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A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:
a) A debit to Contributed Capital in Excess of Par Value, Common Stock for $42,000
b) A debit to Cash for $140,000
c) A credit to Common Stock for $182,000
d) A credit to Common Stock for $140,000
e) A credit to Contributed Capital in Excess of Par Value, Common Stock for $182,000
Barbara and Bill formed an equal partnership, B&B, a general partnership, on January 1, 2011. Barbara contributed $100,000 in exchange for her one-half interest.
What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?
Which of the following is not considered actual receipt or "constructive receipt" of income in the current year? Which of the following does not have to be included in gross income?
How does the auditor's responsibility for detecting errors differ from their responsibility to detect fraud?
If investors are truly interested in knowing a company's future cash flows, why would they care about current earnings?
Examine the governmental fund financial statements. Are any major capital projects funds included? If so, list them. Attempt to find out the nature and purpose of the projects from the letter of transmittal, the notes, or MD&A. What are the major ..
Last year, Gransky Corporation's variable costing net operating income was $52,100 and its ending inventory increased by 400 units. Fixed manufacturing overhead cost was $7 per unit. What was the absorption costing net operating income last year?
What is a cybernetic control systems? describe the elements of cybernetic control systems.How do they relate to results/output controls?
Should any of the overhead costs at year-end be added to Job W? If so, how much? Explain.
Assume that retained earnings increased by $240,000 from December 31, 2005, to December 31, 2006, for Miller Corporation. During the year, a cash dividend of $140,000 was paid.
The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..
During the year, total liabilities increased $100,000 and owner's equity decreased $70,000 What is the amount of total assets at the end of the year?
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