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At December 31, 2010 and 2009, Glass Corp, had 120,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2010 or 2009. Net income for 2010 was $400,000. For 2010, earnings per common share amounted to:
a. $3.33
b. $2.92
c. $2.50
d.$1.67
If National actually produced 1,500 units, the flexible budget would show variable costs of what amount?
On July 1, 2002, Raptor Corporation, a wholesaler of used robotic equipment, issued $7,500,000 of ten-year, 10% bonds at an effective interest rate of 12%, Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year o..
Would you answer in above question be different if the shareholder had also lent the subchapter S corporation cash in an amount in excess of the shareholders' allocable share of losses and deductions, and if so how?
What are the options for an entity trying to invest in its growth? How does Apollo finance its business? Did you identify any errors or findings in Apollo's long term liabilities? Do the activities of Apollo require any additional or particular di..
A manufacturer of thermostats uses a kanban system to control the flow of materials. The packaging center processes 10 thermostats an hour and receives completed thermostats every 30 minutes. Containers hold 5 thermostats each.
Calculate the difference in taxable income and cash inflow under each method. Assume MACRS allowances are 20, 32, 18, 15, and 15 percent for years 1-5 respectively.
Analyze how corporations treat non-liquidating distributions and determine the most likely mistake(s) the client could make that would result in an IRS audit. Advise the client on how to avoid the mistake(s) and how you would respond to the IRS in..
Prepare the entry to record the interest expense at April 1, 2011. Assume that interest payable was credited when the bonds were issued. (round to nearest $)
The company expects to incur $56,400 of total inspecting costs this year. How much of the inspecting costs should be allocated to the Beginner model using ABC costing?
What are some advantages and disadvantages of each: (a) team-based, (b) network-based, and (c) boundaryless organizations?
Assume that the real risk-free rate, r, is 3 percent and that inflation is expected to be 8 percent in Year 1, 5 percent in Year 2 and 4 percent thereafter.
What are the advantages of loan agreements that contain covenants tied to accounting numbers? Are there any disadvantages? Please explain.
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