ACCOUNTING Problem 1 The outstanding capital stock ofACCOUNTING Problem 1 The outstanding capital stock of Manners Corporation consisted of 4,000 shares of 10 percent preferred stock, $200 par value, and 40,000 shares of no-par common stock with a state… read more
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Question 3 Which of the following is not an owners equityQuestion 3 Which of the following is not an owner's equity account? a. Common stock. b. Capital stock. c. Retained earnings. d. Accumulated depreciation. e. Paid-in-capital in excess of par. Question … read more
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For Business Tutor-Question 2 (Equity Transactions andFor Business Tutor-Question 2 (Equity Transactions and Statement Preparation) On January 5, 2010, Phelps Corporation received a charter granting the right to issue 5,000 shares of $100 par value, 8% c… read more
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On October 31, the stockholders equity section of Beta CompanyOn October 31, the stockholders' equity section of Beta Company consists of common stock $600,000 and retained earnings $800,000. Beta is considering the following two courses of action: (1) declaring… read more
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(1) The LMI Companys stockholders equity section of the balance(1) The LMI Company's stockholders' equity section of the balance sheet as of December 31, 2008 follows: Preferred stock, 12%, $60 par, (25,000 shares authorized, 5,000 shares issued and outstanding) … read more
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3. The December 31, 2009, balance sheet of the Kramer Company3. The December 31, 2009, balance sheet of the Kramer Company had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2010, the following transac… read more
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Alexa Corporation recently organized. The company issued commonAlexa Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $53,000. In addition, Alexa received cash for both 5,000 shares of … read more
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" For Business Tutor, I need this question and one other one" For Business Tutor, I need this question and one other one ASAP, the next one I will give you 48 hours.. Thanks Chapter 8 Problems Problem 8-18 Recording and reporting stock transactions and cash di… read more
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Issuing stock and preparing the stockholders equity sectionIssuing stock and preparing the stockholders' equity section of the balance sheet Lincoln-Priest, Inc., was organized in 2011. At December 31, 2011, the Lincoln-Priest balance sheet reported the follo… read more
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Journalizing dividend and treasury stock transactions, andJournalizing dividend and treasury stock transactions, and preparing stockholders' equity: The balance sheet of Lennox Health Foods, at December 31, 2011, reported 120,000 shares of no-par common stoc… read more
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Arnold Corporation has been authorized to issue 40,000 sharesArnold Corporation has been authorized to issue 40,000 shares of $100 par value, 8%, noncumulative preferred stock and 2,000,000 shares of no-par common stock. The corporation assigned a $5 stated val… read more
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DANFIELD, INC. Comparative Income Statement Years Ended DecemberDANFIELD, INC. Comparative Income Statement Years Ended December 31, 2012 and 2011 2012 2011 Net Sales $467,000 $428,000 Cost of goods sold 237,000 218,000 Gross profit $230,000 $210,000 Operating exp… read more
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Part 2 only DANFIELD, INC. Comparative Income Statement YearsPart 2 only: DANFIELD, INC. Comparative Income Statement Years Ended December 31, 2012 and 2011 2012 2011 Net Sales $467,000 $428,000 Cost of goods sold 237,000 218,000 Gross profit $230,000 $210,000 … read more
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For Business Tutor- 48 hour Deadline Part 2 P12-30A IssuingFor Business Tutor- 48 hour Deadline: Part 2 P12-30A Issuing stock and preparing the stockholders' equity section of the balance sheet. Lincoln-Priest, Inc., was organized in 2011. At December 31, 201… read more
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For Business Tutor 48 hour deadline Part 1 P13-25A JournalizingFor Business Tutor: 48 hour deadline Part 1 P13-25A Journalizing dividend and treasury stock transactions, and preparing stockholders' equity The balance sheet of Lennox Health Foods, at December 31, … read more
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