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Thrifty Co. reported net income of $191,150 for its fiscal year ended January 31, 2017. At the beginning of that fiscal year, 50,000 shares of common stock were outstanding. On October 31, 2016, an additional 15,000 shares were issued. No other changes in common shares outstanding occurred during the year. Also during the year, the company paid the annual dividend on the 20,000 shares of 6%, $50 par value preferred stock that were outstanding the entire year.
Required:
a. Calculate basic earnings per share of common stock for the year ended January 31, 2017. (Round your answer to 2 decimal places.)
Prepare the adjusting entry for depreciation at December 31. Post the adjustments to T-accounts. Indicate the balance sheet presentation of the equipment at December 31.
What is the net cash flow attributable to the asset purchase in each year and the adjusted basis in the asset at the end of each year?
Creat a journal entry to record income taxes for the year 2010. Show well-labeled computations for the amount of income tax payable and the change in the deferred tax account.
where would the acquisition of a new building, valued at $250,000appear on the Statement of Cash Flows if the consideration paid tothe seller was made entirely by transferring title of TreasuryStock to them?
Smashing Pumpkins Company uses the lower-of-cost-or-market method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2014, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products a..
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Prepare an income statement for the current year ended April 30, 2004 and prepare a retained earnings statement for the current year ended April 30, 2004.
A television set sells for $1,000 U.S. dollars. In the spot market, $1 = 110 Japanese yen. If purchasing power parity holds, what should be the price (in yen) of the same television set in Japan?
Molina Corporation has paid 60 consecutive quarterly cash dividends (15 years). The last 6 months, however, have been a cash drain on the company, as profit margins have been greatly narrowed by increasing competition.
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During 20xx,Mark Walker, Inc.had cash Aow from operations totalling $675,000, dividends paid totaling $20,000, and equipment purchases totalling $200,000. Required : what is the cash Aow from operations to capital expenditures ratio?
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