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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
The opening entries 1. Assets of the estate or trust In both cases the various assets of the estate or trust are debited to appropriate accounts and credited to the Estate Ca
The costs that follow were extracted from the accounting records of various different manufacturers: 1. Weekly wages of an equipment maintenance worker 2. Marketing costs
General limitations of Net Present Value when applied to investment appraisal NPV is a generally used technique employed in investment appraisal but is subject to a number of r
Consider a worker who earns $8.00 per hour and has no other source of income. Compare the following two transfer policies: i. A negative income tax that sets the tax (per day)
Significant Deficiency -Control deficiency or combination of control deficiencies, which adversely affects company's ability to authorize, initiate, process, record or report exte
As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: Cash 80,000 non cash
According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information? Comparability and neutrality Unde
1. Finco is a wholly owned Finnish manufacturing subsidiary of Winco, a domestic corporation that manufactures and markets residential window products throughout the world. Winco h
1. Kinetics is considering a project that has a NINV of $874,000 and generates net cash flows of $170,000 per year for 12 years. What is the NPV of this project if Kinetics' cost o
Sales volume reaches the maximum capacity of the new machine in Year 4. The positive NPV point to that the investment in Machine Two is financially acceptable althoug
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