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On January 1, 2013, Tonge Industries had outstanding 440,000 common shares (par $l) that originally sold for $20 per share, and 4,000 shares of 10% cumulative preferred stock (par $100), convertible into 40,000 common shares.On October 1, 2013, Tonge sold and issued an additional 16,000 shares of common stock at $33. At December 31, 2013, there were incentive stock options outstanding, issued in 2012, and exercisable after one year for 20,000 shares of common stock at an exercise price of $30. The market price of the common stock at year end was $48. During the year the price of the common shares had averaged $40.Net income was $650,000. The tax rate for the year was 40%.Required:Compute basic and diluted EPS for the year ended December 31, 2013.
xyz manufacturing company suffered major losses in a fire on december 18 2009. in addition to destroying several
record depreciation for two months on the computer software and equipment bought in transaction 13 and 14. assume
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johns car was completely destroyed by a fire in 2010. its cost and fair market value were 8000. johns claim against
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What is the appropriate balance for the allowance for doubtful accounts at year end? Show how accounts receivable would be presented on the balance sheet.
new equipment was purchased by tignor corporation at a list price of 98000 with credit terms of 210 n30. payment was
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