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Hodge Corporation issued 100,000 shares of $20 par value, cumulative, 6% preferred stock on January 1,2013, for $2,300,000. In December 2015, Hodge declared its first dividend of $500,000. Instructions: (1) Prepare Hodge's journal entry to record the issuance of the preferred stock. (b) If the preferred stock is NOT cumulative, how much of the $500,000 would be paid to COMMON stockholders? (c) If the preffered stock is cumulative, how much of the $500,000 would be paid to COMMON Stockholders?
pro sports inc. manufactures basketballs for the national basketball association nba. for the first 6 months of 2008
ABC Corporation has assets of $1.35 million, common stock of $351,000, and retained earnings of $214,000. What are the creditors' claims on their assets?
Pirate, Inc. leased equipment from Shoreline Enterprises under a four-year lease requiring equal annual payments of $180,000, with the first payment due at lease inception.
what is the amount of interest expense recorded by Pirate, Inc. in the first year of the asset's life?
which of the following is an advantage of corporations relative to partnerships and sole proprietorships?reduced legal
delmott sells a snowboard xpert that is popular with snowboard enthusiasts. below is information relating to delmotts
What are the potential proprietary costs from expanded disclosures in each of these areas? If you conclude that proprietary costs are relatively low for either, what alternative explanations do you have for management's opposition?
Mackinzie Consulting computes the cost of each consulting engagment by adding a portion of firmwide support costs to thelabor costs of the consultants on the engagment.
b-mart sells 5000 of blue jeans. the customer later tells b-mart that 200 of them are defective. the sale of the 5000
Al is a medical doctor who conducts his practice as a sole proprietor. During 2011, he received cash of $280,000 for medical services. Of the amount collected, $40,000 was for services provided in 2010.
The Ambrosia Corporation's lead accountant shows the following information.
What accounting factors are significant before evaluating whether a pending lawsuit should be accrued as a liability and reflected in the financial statements?
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