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Bennett Company paid cash dividends totaling $150,000 in 2008 and $75,000 in 2009. In 2010, Bennett intends to pay cash dividends of $800,000.
On August 10, Jameson Corporation reacquired 8,000 shares of its $100 par value common stock at $134. The stock was originally issued at $110. 1000 shares were resold on November 21 at $130.
Company A sold 8 million shares of its $1 par common stock to provide funds for research and development. If the issue price is $12 per share, what is the journal entry to record the sale of the sha
AI Tool and Dye issued 8% bonds with a face amount of $160 million on January 1, 2011. The bonds sold for $150 million. For bonds of similar risk and maturity the market yield was 9%.
Jan. 7 Articles of incorporation are filed with the state. The state authorized the issuance of 10,000 shares of $50 par value preferred stock and 200,000 shares of $10 par value common stock.
The projected benefit obligation was $80 million at the beginning of the year and $85 million at the end of the year. At the end of the year, pension benefits paid by the trustee were $6 million a
On January 1, a company borrowed cash by issuing a $300,000, 5%, installment note to be paid in three equal payments at the end of each year beginning December 31.
JC Controls, Inc. issued $12,000,000 of 15-year, 10% bonds. The market rate at the time of issue was 12% Interest is payable semiannually.
Pension plan assets were $80 million at the beginning of the year and $83 million at the end of the year. The return on plan assets was 5%. At the end of the year, cash invested in the pension fund
NewCar.com, Inc., an innovative, Internet-based automobile retailer based in Ghana, is beginning to seek customers in the U.S. Currently, it has no sales personnel or assets located in the U.S.
When computing return on common stockholder's equity, retained earnings should be included as part of common stockholders' equity?
Ms. Big, the president, suggests that since the equipment can be sold for $500,000, it should be scrapped. In her words, "I learned a long time ago that when you make mistakes it's best to admit the
An increase in the number of shares of common stock outstanding will decrease a company's price-earnings ratio if the market price per share remains unchanged?
Compute unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 10.50. Use rounded amounts for future calculations. Round other answers to 0 decimal places
What is the difference between cost accounting and a cost accounting system? Explain the difference. What is an important feature of a cost accounting system?
Ortiz Company's sales budget projects unit sales of part 198Z of 10,100 units in January, 12,300 units in February, and 13,300 units in March. Each unit of part 198Z requires 3 pounds of materials.
Suppose that a mining operation has spent $8 million developing an ore deposit in South America. Current expectations are that the deposit will require 2 years of development and will result in a re
Assume the following comments were recently overheard at an international management accounting conference. For each group of comments below, state whether or not you agree with each set of comment
A firm that purchases electric power from the local utility is considering the alternative of generating its own electricity. The current cost of obtaining the firm's electricity from its local util
Shepler Boot Company makes specialty boots for the rodeo circuit. On December 31, 2010, the company had (a) 500 pairs of boots in finished goods inventory and (b) 1,500 heels at a cost of $5 each in
Y company offers its customers credit of 2/10,n 30. Most customers take advantage of the cash discount, mailing their payment to arrive on the 10th day following the date of the invoice.
You are the Chief Financial Officer (CFO) for a Milley Ltd, a book publisher located inBrisbane. The company's office and warehouse suffered damage during the recent floodsand storms in Brisbane.
Kirby Airlines is a small airline that occasionally carries overload shipment for the overnight delivery company Never-Fail Inc. Never Fail is a multimillion dollar company started by Jack Never imm
Describe the qualitative factors that Ellis Quilting Company should consider before accepting a special order to sell blankets to Kent Motels.
The steps in the accounting cycle for a merchandising company are different from the accounting cycle for a service company. Discuss whether or not you agree or disagree.