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A corporation purchased for cash 5,000 shares of its own $10 par common stock at $25 a share. In the following year, it sold 2,000 of the treasury shares at $28 a share for cash.
a) Journalize the entries to record the purchase (treasury stock is recorded at cost).
b) Journalize the entries to record the sale of the stock.
Calculate the margin of error that would be used to determine a 99% confidence interval for the mean pulse rate of all women.
How would an economist respond to the opinions expressed in this documentary? What aspects of the current food system would an economist view as a positive development?
Solid sodium iodide is slowly added to a solution that is 0.0050 M Pb2+ and 0.0050 M Ag+. [Ksp (PbI2) = 1.4 × 10-8; Ksp (AgI) = 8.3 × 10-17] Calculate the Ag+ concentration when PbI2 just begins to precipitate.
A 4.0L sample of hydrogen at 760Torr and 30.0oC contains three times as much hydrogen as does 4.0L of hydrogen at 380Torr and 200.0oC. Prove this statement by using the ideal gas law and comparing the number of moles of each gas.
a. Calculate the marginal tax rate and the effective tax rate for each of the C corporations. b. Explain why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot do so.
how many ml of concentrated sulfuric acid would be required to mae 1 L of 0.2N solution
Analyse the situation described in Case Study using an 'Interactional model of Communication'. Discuss the strengths and limitations of this theory.
Which of these is not included in an employer's payroll tax expense?
Describe how the Monsanto Corporation is a monopolist. How has the government helped the company maintain its power as a monopoly?
Calculate a four-quarter weighted moving average for the number of America Online (AOL) subscribers for the nine quarters of data. The data are reported in thousands.
Workforce, Inc. had beginning inventory in March consisting of 15,000 units (60 percent converted) and ending inventory consisting of 20,000 units (40 percent converted).
AVPR Company sets up a qualifying SPE to sell their accounts receivable (A/R) to the SPE. The SPE meets the unconsolidated requirement under GAAP. The most likely outcome of using the SPE by AVPR will be to:
At the end of the year, Roger's share of partnership liabilities increased by $20,000. Roger's basis in the partnership interest at the end of the year is:
What ratio indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit?
For Bobby Company, sales is $1,000,000 (5,000 units), fixed expenses are $300,000, and the contribution margin per unit is $80. What is the margin of safety in dollars?
During the year, Oscar travels from Raleigh to Moscow (Russia) on business. His time was spent as follows: 2 days travel (one day each way), 2 days business, and 2 days personal. His expenses for the trip were as follows (meals and lodging reflect..
Prepare a journal entry for carlton company sells office equipment on sept.2007, for $21,000 cash. the office equipment originally cost $72,000 and as of Jan.1 2007 had accumulated deprication of $42,000. Depreciation for the first 9 months of 200..
Julia currently is considering the purchase of some land to be held as an investment. She and the seller have agreed on a contract under which Julia would pay $1,000 per month for 60 months, or $60,000 total.
Prepare a master budget including a budgeted income statement, balance sheet, statement of cash receipts and disbursements, and supporting schedules for the months January through March 2008.
The Pima and Southern Railroad (PSRR) is a small railroad operating in rural Arizona. It exists by carrying freight to remote areas of the southwest. This year the PSRR needs to replace a 30-mile section of its track. The PSRR has bids from a cont..
Prepare journal entries to record the following transactions entered into by Harper Company:
Keefe, Incorporated, acquires 70% of George Company on September 1, 2005, and an additional 10% on April 1, 2006. Annual amortization of $5,000 relates to the first acquisition and $3,000 to the second. George reports the following figures for 200..
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