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Contributed capital includes common stock ($5 par) $11,000 and preferred stock ($100 par) $6,000.
Write a short report to the bookkeeper that explains loss contingencies and subsequent events, as well as the importance of their disclosure on the company.
What is a change in accounting principle and how is it reported on a company's statement of retained earnings?
When used with a company's other financial statements, what does the statement of cash flows help external users assess?
Prepare the results from discontinued operations section of Feiner Company's income statement for 2010.
EPS analysis graph for the last 5 years or more and how does it look on a per year basis?
The delivery equipment was purchased on April 2, 2010. It is to be depreciated using the straight-line method over a 10-year life.
For the year, its cost of goods sold was $240,000, its operating expenses were $50,000, its interest revenue was $2,000, and its interest expense was $12,000.
Prepare schedules to show what amounts Dorno Corporation would report on its income statement for total selling expenses and for total general.
Pallest is subject to a 30% income tax rate and had 8,000 shares of common stock outstanding for the year.
During the current year, Ross Corporation purchased a warehouse for $45,000, paid $1,000 dividends, sold land for $7,900, and issued $25,000 of common stock.
Division X (a component of the company) was sold at a pretax gain of $4,700. It had incurred a $9,500 pretax operating loss during 2010.
Examining the Rent Expense account, the controller finds that it includes a $4,800 advance payment for three months' rent.
Prepare journal entries to record the collection of the note receivable and the payment of the note payable.
Define a company's operating cycle. How does working capital relate to this cycle? How is working capital computed?
What is a bond? Give an illustration of how bonds payable would be disclosed on a company's balance sheet.
What are investments by owners? Distributions to owners? In what statement do many companies report these items?
Prepare the current liabilities section of Dorothy Corporation's balance sheet.
Prepare the long-term investments section of Toto Company's year-end balance sheet.
Scarecrow, Inc., issues 50,000 shares of $2 par value common stock. The shares are sold for $25 per share.
The company owns factory machinery with a total cost of $51,000 and accumulated depreciation of $35,300.
Prepare a statement of changes in stockholders' equity of the Osborne Company for 2010.
At the end of the year, Vickelly determined that customers owed it $12,000 and it owed creditors $10,000.
The company's checkbook shows a balance of $4,700, which includes cash receipts from customers of $51,300 and cash payments of $49,300.
Your business associate mentions that she is considering investing in corporate bonds currently selling at a premium.