What is the maximum amount that the inventory
When inventory declines in value below original (historical) cost, and this decline is considered other than temporary, what is the maximum amount that the inventory can be valued at?
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Issued 10,000 shares of common stock for a building and land. The building was appraised for $20,000, but the value of the land is undeterminable. The stock is selling for $10 ob the open market.
During the current year, Sports +, Inc., operated two business segments: a chain of surf and dive shops and a small chain of tennis shops. The tennis shops were not profitable and were sold near year-end to another corporation.
The Board of Directors and executive officers of a corporation have a fiduciary duty to safeguard the interests of their shareholders.Why does insider trading breach that duty?
Prepare a condensed income statement (including earnings per share), assuming that 910,000 shares of common stock were outstanding throughout the year.
Camtech, which expects to start operations on 1-1-2008, will sell digital cameras in shopping malls. Camtech has budgeted sales as indicated in the following table.
Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $3,000 and received 8,500 pieces of candy that are allocated among three groups.
Express, Inc., has a total of 80,000 shares of common stock outstanding and no preferred stock. Total stockholders' equity at the end of the current year amounts to $5 million and the market value of the stock is $66 per share.
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