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A corporation was organized in January 2004 with authorized capital of $10 par value common stock. On February 1, 2004, shares were issued at par for cash. On March 1, 2004, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on February 1, 2004 March 1, 2004
a. Yes No
b. Yes Yes
c. No No
d. No Yes
How does a customer benefit by our spending $50,000 on a supposedly better accounting system?" How should the controller respond?
Which of the following is the primary factor in determining the functional currency of a foreign subsidiary?
1) What would Washington report for service revenue for 2011? 2) What would Washington report for salaries expense for 2011? 3) What would Washington report for supplies expense for 2011?
What if a cahs receipt were applied to the wrong customer? Identify Internal control that would detect or prevent thid from occurring.
Management estimates that it costs $500 to analyze and close a commerical loan. This amount has been included in the $250,000 of inderict costs. How much of the $250,000 indirect costs should be allocated to the Consumer Department?
You take a deep breath because Jackson and Kara are about to walk through the door. While Jackson and Kara were very pleased with the refund they received after they filed last year's taxes, you have the feeling they're going to be looking for mor..
Journalize Fidelity's distribution of the stock dividend on May 11. What was the overall effect of the stock dividend on Fidelity's total assets? On total liabilities? On total stockholders' equity?
Prepare the journal entries to record the pension expense and funding for the year.
Kern Company purchased bonds with a face amount of $400,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of..
Standard variable manufacturing costs were $15 per unit, and total budgeted fixed manufacturing overhead was $150,000. If there were no variances, net income under absorption costing would be:
On June 1, 2013, Madison notified bondholders of its intent to call the bonds at face value plus a 1% call premium on July 1, 2013. By June 30 all bondholders had chosen to convert their bonds into shares as of the interest payment date. On June 3..
Russell (age50) and Linda (age45) Long have brought you the following information regarding their income and expenses for the current year. Russell owns and operates a landscaping business called Lawns and Landscapes Unlimited. The business is operat..
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