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Two million options were forfeited when an executive resigned in 2012. All other options were exercised on July 12, 2015, when the stock's price jumped unexpectedly to $20 per share.
On March 1, 2010, the fair market value of Ruiz's common stock was $40 per share and the fair market value of the warrants was $2.00. What amount should Ruiz record on March 1, 2010 as paid-in capit
At January 1, 2010, Cameron Company's outstanding shares included the following.
How much will a firm need in cash flow before tax and interest to satisfy debtholders and equityholders if: the tax rate is 35%, there is $13 million in common stock requiring a 10% return, and $6 m
The financial statements of the Nelson Manufacturing Company reports net sales of $500,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively.
Examine the need for auditing, including its importance and its impact on business.
Beginning inventory is $28,000. Ending inventory is $47,000. Net purchases for the year are $110,000. The company's normal gross profit percent is 60%. How much is net sales revenue?
job B,which is still in process at year end,shows charges of 2500 for direct materials and 4000 for direct labour. should any overhead cost be added to job b at year end? Explain.
Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.
She receives a proportionate nonliquidating distribution from the partnership consisting of $10,000 of cash, unrealized accounts receivable (basis of $0, fair market value $30,000), and inventory (
Immediately before the distribution, Barry's basis in the partnership interest was $30,000. As a result of the distribution, Barry recognizes:
The accounting concept or principle applied when the cost of short-term marketable securities is adjusted to market value is:
Assuming unit materials costs of $3 and unit conversion costs of $6, what are the costs to be assigned to the units (a) transferred out and (b) in ending work in process?
If the basic salary of an employee is Rs. 30000 and allowances are Rs. 18,000. What is the taxable income of the employee?
Andrea's Hobbies produces and sells a luxury animal pillow for $40.00 per unit. In the first month of operation, 3,000 units were produced and 2,250 units were sold. Actual fixed costs are the same
Gains and losses on the purchase and resale of treasury stock may be reflected only in:
Foster Corporation issued a $100,000, 10-year, 10 percent bond on January 1, 2010, for $112,000. Foster uses the straight-line method of amortization. On April 1, 2013, Foster reacquired the bonds f
The predetermined overhead rate ($18.50 per direct labor hour) is based on expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead c
Stacey and Andrew each own one-half of the stock in Parakket Corporation, a calendar year taxpayer. Cash distributions from Parakeet are : $350,000 to Stacey on April 1 and $150,000 to Andrew on May
Albert transfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on th
Which of the following statements is correct regarding the taxation of C corporation?
During 2010, Sparrow Corporation, a calendar year C corporation, had operating income of $510,000, operating expenses of $370,000, a short-term capital loss of $25,000, and a long-term capital gain
Which of the following statements is incorrect with respect to determining current E&P?
Tonya had the following items for last year: Determine Tonya's adjusted gross income for the current year.
Find the mean and standard deviation for the batting average for a player in the most recently completed MBL season. What batting average would separate the top 5% of all hitters from the rest?