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Crystal Arts, Inc., had earnings of $160,000 for 2010. The company had 20,000 shares of common stock outstanding during the year. In addition, the company issued 2,000 shares of $100 par value preferred stock on January 3, 2010. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during 2010.
Determine the basic earnings per share for Crystal Arts. Round answer to nearest whole cent.
Determine the actual and standard variable cost per bag of dog food produced, separated into direct materials. direct labor, and variable overhead.
It is necessary for the auditor to understand the client's business. Why is that the case? How does classifying the client into a safe or risky client affect the audit?
When the present value analysis of a proposed investment results in an indication the proposal has a rate of return greater than the cost of capital, the investment may not be made because:
The car was covered by a $2,000 deductible insurance policy. Norm did not file a claim against the insurance policy because of a fear that reporting the accident would result in a substantial increase in his insurance rates. His adjusted gross inc..
Crawford Company has the following equivalent units for July: materials 10,000 and conversion costs 9,000. Production cost data are:
The average stockholders' equity was $680,000. What is Thomas Company's return on equity (ROE)?
Why is it important to understand the difference between an originating temporary difference and permanent difference in a company? Explain if this concept is relevant for personal finance. ( Intermediate Accounting)
Financial Statements of ABC Corp. indicates that ending inventory levels in 2010 and 2011 were $200,000 and $350,000 respectively. Net Sales for 2010 and 2011 were $5,000,000 and $5,500,000 respectively. Cost of Goods sold for 2010 and 2011 were $..
The bonds mature on January 1, 2015. Novotna Company uses the effective-interest method to amortize discount or premium. On January 1, 2012, Novotna Company sold the bonds for $370,726 after receiving interest to meet its liquidity needs.
How much goodwill did World Media purchase as part of the acquisition of The Dandy Dime?
Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavourable or favourable.
Explain why are companies with small levels of inventory usually unconcerned with the choice of variable or absorption costing?
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