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Problem 11-7A (Part Level Submission) On January 1, 2014, Primo Corporation had the following stockholders' equity accounts. Common Stock ($10 par value, 80,900 shares issued and outstanding) $809,000 Paid-in Capital in Excess of Par Value-Common Stock 201,900 Retained Earnings 506,200 During the year, the following transactions occurred. Jan. 15 Declared a $1.20 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 5% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. May 15 Issued the shares for the stock dividend. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $5.) Dec. 1 Declared a $0.90 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. Dec. 31 Determined that net income for the year was $290,500.
With the number of workers currently employed, that means that the company is committed tp paying its direct labor work force at lease 5600 hours in total each month even if there is not enought work to keep them busy. Construct the direct labor b..
yoder co. sells maintenance contracts to the purchasers of the equipment they sell. the cost of the contract is 1450
debt securities sold to investors that must be repaid at a particular date some years in the future are calledaccounts
Andree is about to graduate college with a management degree. She has been offered a job as a sales representative for a pharmaceutical company. The job will require significant travel and entertainment expenses for which she will be given a salar..
Thomas Company has total fixed costs of $360,000 and variable costs of $14 per unit. If the unit sales price is reduced from $24 to $20 and advertising is increased by $10,000, sales will increase from 40,000 to 65,000 unit. What are the contribut..
A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed overhead of $120,000. The budget for 25,000 hours would reveal total overhead costs of:
a loan is being repaid by 15 annual installments of 1 000 each. interest is at an effective rate of 5. immediately
The total amount of overhead applied to work in process for August would be:
1. assume that you have graduated from bridgewater state college and are a practicing cpa. one of your clients karen
Is it possible that a company receives a unqualified opinion from the auditors on the financial report but a qualified one on internal control?
stratford company distributes a lightweight lawn chair that sells for 80 per unit. variable expenses are 40.00 per unit
kone company sells two types of computer chips. the sales mix is 30 q-chip and 70 q-chip . q-chip has variable cost per
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