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On June 1, ACME Corporation, declared and issued a 15% stockdividend to each of its 400,000 outstanding shares of $2 par value common stock. On November 1, ACME declared a 4-for-1 stock splitand changed its par value accordingly. The market value of ACME's stock was $10 per share on June 1 and $14 per share on November 1. Immediately before the stock dividend, ACME's stockholders' equity appeared as follows:
Common stock (400,000 $2 par shares issued)
$ 800,000
Paid-in capital in excess of par
1,200,000
Contributed capital
2,000,000
Retained earnings
1,000,000
Total stockholders' equity
$3,000,000
Prepare the stockholders' equity section after the stockdividend and stock split.
bonds usually sell at a price that is different from the bonds face value. when this happens the bonds are sold at a
1. what are some common legal entities used for operating a business? what types of business entities does the u.s. tax
Calculate the amount to be debited or credited for equipment during the preparation of the 2008 consolidated financial statements.
The spot rate of exchange, S(MXN/USD), between the Mexican peso (MXN) and U.S. dollar (USD) is MXN 11.95/USD and the 6-month futures rate is MXN 12.4328/USD. If U.S. interest rates are 5% per annum then the annual interest rate in Mexico must be
Which of the following is recorded under Long Term Liabilities section of the Balance Sheet?
EZ, Inc., reports pretax accounting income of $400,000, but due to a single temporary difference, taxable income is $500,000. At the beginning of the year, no temporary differences existed. EZ is subject to a tax rate of 40%.
Prior to the end of an audit, the CFO of your client resigns.
Calculate the amount of additional investment that the stockholders made during 2011. Assuming that the corporation declared and paid $10,000 in dividends during 2011, calcuate the amount of net income earned by the corporation during 2011.
Calculate the annual income of the company using (1) the percentage-of-completion method and (2) the completed-contract method.
Suppose that in 2010, Global launches an aggressive marketing campaign that boosts sales by 15%.However, their operating margin falls from 5.57% to 4.50%. Suppose that they have no other income, interest expenses are unchanged, and taxes are the s..
Ted paid $73,600 to receive $10,000 at the beginning of each year for ten years. This would repay the principal plus 6% interest. What difference does it make whether the contract is treated as an annuity as compared to an original issue discount ..
the following items appeared in the accounting records of trigueros a retail music store that also sponsors concerts.
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