The following information was drawn from the year-end balance sheets of Munoz River, Inc.: Account Title 2017 2016 Bonds payable $ 785,000 $ 980,000 Common stock 201,000 126,000 Treasury stock 26,500 6,500 Retained earnings 86,400 59,900 Additional information regarding transactions occurring during 2017: Munoz River, Inc., issued $48,300 of bonds during 2017. The bonds were issued at face value. All...
The equity sections for Hovo Corp. at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$20 par value, 30,000 shares authorized, 17.000 shares issued and outstanding.. Pald-in capital in excess of par value, common stock Retained earnings...... Total stockholders' equity $340,000 60,000 270,000 $670,000 Stockholders' Equity (December 31)...
AKS’ stock price has been gradually declining in the last 6 months. It is down 5% from the prior year. In order to boost its stock price, AKS announced in January 2023 that it would issue a 10% stock dividend in May 2023. what happens to the fair value?
The following are selected accounts for the Alpha Dog Company after all Fiscal Year December 31, 2016, adjusting entries & closing entries have been posted. All balances are normal. Account Amount Common Stock, $5 par $150,000 Treasury Stock, at cost $10 per share 20,000 Dividends Payable 5,000 Paid in Capital in excess of par, Common Stock 30,000 Paid in Capital...
Inventory 30 POINTS Compute the inventory methods for TV Vison. Suppose TV Vison started March with an inventory of 50 plasma TVs that cost $2,010 each, for a total beginning inventory value of $100,500. During March, the firm made the following purchases: March 2 200 TVs for $2,000 each March 10 150 TVs for $1,800 each March 20 100 TVs...
ALL QUESTIONS MUST BE ANSWERED Inventory 30 POINTS Compute the inventory methods for TV Vison. Suppose TV Vison started March with an inventory of 50 plasma TVs that cost $2,010 each, for a total beginning inventory value of $100,500. During March, the firm made the following purchases: March 2 200 TVs for $2,000 each March 10 150 TVs for $1,800...
Part 3 of 3 Lynbrook Inc. sells a variety of merchandise to retail stores on account, but it insists that any customer who fails to pay an invoice when due must replace it with an interest-bearing note. The company makes annual adjustments on December 31. On October 1, 2020 Lynbrook converted an Accounts Receivable balance from Scan House in the...
20. The current interest rate on the 1-year T-Bill is 4% (APR). The market expects that the Fed will raise the rate next year thus the expected 1-year T-Bill rate is 8% (APR). According to the expectation hypothesis, the current 2-year T-note should offer an interest rate of (APR). 1) 4% 2) 5% 3) 6% 4) 7% 5) 8% 21....
Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information applies to the questions displayed below.) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,500 8,500 2,500 16,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained...
Please answer with a full journal entry.
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 25,500 16,300 13,800 157,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 7,600 6,700 152,000 46,300 $212,600 $212,600 The following is a summary of the transactions...