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Prepare the T-Account entries for the following stock transactions of the ALEXANDER Corporation:
Issued 1000 shares of $2 par common stock for $68 per share. The down payment is $52 per share with the remainder to be paid in three months.
Precision Numbers, Inc., manufactures pocket calculators. Costs incurred in making 25,000 calculators in April included $85,000 of fixed manufacturing overhead. The total absorption cost per calculator was $12.50.
Determine the dividends per share and total cash dividends paid to the preferred and common stockholders during each of the four years. If an amount is zero, enter "0". If required, round your answers to two decimal places.
For the year ending June 30, 2008, the Austin Corporation has current assets of $ 275,000 and total assets of $ 900,000. It also has current liabilities of $ 150,000, equity of $ 200,000, and retained earnings of $ 100,000. The marginal tax rate f..
What is the cash realizable value of the accounts receivable before the write-off? What is the cash realizable value of the accounts receivable after the write-off?
What is the amount of the discount, and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?
Mr. Green seeks your advice as to the tax consequences attached to each offer. Assume that he will no other sale of business assets or capital assets during the year. What is your advice?
On March 3, Hinckley Appliances sells $580,000 of its receivables to Marsh Factors Inc. Marsh Factors assesses a finance charge of 3% of the amount of receivables sold. Prepare the entry on Hinckley Appliances' books to record the sale of the rece..
Explain the impact of tax treatment legislation on employee disposable income and employer profits.
A debit balance in the Allowance for Doubtful Accounts
The approach the controller recommended is to compare SUPERVALU's revenue recognition accounting policies to three similar companies, one reporting under US GAAP ( Safeway ) and two reporting under IFRS ( Ahold and Loblaw Companies ).
1. What is most unusual about the balance sheet? 2. Compute trend percentages for net sales and net income. Use 2003 as the base year. Which trend percentage looks strange? Explain your answer.
Profit margins and turnover ratios vary from one industry to another. What differences would you expect to find between the turnover ratios, profit margins, and DuPont equations for a grocery chain and a steel company?
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