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On December 31, 2010, the stockholders' equity section of Arndt, Inc., was as follows:Common stock, par value $10; authorized 30,000 shares;issued and outstanding 9,000 shares $ 90,000Additional paid-in capital 116,000Retained earnings 174,000Total stockholders' equity $380,000On March 31, 2011, Arndt declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the fair market value of the stock was $18 per share. For the three months ended March 31, 2011, Arndt sustained a net loss of $32,000.Required:The balance of Arndt's retained earnings as of March 31, 2011, should be
How would the following errors affect the account balances and the basic accounting equation: assets = liabilities + owners' equity? How do the misstatements affect income? 1. The
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No. Account Title Debit Credit 101 Cash . . . . .
five modern accounting techniques
The following are the three-month HIBOR and three-year EFN futures prices for September 2010 contracts. a Determine the HIBOR in three-months for settling the futures
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What is the function of balance sheet
Q. What is Staff Benefit Fund? This is a fund intended to afford certain kinds of amenities and benefits to no gazetted staff as well as to gazetted officers of the Railway ove
Distribution of Assets 1. Proof of debts : If the company is insolvent, the rules in bankruptcy as to provable debts, secured creditors, interests, mutual dealings, annuiti
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