 2010 the following events occurred:1. Treasury stock (common) was acquired at a cost of $14,000. State law requires a restriction of retained earnings in an equal amount. The company reports its retained earnings restrictions in a note to the financial statements.2. Cash dividends totaling $9,000 and stock dividends totaling $6,000 were declared and distributed.3. Net income was $58,000.4. Two thousand shares of callable preferred stock were recalled and retired at a price of $150 per share. This stock had originally been issued at $130 per share.5. A material error in net income for a previous period was corrected. This error correction decreased retained earnings by $12,600 after a related income tax credit of $5,400.Required:1. Prepare a statement of retained earnings for the year ended December 31, 2010.2. Prepare a note to disclose the restriction of retained earnings.
In November, the Universal Solutions Division of Keaffaber Corporation had average operating assets of $480,000 and net operating income of $46,200. The company uses residual income, with a minimum required rate of return of 11%,
grady enterprises manufactures three computer games. they are called rising star ghost master and road warrior. the
Contrast the differences between a stock dividend and a stock split
In each of the following independent situations involving transfers of tangible property, determine which transfer pricing methods applies and compute a transfer price using the appropriate method. Show all of your computations.
Prepare a schedule of completed jobs on hand as of April 30, 2010. What account does this schedule support?
1. crystal products allows customers to use bank credit cards to charge purchases. the bank used by crystal products
morgan company is considering a capital investment of 180000 in additional productive facilities. the new machinery is
what is the present worth of 500.00 in month 1 510.00 in month 2 and amounts increasing by 10 per month through month
The Acme Company has an $8,000,000 balance in accounts receivable. Their CPA believes that there are very few misstatements. Which of the following would the CPA use to audit the account?
The company expects to sell 10% of its merchandise for cash. Of sales on account, 58% are expected to be collected in the month of the sale, 38% in the month following the sale, and the remainder in the second month following the sale. Prepare a s..
the following data is extracted from the books of abc shoe company for the year 2008. the company sold 100 units during
morganton company makes one product and it provided the following information to help prepare the master budget for its
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd