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Following selected accounts appear in the ledger of Okie Environmental Corporation on August 1, 2010, the beginning of the current fiscal year:
During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:
a.Issued 17,500 shares of common stock at $81, receiving cash.b.Issued 8,000 shares of preferred 2% stock at $63.c.Purchased 5,000 shares of treasury common for $390,000.d.Sold 3,000 shares of treasury common for $240,000.e.Sold 1,000 shares of treasury common for $75,000.f.Declared cash dividends of $1 per share on preferred stock and $0.80 per share on common stock.g.Paid the cash dividends.
The Duce Company has five plants nationwide that cost $100 million. The current market value of the plants is $500 million. The plants will be recorded and reported as assets at
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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.
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On that date, when the market price of Hunter was $14 per share, there were 90,000 shares of Pierson outstanding. What gain and net reduction in retained earnings would result from this property dividend?
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which one of the following accounts would not appear on the consolidated financial statements at the end of the first fiscal period of the combination?
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