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Kuchman Kookware issued 40,000 shares of its $8 par value common stock for $9 on Jan 1 year 1. Kuchman repurchased 1,000 shares at $8 per share on April 1 year 2 resold 500 shares at $9 per share on July 1 year 2, and on October 1 year 2 resold the final 500 shares at $5 per share. Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at Dec 31. Year 2 would be reduced by ?
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income?
At December 31, 2010 and 2009, Glass Corp, had 120,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2010 or 2009. Net i..
The division incurred before-tax operating losses of $130,000 from the beginning of the year through December 15.
The value of an investment can be described as equal to the present value of its future cash flows, discounted at an appropriate interest rate. Why does an investment near its maturity have insignificant risk of change in value because of changes ..
Neer Co. has a probable loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The loss accrual should be:
What are the names of the two methods for treating the pre-acquisition revenue and expense items of a subsidiary purchased during a fiscal period?
What is the impact of accounting errors on the balance sheet and income statement? How are errors handled?
Emron Company owns a 100% interest in the common stock of the Dietz Company. On January 1, 20X2, Emron sold Dietz a fixed asset that Dietz will use over a 5-year period. The asset was sold at a $5,000 profit. In the consolidated statements, this p..
How would a Balanced Scorecard for Chadwick, Inc., differ from ones developed inits divisions, such as the Norwalk Pharmaceutical Division? Do you anticipate that there might be major conflicts between divisional scorecards and those of the corpor..
During 2010, Barney Company purchased marketable equity securities as a short-term investment and classified them as trading securities. The cost and market value at December 31, 2010, were as follows:
The options can be converted into common stock after July 1, 2011. The required service period is three years. How much compensation expense will be recorded for the year ending December 31, 2010 assuming that the fair value approach is used?
The concept of operating leverage Signifies to which of the following?
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