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FGH Inc had 500,000 shares of common stock issued and outstanding at December 31, 2010. On July 1, 2011, an additional 100,000 shares of common stock were issued for cash. FGI also had unexercises stock options to purchase 75,000 shares of common stock at $10 per share outstanding at the beginning and end of 2011. The average market price of FGI's common stock was $15 during 2011. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2011.
The Retained Earnings account has a credit balance of $17,000 before closing entries are made. If total revenues for the period are $55,200, total expenses are $39,800 and dividends are $9,000, what is the ending balance in the Retained Earnings a..
Is the purchase of equipment treated as an expense at the time of purchase? Why or why not?
During the year H amilton reported net income of $75000, sold treasury stock at a "gain" of $27000, declared a cash divedend of $45000, and declared and issued a small stock divedend of 1500 shares ($10 par value) when the market value of the stoc..
Parr Hardware Store had net credit sales of $5,200,000 and cost of goods sold of $4,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was ..
The average daily demand is 150 customers. The convenience store currently operates 6 hours a day. Each order takes approximately 2 minutes. a. What is the average customer waiting time, in minutes?
Compare and contrast the different types of audit risk. Determine the type of risk that you think is the least detrimental and the most detrimental. Defend your answer.
Mathews Bus Service traded in a used bus for a new one. The original cost of the old bus was $52,000. Accumulated depreciation at the time of the trade-in amounted to $34,000. The new bus cost $65,000, but Mathews was given a trade-in allowance of..
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)
In a recently administered IQ test, the scores were distributed normally, with mean 100 and standard deviation 15. What portion of the test takers scored between 70 and 130?
The standard hours allowed for actual output of month totaled 7,070 machine-hours. What was the variable overhead efficiency variance for the month?
A review of the accounting records of Rayford Manufacturing indicated that the company incurred the following payroll costs during the month of August.
The government-wide changes in net assets would be displayed as ??
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