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Boxer Company owned 26,000 shares of King Company that were purchased in 2009 for $380,000. On May 1, 2011, Boxer declared a property dividend of 1 share of King for every 10 shares of Boxer stock. On that date, there were 43,000 shares of Boxer stock outstanding. The market value of the King stock was $30 per share on the date of declaration and $37 per share on the date of distribution. By how much is retained earnings reduced by the property dividend?
a cost center is a unit of a business that incurs costs but does not directly generate revenues. which of the following
evaluate the logic of reflecting key person life insurance in the operating activities of the cash flow statement and determine if this presentation is misleading to users of the financial statements.
The University of Danville is a private not-for-profit university that starts the current year with $700,000 in net assets: $400,000 unrestricted, $200,000 temporarily restricted, and $100,000 permanently restricted.
Jim received an insurance recovery of 80% of the value of the car at the time of the accident. If Jim's AGI for the year is $50,000, determine his deductible loss on the car.
the sarbanes-oxley act of 2002 placed sigificant restrictions on the types of consulting that may be performed by
de anza manufacturing has just hired a new controller diana deanza. during her first week on the job diana was asked to
last year the sales at jersey company were 260000 and were all cash sales. the expenses at jersey were 111000 and were
Marilyn's basis in the partnership interest was $80,000 before the distribution. What is Marilyn's basis in the inventory, land, and partnership interest following the distribution?
Banks Billiard Company (BBC) issued $5 million in par value of bonds for $5.1 million. BBC incurred $200,000 in accounting fees and $50,000 in banking fees related to this transaction. What amounts should BBC record for the bonds upon issuance usi..
what are the portfolio weights for a portfolio that has 110 shares of stock a that sell for 79 per share and 85 shares
Arthur Young was criticized for not encouraging Lincoln to invoke the substance-over-form principle when accounting for its large real estate transactions.
auto parts sells 1200 electric parts per week and then reorders another 1200 parts. if the relevant carrying cost per
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