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On January 6, Dee-Light Corporation issued for cash 19,950 shares of $2 par value common stock at $33 per share. On May 10, Dee-Light issued at par 4,850 shares of preferred 5% stock, $20 par for cash. On June 22, Dee-Light issued for cash 22,400 shares of 5%, $25 par value preferred stock at $33 per share. Determine the amount of cash that Dee-Light will receive from each of these stock issuances for January 6, May 10, and June 22.
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On January 1, 2014, Lauren Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 f..
Prepare Celine Dion's journal entries to record the purchase of the patent and 2014 amortization. Prepare Gershwin's April 1 journal entry and December 31 adjusting entry.
Debt investments are recorded at the
Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: As of December 31, (the end of the prior qua..
Prepare the worksheet for the year ended December 31, 20X8 and prepare the Income Statement & the Statement of Owners Equity for the year ended December 31, 20X8
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In 2016, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their only sources of income are gains from stock they held for three years before selling and wages from part-ti..
Roger, an individual, owns a proprietorship called Green Thing. Determine Roger's adjusted gross income for 2014
Sunday Corporation prepared the following performance report for variable overhead costs for the last quarter of the year. Machine hours are the cost driver for all overhead costs. Cost Driver(Machine Hours) Variable Overhead Costs:
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