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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) 0
b) 500
c) 1000
d) 1500
Regency Corp. recently acquired $500,000 of the bonds of Safire Co., one of its subsidiaries, paying more than the carrying value of the bonds. According to the most practical view of this intra-entity transaction, to whom would the loss be attrib..
Charlotte (age 40) is a surviving spouse and provides all of the support of her four minor children who live with her. She also maintains the household in which her parents live and furnished 60% of their support.
Mitchell's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's Paid-in capital - excess of par increase for this transaction?
Jackson Sound produces amplifiers and mixing boards in a modern production facility. The company is well known for its quality products -each item is thoroughly tested before it leaves the plant.
Hutch Corporation finished their fiscal year ending March 31, 2010, with $88,000 of net income. They issued dividends of $22,000 at year end. At the end of the year on March 31, 2010, they had a net loss of ($46,000) and did not distribute any div..
Analyze the difference between discretionary and nondiscretionary fiscal policy. Explain the effects of discretionary and nondiscretionary fiscal policy on governmental revenue and expenditures.
The actual manufacturing overhead cost incurred was $54,000. The manufacturing overhead cost applied to Work in Process was $58,000. The cost of goods manufactured for September was?
On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
Speculating with Currency Futures: Suppose that a March futures contract on Mexican Peso was available in January for $.09 per unit. Also suppose that forward contracts were available for same settlement date at a price of $0.092 per peso.
When doing a horizontal analysis on a business income statement, you notice that sales have decreased by 9%, but the gross profit has increased by 13%. What are some factors that could cause this to happen?
Examine the corporate financial decision-making procedure at your selected organization (Walt Disney). In your analysis be sure to address the following items:
Edison Company manufactures wool blankets and accounts for production costs using process costing. The following information is available regarding its May inventories.
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