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Kendrick Corporation was organized on January 2, 2011. During 2011, Kendrick issued 20,000 shares at $24 per share, purchased 3,000 shares of treasury stock at $26 per share.
Michelangelo Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 4%, preferred stock of $25 par, and 31,000 shares of $75 par common.
The Alpenrose Milk Company uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of March, 2009.
It is agreed that the land is to be priced at $200,000 and the building at $500,000, and that Jane Lo's equity will be exchanged for stock at par.
Dorantes Manufacturing Company uses a standard cost system. In 2010, 28,000 units were produced. Each unit took several pounds of direct materials and 11/2.
How did Mr. Mandoff keep his new investments at such a high rate of return and keep paying off investors and giving to charities? Explain how he was able to do what he did financially so long.
Prepare income statement for both years using variable costing. Has firm performance, as measured by income, improved or declined frm year 1 to year 2?
Veracruz produced 30,000 units in the first year and sold 25,000. In the second year, it produced 25,000 units and sold 30,000 units. the sellingprice per unit each year was $21.
Ruth Ames died on January 10, 2012. In filing the estate tax return, her executor, Melvis Sims, elects the primary valuation date and amount (fair market value on the date of death).
Orosco Supply Co. has the following transactions related to notes receivable during the last 2 months of 2011.Journalize the transactions for Orosco Supply Co.
Problem 1 Your firm is contemplating the purchase of a new $720,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life.
The company presently operates the machine for a single eight-hour shift for 22 working days each month. Management is thinking about operating the machine for two shifts.
LF's Pest Control Products has the following information available: Net Income $25,000 Cash Provided by Operations 31,000 Cash Sales 65,000 Capital Expenditures 11,000 Dividends Paid 3,000 What is
Southwest Community Hospital uses a job-order costing system to track charges for each patient. The following charges relate to Candice O'Dea, who had laparoscopic knee surgery.
Research a company headquartered in your home state for which you would like to work, with a focus on the types of information your selected company must protect.
On October 1 of the current year a corporation sold, at par plus accrued interest, $1,000,000 of its 12% bonds, which were dated July 1 of this year. What amount of bond interest expense should the
Bloom Orchards produced a good crop of peaches this year. After preparing the following income statement, the company believes it should have given its No. 3 peaches to charity and saved its efforts
After careful research, you find the present value of the free cash flows of a firm to be $100 million. The market value of the firm's preferred stock is $15 million, while the market value of the f
On January 1, a company issued 10-?year, 10% bonds payable with a par value of $500,000, and received $442,647 in cash proceeds. The market rate of interest at the date of issuance was 12%.
Ross-Jordan Financial has suffered losses in recent years, and its stock currently sells for only $0.50 per share. Management wants to use a reverse split to get the price up to a more "reasonable"
Accounts receivable arising from sales to customers amounted to $35,000 and $40,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $150,
Bavarian Sausage's enterprise value is $75,000,000, the market value of its debt is $23,000,000 and the market value of its preferred stock is $5,000,000. If the company has 3,500,000 shares outsta
Titania Co. sells $400,000 of 12% bonds on June 1, 2012. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2016. The bonds yield 10%.
XYZ Juice, Inc. is not paying a dividend right now, but is expected to pay a $4.56 dividend two years from now. Investors expect that dividend to grow by 5% every year forever.