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1.Ava School of Learning obtained a charter at the start of 2010 that authorized 43,000 shares of no-par common stock and 24,500 shares of preferred stock, par value $8. During 2010, the following selected transactions occurred: Prepare Journal entries for each
a. Collected $44 cash per share from four individuals and issued 3,500 shares of common stock to each.b. Issued 6,000 shares of common stock to an outside investor at $44 cash per share.c. Issued 8,000 shares of preferred stock at $20 cash per share.Prepare journal entries for each of the transactions.
Forest Products, Inc., busy and develops natural resources for profit. Since 2006, it has had the following activities:
at a sales volume of 36000 units quale corporations sales commissions a cost that is variable with respect to sales
research and development lo10-8in 2013 space technology company modified its model z2 satellite to incorporate a new
steve is considering the following actions. explain to him which actions will constitute gifts for gift tax purposes.
Horngren (1973) believes that accounting standards must be marketed by regulatory bodies. By this he means that affected parties need to be sold on the benefits of standards. How is this concept consistent with the nature of regulation?
R1. Compute the cost allocation rate for each activity.
on january 1 2010 bartley corp. paid 800000 for 100000 shares of oak companys common stock which represents 40 of oaks
dannys fish camp has sales of 1500000 for the first quarter of 2010. in making the sales the company incurred the
Role of adjusting and closing entries in the preparation of the income statement, statement of retained earnings, and balance sheet and how is cash-basis accounting different from accrual-basis accounting
Padua Corp has sales of $400,000, a variable cost ratio of 60%, and a profit of $40,000. If 10,000 units were sold, what is the contribution margin per unit?
airqual test corporation provides on-site air quality testing services. the company has provided the following data
which equation measures the total budget variance?aq ap - sp.sp aq - sq.sq ap - sp.aq ap - sq
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