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During 2012, Margan Corporation had the following transactions and events.
1. Declared a cash dividend.2. Issued par value common stock for cash at par value.3. Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock.4. Declared a small stock dividend when the market value was higher than par value.5. Made a prior period adjustment for overstatement of net income.6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above.7. Paid the cash dividend in item no. 1 above.8. Issued par value common stock for cash above par value.
Instructions
Indicate the effect(s) of each of the foregoing items on the subdivisions of stockholders' equity. Present your answer in tabular form with the following columns. Use (I) for increase, (D) for decrease, and (NE) for no effect. Item no. 1 is given as anexample.
The selling price of the equipment is $325,000, and the rate implicit in the lease is 8%, which is known to Silver Point Co. What is the book value of the leased asset at December 31, 2011, and what is the balance in the Lease Liability account?
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Dennis Company is an 80%-owned subsidiary of Kay Industries. Dennis Company issued 10-year, 8% bonds in the amount of $1,000,000 on January 1, 20X1. On the distribution of income to the controlling and noncontrolling interests.
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the year-end 2008 balance sheet of brandex inc. listed common stock and other paid-in capital at 1100000 and retained
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how much income does Sean have if the benefit is provided on a nondiscriminatory basis?
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