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Two classes of stock authorized: $100 par preferred and $2 par common
how do you record this transaction?
May 18 Issues 30,000 additional shares of $2 common stock for $75 per share.
May 25 Issue 8,000 shares of preferred stock for $125 per share.
July 1 Declare a cash dividend of $1.25 per share on common stock and $3.00 per share on preferred stock to all stockholders ofrecord on July 15.
July 31 Pay the cash dividend declared on July 1.
August 15 Repurchase 9000 shares of treasury stock for $70 per share.
October 1 Reissue 4000 shares of treasury stock purchased on August 15 for $75 per share.
concepts of cost
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
Expenses paid in previous of their use or consumption is termed as prepaid expenses. At the ending of the year, a portion of the payment keeps unconsumed and is treated like an ass
A soft drink maker wants to expand into a neighboring country. They want the product bottled in that country to avoid political issues and to enhance the local image of the produc
Raw Materials: Manufacturing Overhead Bal 1/1: 36,000 Credits: ? Debits: 383,000 Credits: ? Debits: 470,000 Bal: 12/3: 156,000 Work in Process: Bal 1/1: 73,000 Credits: 770,000
Judy's mother, Sarah, died on July 2, 2006, leaving Judy her entire estate. Included in the estate was Sarah's residence (325 Oak Street, Cincinnati, OH 45211). Sarah's basis in th
Labour Variances From our basic data, we can calculate the labour variances as given as: i. Labour Rate Variance = (AH x AR) - (AH x SR)
how to do it
Bottoms Up company produces high quality sports equipment. the companie''s racket division manufactures three tennis rackets- the Standard, Deluxe and the Pro that are widely used
Marvin's Motors Company (MMC) manufactures outboard motors for use on small to medium sized boats. MMC produces three models: the Standard, the Deluxe and the Performance. The comp
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