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Incentive Corporation was organized in 2009 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $4 per share. 12,000 shares. During the first year, the following selected transactions were completed: a - Issued 6,000 shares of common stock for cash at $20 per share. b - Issued 2,000 shares of common stock for cash at $23 per share. Required: 1 - show the effects of each transaction on the accounting equation. 2 - Give the journal entry required for each of these transactions. 3 - Prepare the stickholders' equity section as it should be reported on the 2009 year-end balance sheet. At year-end, the accounts reflected a profit of $100. 4 - Incentive Corporation has $30,000 in the company's bank account. Should the company declare cash dividends at this time? Explain.
Which of the following financial statements is rarely the object of vertical analysis?
assume the following facts2008 taxable incomemodified 7000 2009 net operating loss 12000 2010 taxable incomemodified
what are erosion costs? provide one real-life example of an erosion cost for a project. should erosion costs be
Niven Co., a developmental stage enterprise, incurred the following costs during its first year of operations:Legal fees for incorporation and other related matters $55,000Underwriters fees for initial stock offering 40,000Exploration costs and pu..
lexis company purchased equipment on janu 1 2012 for 35000 the estimated useful life of the equipment was 7 years and
As of June 30, 2010, Dallas Company has assets of $100,000 and owner's equity of $5,000. What are the liabilities for Dallas Company as of June 30, 2010?
environmental landscaping inc. is preparing its budget for the first quarter of 2012. the next step in the budgeting
Prepare new income statements for the firms assuming each sells one unit less (i.e. each firm sells 9 units)
a popular product of loring glassworks is a hand-decorated vase.the companys standard cost system calls for .75 hours
enter question here...refer the table below maturity coupon bid price asked price asked yield 2012 may 15 1.375 10105
On January 1, 2009, D Corp. granted an employee an option to purchase 6,000 shares of D's $5 par common stock at $20 per share.
Depreciation of general capital assets is not recorded in the accounts of any of the governmental funds. If a building is transferred from the General Fund to an internal service fund because the character of its use changes, should the internal s..
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