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Net income for the year was $83. Cash dividends were $16. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.
On creating a new 100 percent-owned corporation, Ben was advised by his tax consultant to treat 50 percent of the total amount that was invested as a loan and 50 percent as a purchase of corporate stock.
For each company, indicate whether the company is most likely to use job-order costing or process costing.
james inc. incurred the following infrequent losses during 2012 140000 write-down of equipment leased to others. 80000
On April 1, 2014, Rasheed Company assigns $400,000 of its accounts receivable to the Third National Bank as collateral for a $200,000 loan due July 1, 2014. The assignment agreement calls for Rasheed Company to continue to collect the receivab..
five hundred shares of stock were originally purchased for 30 per share and are being held as trading securities. the
The average market price of FGI's common stock was $15 during 2011. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2011.
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2011.
Legolas Company paid $5,000 cash for executive salaries. When thejournal entry to record this payment was made, the payment wasmistakenly added to the cost of land purchased by Legolas. Thejournal entry needed to correct this error wouldbe:
you have the following ledger balancescash
Salter Inc.'s unit selling price is $50, the unit variable costs are $35, fixed costs are $125,000, and current sales are 10,000 units. How much will operating income change if sales increase by 5,000 units?
Regarding the gift-splitting provision of 2513, comment on the following.
a retail department store used the following cost-volume relationship were used in developing a flexible budget for the
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