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On Dec 31, 2007, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30 2008, the firm issed an additional 135,000 shares for $7 per share. The 2008 income was $319,200. On Sept 1 2008 a 15 percent stock dividend was issued to all common shareholders. On Oct 1 2009, 60,000 shares were reacquired as treasury shares. Net income in 2009 was $278,063.
a) Compute the weighted everage number of common shares outstanding for 2008 and 2009 that should be shown on comparative statements at the end of 2009
b) Compute the basic earnings per share in 2008 and 2009 to be reported on comparative statements at the end of 2009
Ludwig, Inc., which owes Giffin Co. $1,600,000 in notes payable, is in financial difficulty. To eliminate the debt, Giffin agrees to accept from Ludwig land having a fair value of $1,220,000 and a recorded cost of $900,000.
A company's merchandise inventory includes all of the following, except:
Compute the ABC indirect manufacturing cost per unit for each product and compute the indirect manufacturing cost per unit using direct labor hours from the single-allocation-base system.
treatment of various costs ben sisko supply company anewly formed corporation incurred the following expenditures
The two optional steps in the accounting cycle are preparing? a) a post-closing trial balance and reversing entries b) reversing entries and a worksheet c) an adjusted trial balance and a post-closing trial balance d) a worksheet and post-closing tri..
during april leary company sold 1000 units of product q. its beginning inventory and purchases during the month are
Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock?
The value of an investment that is calculated discounting future cash flows from the investment at an interest rate that gives a satisfactory return on investment and then subtracting the present cost of the present cost of the investment is known..
during the year martin rented his vacation home for three months and spent one month there. gross rental income from
The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:
Which of the following is an example of direct materials cost for an automobile manufacturer?
harwichport company has a current ratio of 3.0 and an acid-test ratio of 2.8. current assets equal 210000 of which 5000
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