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The common stock of Alexander Hamilton Inc. is currently selling at $120 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per value. Nine million shares are issued and outstanding. Instructions
Prepare the necessary journal entries assuming the following.
a) The board votes a 2-for-1 stock split.
b) The board votes a 100% stock dividend
c) Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.
Assuming Southwest Corporation uses effective-interest amortization. Compute issue price of the bonds in dollars (show computations).
"The Ortegas decide to buy some furniture priced at $400 with $40 down and the balance to paid for using 10% add-on interest, to be paid in monthly installments over one year. Illustrate what are the total interest they will be charged? and what is..
The wholesale cost of a video game is $459,45. The original markup was 51% based on selling price. Find the final sale price after the following series of price changes:
To prepare the project worthwhile in terms of his own time, Marbury would need a $7,200 profit for the first six months of the venture. What level of sales in units and dollars would be needed to attain this target net operating income?
Suppose Mighty Mint can win the Quality Candy business by bidding a price of $16 per case (but no higher price will result in a winning bid). Should Mighty Mint bid $16?
During the year, P sold goods to S for $85,800 at a mark-up of 25% on cost. 30% of these goods are still on hand at the date of consolidation.
garnishes, inc has sales for the year of $46,300 and cost of goods sold of $21,700. the firm carries an average inventory of $4,800 and has an average accounts payable balance of $4.400. what is the inventory period?
Your trust fund will pay distribute $60,000 per year over the next 20 years. Using a 10% rate of return, what is present value of the distributions?
Texark Inc., a calendar year taxpayer, reported $5,210,300 total income before tax on its financial statements prepared in accordance with GAAP How do evaluate taxable income with the above information?
Calculation of payment made to vendors and Compute the following (and show your work to earn partial credit in the event your responses are incorrect):
How does the budgeting process Cadence and Cross used at ATC differ from recommended practice? What are the behavioral implications of the way Cadence and Cross went about preparing the master budget?
Evaluate the selling price per unit. Which of the following is not a difference between financial accounting and managerial accounting?
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