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The common stock of Warner Inc. is currently selling at $110 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. Five million shares are issued and outstanding. Prepare the necessary journal entries assuming the following. (a) The board votes a 2-for-1 stock split.
(b) The board votes a 100% stock dividend.
(c) Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.
Prepare an incremental analysis in good form to evaluate the incremental effect on profit of discontinuing the snail extraction tool line.
How much gain or income will Bob recognize on his contribution of the land to the partnership? Illustrate what is the character of any gain or income recognized?
Instructions (Round cash payback period and rate of return to 2 decimal places. Illustrate what is the cash payback period for this proposal? years
When treasury stock is accounted for by the cost method is subsequently sold for more than its purchase price, the excess of the cash proceeds over the carrying value of the treasury stock
Purpose the journal entry on Partner's books for the acquisition of Sizemic Corporation's net assets.
What was the average selling price of each share of common stock and How many shares of stock are outstanding, What amount should be reported for stockholders' equity
How much of Joe's bonus might the IRS re-characterize as a dividend Supposing the IRS re-characterizes $200,000 of Joe's bonus as a dividend, what additional income tax liability does Nittany Company face
Applying the stock attribution principles applicable in the case of a stock redemption, how many shares does Bob own in Brown Corporation?
Determine the firm's weighted average cost of capital using book value weights. Explain how the firm can use the cost in the investment decision-making process.
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Little Cabbage Firm acquired an adjacent lot to construct. Fees paid to remove an old building from the land were $9,000. Materials salvaged from the demolition of the building were sold for $3,000. A contractor was paid $800,000 to construct a new..
There was no starting inventory. If the company uses the FIFO periodic inventory method, what would be the cost of the ending inventory?
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