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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
BFD Co has occurrence rapid growth in turnover since its formation three years ago but it has been unable to maintain net profit margin which has fallen from 19% in 2002 to 12% in
The following table represents the demand for a product for the years 1990 to 2007: a. Develop a linear trend line and use it to predict the quantity demanded for 2008,
profit margin 2.5%, equity multiplier 2.0,sales $50000, common equity $25000.compute return on common equity.
Blue sky Company's 12-31-13 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of the book value's are the same as the market values except for land, whi
Circumstances under which a subsidiary company can be excluded from consolidation Consolidated financial statements shall include all subsidiaries of the parent A parent need
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of $
Changes in accounting estimates In preparing financial statements, it may be difficult to arrive at exact values for certain items to be presented in the financial statements and
Q. Given the following data, what is net income? (Note: Not all items shown below will be included in income.) Cost of Goods Sold 8 Accoun
Change in profit sharing ratio When there is a change in profit sharing ratio, it means that some of the partners will get higher profits based on the new ratios in the future wh
Activity Cost Drivers An element of measurement for the stage (or quantity) of an activity that is performed within a business company. Hence, a movement cost driver represen
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