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The common stock of Warner Inc. is currently selling at $110 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $10; book value is $70 per share. Five million shares are issued and outstanding. (a) How much is the debit to retained earnings if the board votes a 2-for-1 stock split? (b) Prepare the necessary journal entries if the board votes a 100% stock dividend.
Prepare the necessary journal entry to close the overhead account if the balance is considered immaterial. Prepare the necessary journal entry to close the overhead account if the balance is considered material.
Discuss how your understanding of the balance sheet and income statement may be applied to your current or future position
A calendar year corporation in its first year of operations reports earnings and profits of $50,000. In December of that year, it distributes land worth $40,000 to one of its shareholders. The corporation's basis in the land was $35,000, and the l..
daja and whitnee had capital balances of 140000 and 160000 respectively at the beginning of the current fiscal year.
everett miguel and ramona are partners sharing income 123. after selling all of the assets for cash dividing losses on
Prepare a statement of partnership capital for the year ended December 31, 2011.
ace chemical company manufatures a liquid used to was boats. ace began 2011 with 10000 units in process with cost of
during 2010 gary earned 57000 as an executive. gary who is single supported his half sister who lives in a nursing
in a hospital many of the costs are indirect thus must be allocated to the patients cost profile. which of the below
Harry Dorffman owns and operates Harry's Abstracting Service. Harry's two revenue generating operations (Abstracting Services and Closing Services) are supported by two service departments: Clerical and Custodial. Costs in the service departments ..
cash flows during the first year of operations for the harman-kardon consulting company were as follows cash collected
Identify the primary components of the conceptual framework for business organizations and explain the purpose of each component.
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