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Problem - On October 31, the stockholders' equity section of Pele Company's balance sheet consists of common stock $327,600 and retained earnings $423,000.
Pele is considering the following two courses of action:
(1) Declaring a 5% stock dividend on the 81,900 $4 par value shares outstanding
(2) Effecting a 2-for-1 stock split that will reduce par value to $2 per share.
The current market price is $16 per share.
Prepare a tabular summary of the effects of the alternative actions on the company's stockholders' equity and outstanding shares.
Loon, Inc. reported taxable income of $600,000 in 2011 and paid federal income taxes of $202,000. Calculate the company's current E&P.
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1.Review the balance sheet of Arctic Cat in Appendix A. Identify the amount for property and equipment.
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Volume Electronics sold a television to Sarah Merrifield on December 15, 2013. Sarah paid $100 at the time of the purchase and agreed to pay $100 each month for 5 months beginning January 15, 2014. Determine in what month or months revenue from this ..
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