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Karen Company had 105,000 shares of common stock outstanding on January 1, 2011. On August 30, 2011, Karen sold 50,000 shares of common stock for cash. Karen also had 11,000 shares of convertible preferred stock outstanding throughout 2011. The preferred stock is $105 par, 5%, and is convertible into 4 shares of common for each share of preferred. Karen also had 400, 8%, convertible bonds outstanding throughout 2011. Each $1,000 bond is convertible into 35 shares of common stock. The bonds sold originally at par. Reported net income for 2011was $350,000 with a 35% tax rate. The regular common and preferred dividends were paid in 2011.
on august 1 2010 dambro co acquired 200 1000 9 bonds at 97 plus accrued interest. the bonds will be added to dambros
Compute pension expense and prepare the journal entry to record pension expense and the employer's contribution to the pension plan in 2010.
On July 1, the board of Division declared a $30,000 dividend at the time the common stock was selling for $25 per share and the preferred stock was selling for $30. The total dividends paid to each class of stock on the payment date was for prefer..
hickory company manufactures two productsacirceuro14000 units of product y and 6000 units of product z. the company
flux of the magnetic field b through a metalic ring is changing with time. it creates 12 volt electromotive force in
Orbit Airways ourchased a baggage-handling truck for $41,000. Suppose Orbit sold the truck on December 31,2008 for $28,000 cash,, after using the truck for two full years and accumulationg depreciation of $16,000. Make the journal entry to record ..
adirondack corporation is estimating activity costs associated with producing two different sized e-reader tablets. the
1. holey foods has a piece of equipment that it bought on january 1 2011 for 48000 which it sells to an equipment
Don James purchased a new automobile
companies usually prepare an adjusting journal entry to accrue warranty expenses. when this is done the warranty
carla and eliza share income equally. during the current year the partnership net income was 40000. carla made
1. product costs and period coststhe costs that follow were extracted from the accounting records of several different
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