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A firm's payroll for the week ended 15 May included received salaries of $20,000. All of that week's payment is subject to FICA social security taxes of 6.2 percent and Medicare taxes of 1.45 percent.
The following data is available for Vincent Corporation: Dividends paid to common stockholders $45,000
The following information is available for Wenger Company:
On January 1, 2008, Dolan Corporation had 60,000 shares of dollar 1 par value common stock issued & outstanding. During the year, following transactions occurred:
Reiner Wholesale Merchandise had 20,000 shares of 6 percent, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2008.
Richman Company has 120,000 shares of $5 par value common stock outstanding. It announced a 15% stock dividend on June 1 when market value per share was $12. The shares were issued on June 30.
Match every item or event pair below with the indicated change in the item. An individual categorization may be used more than once, or not at all.
Boswell Company has the following stockholders' equity accounts;
Tyler Company has 100,000 shares of $40/value preferred stock authorized. During the year, it had following transactions related to its preferred stock.
The following items were shown on the balance sheet of Herman Corporation on December 31, 2008:
Garner Corporation is authorized to issue 1,000,000 shares of $5 par value common stock. During 2008, its 1st year of operation, the firm has following stock transactions.
Keys Corporation's 5-year bonds yield 6.50%, and 5-year T-bonds yield 4.40%. The real risk-free rate is r* = 2.5%, the default risk premium for Keys' bonds is DRP = 0.40%,
Which of the following statement is correct concerning return on investment computations?
At present, the firm is undecided between the following two financing plans [Suppose tax rate is 40%].
Emco Products has a present capital structure consisting only of common stock [10 million shares]. The firm is planning a major expansion.
The Smooth Flight Airline Corporation is considering lowering fares in an attempt to fill unused seats on its regular flights from N.Y. to Chicago. Recent capacity on every flight is 250 travelers.
lainfield Bakers, manufactures & sells a popular line of fat-free cookies under the name Aunt May’s Cookies. The process Plainfield uses to produce the cookies is labor-intensive;
Aunt Kity's Pies is a small bakery that sells its products to local restaurants and supermarkets. The Bakery's most recent income statement is given below:
The most recent monthly income statement for Kennaman Stores is given below:
Person Corporation makes two types of backpacks. Information for the corporation's activity during a typical month are presented below:
Yoko Limited had the following information (in millions of yen) for a given period:
The Independence Corporation had the following manufacturing information for the year 2006 [in thousands of dollars].
Describe the objectives and how do these objectives relate to the significance of the balance sheet to internal users like management and external users like investors and creditors?
Compute the amount of operating incomes [or loss] that you would expect each firm to report in 2009 if sales were to;
Explain why is inventory valuation significant to the presentation of the balance sheet and the income statement?