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The following are the transactions for Smiley, Inc.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> 1. The company is authorized to sell 1,000,000 shares of $10 par value common stock and 50,000 shares of $100 par value 6 percent preferred stock. 2. As of the end of the current year, the company has actually sold 550,000 shares of common stock at $12 per share 3. It has also sold 40,000 shares of preferred stock at $110 per share. 4. 40,000 shares have been repurchased at $60 per share and are currently being held in treasury to be used to meet the future requirements of a stock option plan that the company intends to implement.a. Prepare the general journal entries required to record all of the above transactions.
On December 31, 2006, Crawford Co. estimated that 1.5% of its net sales of $400,000 will become uncollectible.The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2007, Crawford Co.
The company also sells dinnerware that is purchased from unrelated foreign producers. During the tax year 2010, Maria had a U.S. profit of $1.2 million (QPAI) and a profit from the imported merchandise of $100,000. What is Maria's DPAD?
1. the information below shows the assets liabilities and net worth fo a small business. arrange the items into a
A hurricane completely destroyed her duplex the current year. Julie lived in one-half of the duplex and rented out the other half. Julie paid $400,000 for the duplex and has taken $80,000 of cost recovery on the rental portion of the duplex. Th..
You want to purchase a corporate bond that is being issuedtoday by ACME Corp. The terms of the bond are shown below:
Which of the following statements is NOT correct concerning the Cash Budget?
understanding the difference between fixed and variable costs what area of a health care facility or physician practice
The stockholders' equity section of Kay Corporation at the end of thecurrent year showed: Calculate the dollar amount to be reported as the preferred stock account balance.
At the end of the current year, the accounts receivable account of Parker's Nursery Supplies has a debit balance of $350,000. Credit sales are $2,300,000.
1. ramirez company received their first electric bill in the amount of 60 which will be paid next month. how will this
newbury bikes co. is a wholesaler of motorcycle supplies. an aging of the companys accounts receivable on december 31
Prepare the journal entries to record the mortgage loan and thefirst two installment payments.
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