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In each of the following independent cases, it is assumed that the corporation has $400,000 of 6% preferred stocks and $1,600,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2009 and 2010.
(a) As of 12/31/11, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipation?
(b) As of 12/31/11, it is desired to distribute $400,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 11% in total?
(c) On 12/31/11, the preferred stockholders received a $120,000 dividend on their stock, which is cumulative and fully participating. How much money was distributed in total for dividends during 2011?
There was no payment of dividends to owners during the year. What was the amount of the change in total stockholders' equity during the year?
"Measurement is arguably the most important concept in the discipline of accounting, since without measurement; there would be no need for accounting.
Determine whether deficiencies existed in the IT environment, and suggest ways to improve audit trails, data integrity, and policies and procedures in order to reduce the risk of fraudulent activity.
corporate ethics and fraud have received much media attention through reporting of scandals at major corporations. you
question donovan company received a bank statement for the month of september 2012 which indicates a balance per bank
You find short time lags between deposits and withdrawals and large deposits made on Fridays. What should you suspect? List out the things that should not be done in a fraud investigation.
Then use additions and subtractions to show the effects of the transactions on individual items of the accounting equation. Show new balances after each transaction.
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You are required to do the journal entries for the above 11 where the figures are obtained from the table above (the opening balances) and the information in the description of each adjusting entry to be completed.
The trial balances shown on page 208 are before and after adjustment for Amit Company at the end of its fiscal year - Prepare the adjusting entries
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The beginning and ending balances of the Plant account were $12,000 and $20,000, respectively, and during the period a building with a cost of $6,000 and accumulated depreciation of $3,000 was sold for $9,000. How much in plant purchases were made..
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