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A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1)assets, (2)liabilities, and (3)stockholders' equity?
What is the probable motivation for declaring the 2-for-1 stock split to be effected by a dividend payable in shares of common stock?
All sales are on credit. Recent experience shows that 28% of credit sales is collected in the month of the sale
Bonita places a coupon in each box of its product. Customers may send in five coupons and $3-A total of 400,000 boxes of product were sold in 2010. It was estimated that 6% of the coupons would be redeemed.
Matthew was a participant in his employer's contributory qualified pension plan. The plan balance of $2 million is paid to Olivia, Matthew's daughter and beneficiary. The distribution consists of the following.
peggys pillows produces and sells a decorative pillow for 75.00 per unit. in the first month of operation 2000 units
Debt investments are recorded at the : a. face value of the bonds purchased. b. face value of the bonds purchased plus interest. c. price paid for the bonds plus interest. d. price paid for the bonds plus brokerage fees
On April 1, the owner, Lee Gentry, had a capital balance of $12,900. During April, Gentry withdrew $3,000 cash for personal use.Instructions
Lynn Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Lynn, but the table legs are purchased from an outside supplier.
Assuming the price level increased from 1.00 at January 1 to 1.10 at December 31, 2011, use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold.
Based on the requirements of the Sarbanes-Oxley Act and SEC reporting requirements for publically traded companies,
impact of operating and investing activities indirect methodthe following account balances were taken from the records
on december 31 2008 berclair inc. had 200 million shares of common stock and 3 million shares of 9 100 par value
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