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Common stock-$25 par value, 100,000 shares authorized, 50,000 shares issued and outstanding$ 1,250,000Paid-in capital in excess of par value, common stock 80,000Retained earnings 370,000
Total stockholders' equity $ 1,700,000In year 2012, the following transactions affected its stockholders' equity accounts.Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share.Jan. 5Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.Feb. 28 Paid the dividend declared on January 5.July 6 Sold 2,063 of its treasury shares at $29 cash per share.Aug. 22 Sold 3,437 of its treasury shares at $22 cash per share.Sept. 5Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.Oct. 28 Paid the dividend declared on September 5.Dec. 31Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.Want an answer?
Accounts of Pioneer Heating Corporation at the end of the first year of operations showed the following balances. In addition, prepaid operating expenses are 4000, and accrued sales commissions payable are $5900. Investment revenue receivable is ..
How would you change the accounting system for the business? What additional accounts would be needed? How would the financial statements change?
Emerson electric common stock selling for $36.75 recently paid a $1.32 dividend and the firms earning per share has increased from $1.49 to $3.06 in the past five years. The expected rate of return is 15%. Calcualte the value for this investment b..
ABC has the following budgeted costs at its anticipated production level (expressed in hours):
larry,curly and moe run the only saloon in town. Larry wants to sell as many drinks as possible wityout loss money
Gaines share. During the current year, 1,000 of these shares were reacquired for $20 each. 500 treasury shares are subsequently reissued at $25 per share.
On January 1, 2009, Boston Company purchased a heavy duty machine having an invoice price of $13,000; Boston paid transportation and installation costs totaling $3,000. The machine is estimated to have a 4-year useful life and a $1,000 residual va..
Juanita corporation uses a job-order cost system and applies overhead on the basis of direct labour cost. At the end of october, Juanita had one job still in process. The job cost sheet for this job contained the following info:
How much rental income must Billy Dent include on his 2010 income tax return?
sunset boards is a small company that manufactures and sells surfboards in malibu. tad marks the founder of the company
Assume a firm's production process requires an average of 75 days to go from raw materials to finished goods sold. If the accounts receivable cycle is 90 days and the accounts payable cycle is 80 days
Prepare the companys cash budget for October in good form.
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