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Pinson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.
Jan. 10 Issued 80,000 shares of common stock for cash at $4 per share.Mar. 1 Issued 12,000 shares of preferred stock for cash at $54 per share.May 1 Issued 120,000 shares of common stock for cash at $5 per share.Sept. 1 Issued 5,000 shares of common stock for cash at $6 per share.Nov. 1 Issued 3,000 shares of preferred stock for cash at $56 per share.
Journalize the transactions.
Visit a local movie theater and check out both its concession area and its showing areas. The manager of a theater must confront questions such as: How much return do we earn on concessions?
Globe uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of B2 would be assigned overhead of:
Segregation of Duties (SoD) and other classic internal controls such as management oversight have been adapted to consider technology. Compare/contrast the classic controls with their adaptations for technology.
Given the following probability distribution, what is the expected return and the standard deviation of returns for security J?
On August 1, 2010, Dambro Co acquired 200, $1,000, 9% bonds at 97 plus accrued interest. The bonds will be added to Dambro's available for sale portfolio. The bonds were dated May 1, 2010, and mature on April 30, 2016, with interest paid each October..
ABC Hardware store is open for business 350 days a year. Annual demand for a power cutter at this store is 700 units. Replenishment cost is $15 per order and annual inventory holding cost is 10% of the inventory value.
Write a memo to your partner, citing the relevant tax authority, to explain how much of the $85,000 loss Mike can deduct on his tax return.
A company shows common size comparisons for two years on balance sheets. There is almost a two-fold increase in cash and equivalents, a 3% decrease in inventories, a small decrease in net property and equipment, and a large increase in retained ea..
Junior Company currently buys 30,000 units of a part used to manufacture its product at $40 per unit. Recently the supplier informed Junior Company that a 20 percent increase will take effect next year.
If a company uses the periodic inventory system, what is the impact on the current ratio of including goods in transit f.o.b. shipping point in the Purchases account and not in the Inventory account?
Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.
John Haven purchased a bond for $9,500. The bond pays $300 interest every six months. If John decides to sell the bond after 18 months for $10,000 what would be his:
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