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Consider the following data for a corporation:
Net income $800,000Preferred stock dividends $50,000Market price per share of stock $25Average common stockholders' equity $4,000,000Cash dividends declared on common stock $20,000
What is the return on common stockholders' equity?
A. 19.50%
B. 21.25%
C. 18.75%
D. 20.00%
Calculate the amount of additional investment that the stockholders made during 2011. Assuming that the corporation declared and paid $10,000 in dividends during 2011, calcuate the amount of net income earned by the corporation during 2011.
Charles River Company has just sold a bond issue with 10 warrants attached. The bonds have a 20-year maturity, an annual coupon rate of 12.0 percent, and they sold at their $1,000 par value.
The Randalls have a married son and four grandchildren (ages 15, 17, 18 and19). They establish a trust under which the income is to be paid annually to the grandchildren until the youngest reaches age 25.
Alonzo Co. acquired 60% of Beazley Corp. by paying $240,000 cash. There is no active trading market for Beazley Corp. At the time of the acquisition, the book value of Beazley's net assets was $300,000.
In November 2011, Kendall purchases a computer for $4,000. She does not use Sec. 179. She only uses the most accelerated depreciation method possible.
Why do you think present value is an important concept for management to understand? Do you think it should be used for all financial statements items, why or why not?
Pullman Corporation acquired a 90% interest in Sleeper Company for $6,500,000 on January 1 2010. At that time Sleeper Company had common stock of $4,500,000 and retained earnings of $1,800,000.
Determine Debbie's and Elizabeth's realized gain or loss, recognized gain or loss, and the basis in their new property.
a. What are the amounts and character of Tom's recognized gains or losses? b. What is Tom's basis in the Total stock and notes? c. What is Total's basis in the property received from Tom?
Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.
You're an IT auditor working for $15 million sales per year speciality chocolate candy manufacturer. The company is planning to engage in e-commerce over Internet. What would be your five biggest concerns regarding risk and why?
Include tests of transactions after the balance sheet date as well as tests of transactions during the year under audit. Show
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