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On May 1 Company reacquired 2,000 shares of its own $2 par value stock for $100,000 cash. On June 30, 800 of the treasury shares were reissued at a price of $70 per share.
Question:
Record the journal entry for the May 1 transaction:
What is the Journal entry to record the reissuance of 800 shares of stock on June 30?
the charges to work in process-assembly department for a period together with information concerning production are as
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The Sarbanes-Oxley Act of 2002 (SOX) was the catalyst for significant changes in the accounting profession and financial world. One objective of SOX was to deter fraudulent activity within an organization.
The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported:
Kendra Brown, a sole proprietor, acquires a new five-year asset on April 17, 2014, for $480,000. This is the only asset acquire by Kendra during the year. Kendra does NOT elect §179 and elects out of bonus depreciation. On September 1, 2014..
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For tax purposes, the corporation has elected to take advantage of the maximum benefit for expensing organizational costs. No additional book/tax differences exist. For the year ended December 31, Year 1, Dale Corporation's taxable income was:
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