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Which of the following is not a legal restriction related to profit distributions by a corporation?
a. The amount distributed to owners must be in compliance with the state laws governing corporations.
b. The amount distributed in any one year can never exceed the net income reported for that year.
c. Profit distributions must be formally approved by the board of directors.
d. Dividends must be in full agreement with the capital stock contracts as to preferences and participation.
Jenco Incorporated's only product is a combination fertilizer-weed killer called Fertikil. Fertikil is sold nationwide through normal marketing channels to retail nurseries and garden stores.
How much estate tax under the 2012 rate schedule and unified credit will Jones save if he dies after three years, during which time the property appreciates to $6.8 million?
Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 31 was $200,000 what is the required adjustment to the Allowance for Doubtful..
How many pounds of apples should Rae's purchase in January? What is the cost in dollars for the required January purchase of apples? How many pounds of apples should Rae's purchase in February?
Bayani Company is planning to sell 100,000 units for $3 a unit and will just breakeven at this level of sales. The contribution margin ratio is 40%. How much are the company's fixed costs?
1. A large inventory of automobiles at an auto manufacturing company ( what constitutes good evidence for net realizable value and classification). 2. Available for Sale Security Investment-( what constitutes net realizable value and classification)
Which of the following journal entries should be made to close the Encumbrances account at the end of the fiscal year?
flexibility of practice when applied to managerial accounting means thata. the information must be presented in
Swanson Corporation issued $8 million of 20-year, 8 percent bonds on April 1, 2009, at 102. Interest is due on March 31 and September 30 of each year, and all of the bonds in the issue mature on March 31, 2029. Swanson's fiscal year ends on Decemb..
Identify required variables and choose descriptive names anddata types for each and draw the hierarchy chart for this program.?c) Write the pseudocode for this program.
The Malbim Company uses a process costing system and adds materials at the beginning. July 1st has 400 units in the beginning inventory (100% materials). The units in beginning inventory (July 1) are only 75% complete on conversion costs-Calculate..
Determine the equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory.
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