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Present your solution to the following problem in an Excel document.Problem 1Cool Beans Company has 30,000 shares of 2% cumulative preferred stock of $50 par and 50,000 shares of $50 par common stock. Below are the amounts distributed as dividends.$20,000$50,000$90,000Please determine the amount of dividends paid to common and preferred stock for each scenario presented above.Problem 2On April, 10 2010, Cougs Company issued for cash 20,000 shares of no-par common stock for $40. On April 15, Cougs issued at par 2000 shares of 5%, $50 par preferred stock for cash. On May 1, Cougs Company issued for cash 2,000 shares of 5%, $50 par preferred stock for $55.Journalize the entries to record the April 10, April 15 and May 1 transactionsProblem 3You have noted that there are 3 important dates associated with a cash dividend of $25,000. These are May 1, May 15 and May 30. Please journalize the preceding transactions.
Richards makes cash contributions of $35,000 to charitable organizations. What is Richards Corporation's charitable contribution deduction for the current year?
The Digby team has just purchased $39,660,000 of plant and equipment that has an estimated useful life of 15 years. Suppose at the end of 15 years this plant and equipment can be salvaged for $3,966,000 (1/10th of its original cost). What will b..
Variance analysis, material and labor Each unit of job Y703 has standard requirements of 5 pounds of raw material at a price of $100 per pound and 0.5 hour of direct labor at $12 per hour.
Calculate the monthly labour turnover rate and the equivalent annual rates under the three methods of labour turnover measurement..
Some people have more taxes withheld from their paychecks than is needed in order to get a refund every spring. Why would they do this? Do you agree with this strategy for a taxpayer?
Write an analysis about test of liquidity that compare Radio Shack and Conn's to Best buy.
During the year, National sold 48,000 washing machines and paid warranty costs of $340,000. In its income statement for the year ended December 31, National should report warranty expense of
Use the purchases journal and the cash disbursements journal to record these transactions. Prepare a schedule of accounts payable. There were no accounts payable on May 1.
Virginia, who was experiencing financial difficulties, was able to adjust her debts as follows. Determine the tax consequences to Virginia.
Disney's variable costs are 30% of sales. The company is contemplating an advertising campaign that will cost $22,000. If sales are expected to increase $40,000, by how much will the company's net income increase? and what is the process?
Emerson produces all of its toasters in a single plant. Normal activity is 45,000 units per year. Standard overhead rates are computed based on normal activity measured in standard direct labor hour. During the year, Emerson experienced the follow..
A city received supplies that had been previously encumbered. The supplies were encumbered for $5,000 and had an actual cost of $4,900. To recognize this event the county should make which of the following entries?
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