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Prior to being united in a business combination, Botkins INc. and Volkerson Corp. had the following stockholders equity figures:
Common STock ($1 par value): Botkin $220,000Volkerson $54,000APIC: Botkin $110,000 & Volkerson $25,000Retained Earnings: Botkins $360,000 & Volkerson $130,000
Botkins issued 56,000 new shares of its common stock valued at $3.25 per share for all of the outstanding stock of Volkerson. Assume that Botkins acquired Volkerson on January 1, 2010. At what amount did Botkins record the investment in Volkerson?
What percentage increase in sales would enable a company with 2,000,000 in sales revenue to reach its goal of increasing its net profit of 340,000 by 15%?
During the current year, Garrison Construction trades an old crane that has a book value of $80,000 (original cost $140,000 less accumulated depreciation $60,000) for a new crane from Keillor Manufacturing Co. the new crane cost Keillor $165,000 t..
Evaluate the GASB's views regarding how the total pension liability should be measured and whether or not you support these views? Explain your rationale.
Determine which of the following is not one of the four conditions that normally must be met for revenue to be recognized according to the revenue principle for accrual basis accounting
Assume that the division is using absorption costing and that the divisional manager is giben an annual bonus based on divisional operating income. If Mr Cavalas wants to maximize his division's operating income for the year,how many units should ..
The Talley Corporation had a taxable income of $365,000 from operations after all operating costs but before (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What are the firm..
A company with $800,000 in operating assets is considering the purchase of a machine that costs $75,000 and which is expected to reduce operating costs by $20,000 each year. The payback period for this machine in years is closest to:
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at Dec 31. Year 2 would be reduced by ?
Marketing and adminstrative expenses were fixed and totaled 20,000 each year a. Prepare an income statement for each year using absorption costing.
What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?
Can Mary claim a deemed-paid (indirect) FTC on her form 1040 with respect to receipt of the dividend distribution from CanCo?
If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
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