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The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?
a. 5,000
b. 35,000
c. 45,000
d. 55,000
For 2010, Skresso Co. reported $3.64 of earnings per share of common stock. During 20011 the firm had a 4% common stock dividend.
the basic model of competition reviewed finds that in the long run all firms in a purely competitive industry will earn normal profits. if all firms will only earn a normal profit in the long run, why would any firms bother to develop new products..
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders' equity at the end of the..
Ming Company is considering two alternatives. Alternative A will have sales of $150,000 and costs of $100,000. Alternative B will have sales of $180,000 and costs of $120,000.
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.
Would a traditional income statement differ depending on whether the business is a service organization, merchandiser, or manufacturer?
Anthony and Latrisha are married and have two sons, James, age 25 and Jonas, age 13. Both sons are properly claimed as dependents. Anthony and Latrisha's marginal tax rate is 25% in the current year and they file a joint return. Both James and Jon..
Some of the business practices portrayed in the film Inside Job would be criticised by both John Rawls and Robert Nozick. Identify and describe some of these problematic practices in Inside Job and then.
Solutions Corporation, a computer vendor and consulting company, uses the accrual method of accounting. Its tax year is the calendar year. The following are three of the corporation's transactions during the current year:
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2011.
Lance Brothers Enterprises acquired $750,000 of 1% bonds, dated July 1, on July 1, 2011, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity.
An IT system is designed to ensure that management possesses the information it needs to carry out its functions through the integrated actions of.
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