The cost method and the par value of common stock
During 2012 Nova, Inc. made several treasury stock transactions. For each of the following give the entry(s) that Nova would have made. Nova uses the cost method and the par value of common stock is $10.
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Evan transferred inventory to a corporation in a Code Section 351 transaction. His basis in the inventory was $10,000 and its value was $8,000. If he received $2,000 in cash and 100 shares of stock, the resulting bases are?
If the patient has no astigmatism and contact lenses are prescribed, what is the power of the lens to correct the patients vision?
Calculate the length of hollow cable that would give the same resistance as 1 m of 12-gauge solid cable.
Responding to an alarm, an 88.4 kg fireman slides down a pole to the ground floor, 4.60 m below. The fireman starts at rest and lands with a speed of 5.74 m/s. What is the magnitude of the force exerted by the pole on the fireman? Ignore air resistan
Jack transferred property with an adjusted basis of $45,000 to JKL Corporation. There was a $35,000 mortgage on the property. In exchange for the transferred property.
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Green Co. pays a weekly payroll of $100,000 that includes federal taxes withheld of $40,500, FICA taxes withheld of $22,000, and 401(k) withholdings of $25,500. What is the effect of assets and liabilities from this transaction?
The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units.
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