module 9 discussion

Rocky Point Brewery (RPB) plans to file an initial public offering (IPO) in December 20X4. The IPO filing will include calendar year-end financial statements for 20X1, 20X2, and 20X3. Olsen & Alain, CPAs (O&A) has performed calendar year end audits of RPB since 20X0 and also helped RPB prepare monthly financial statements in accordance with AICPA independence rules. O&A terminated the accounting services in December 20X2. Which statement best describes why O&A may continue to perform RPB's audit when it files its IPO under SEC independence rules? a. O&A's fee for auditing the combined company will be less than 5% of its revenues.b O&A performed only permissible accounting services during the period covered by the financial statements. c. O&A will pay for an independent firm to reperform the accounting services for all periods in the filing. d. O&A will be independent under SEC independence rules for the most recent year included in the IPO filing.

Solve these general accounting issue and give correct answer

Please give the answer of the T-chart, I need in T-chart form like the picture shows

It is January 2nd and senior management of Digby meets to determine their investment plan for the year. They decide to fully fund a plant and equipment purchase by issuing 75,000 shares of stock plus a new bond issue. Assume the stock can be issued at yesterday's stock price ($41.66) and leverage changes to 2.7. Which of the following statements are true? Select all that apply. Select : 3 The total investment for Digby will be $24,031,182 Total liabilities will be $148,850,148 Digby will issue stock totaling $3,124,500 Total assets will rise to $234,396,164 Working capital will remain the same at $15,329,153 Save Answer

Can you answer these general accounting question?

Assume that Echoing Green, featured in this chapter’s opener, makes an investment in Sustain Inc., a sustainability consulting firm. The company purchases 200 shares of Sustain stock for $15,000 cash plus a broker’s fee of $500 cash. Sustain has 500 shares of common stock outstanding, and Echoing Green will be able to significantly influence its policies. Required 1. Prepare the journal entry to record the investment in Sustain on January 1. 2. Sustain declares and pays a dividend of $1,000. Prepare the journal entry to record Echoing Green’s receipt of its share of the dividend on July 1. 3. Sustain reports net income of $5,000. Prepare the journal entry to record Echoing Green’s share of those earnings on December 31.

Question 1:The stockholders’ meeting for Strauder Corporation has been in progress for some time. The chief financial officer forStrauder is presently reviewing the company’s financial statements and is explaining the items that comprise thestockholders’ equity section of the balance sheet for the current year. stockholders’ equity section of StrauderThe corporation on December 31, 2010, is as follows. STRAUDER CORPORATIONBalance Sheet (partial)December 31, 2010 Paid-in capitalCapital stockPreferred stock, authorized 1,000,000 sharescumulative, $100 par value, $8 per share, 6,000shares issued and outstanding                         600,000Common stock, authorized 5,000,000 shares, $1 parvalue, 3,000,000 shares issued, and 2,700,000outstanding                                                    3,000,000Total capital stock                                           3,600,000Additional paid-in capitalIn excess of par value—preferred stock  50,000In excess of par value—common stock…

Entries for selected corporate transactionsMorrow Enterprises Inc. manufactures bathroom fixtures. The stockholders'equity accounts of Morrow Enterprises Inc., with balances on January 1,20Y5, are as follows:   The following selected transactions occurred during the year:   Instructions 1. Enter the January 1 balances in T accounts for the stockholders'equity accounts listed. Also prepare T accounts for the following: Paidin Capital from Sale of Treasury Stock: Stock Dividends Distributable;Stock Dividends; Cash Dividends. 2. Journalize the entries to record the totions and post to the eightselected accounts.S. Prepare a retained earnings statement for the year ended December1, 20Y5.4. Prepare the Stockholders' Equity section of the December $1, 20Y5,balance sheet using Method 1 of Exhibit 8.

Assume that a start-up manufacturing company raises capital through a series of equity issues. a. Using the financial statement, summarize the financial statement effects of the following transactions. Identify the account affected and use plus and minus signs to indicate the increases and decreases in the specific element of the balance sheet (assets, liabilities, components of shareholders’ equity). (1) Issues 100,000 shares of $1 par value common stock for $10 per share. (2) Receives land in exchange for 10,000 shares of $1 par common stock when the common stock is trading in the market at $15 per share. The land has no readily determinable market value b. In each case, how does the company measure the transaction? What measurement attribute is used?

please answer this question by preparing the general journal entry to record the above transaction is need this answer for my assignment I am a new accounting student so I need the general journal entry all

The attached file contains hypothetical data for working this problem. Goodman Corporation’s and Landry Incorporated’s stock prices and dividends, along with the Market Index, are shown in the file. Stock prices are reported for December 31 of each year, and dividends reflect those paid during the year. The market data are adjusted to include dividends. On a stand-alone basis which corporation is the least risky?

Please explain.

Attached is the company details and journal that was created. Using this information,  now prepare the: Stockholders equity section of the balance sheet at December 31, 2021. The following information must be clearly stated/shown: information on par values, the number of shares authorized and issued where necessary. the sub total for the total paid in capital. Retained earnings. total stockholders’ equity.

Listed here are data for five companies. These data are for the companies' 2019 fiscal years. The market price per share is the closing price of the companies' stock the day after they announced their 2019 earnings. Except for market price per share, all amounts are in millions. The shares outstanding number is the weighted-average number of shares the company used to compute basic earnings per share. Note that the numbers for Mountainview Investments are significantly different that the other companies. For example, the number for its shares outstanding includes a decimal, not a comma. Its shares outstanding are about are 1.6 million, not 1.6 billion. Company Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated Ringer Corporation Net Earnings $12,495 82,355 15,280 8,255 6,088 Company Stockholders' Shares Market Price Equity Outstanding per Share $62,998 1,415 $2,006.00 429,386 1.652 Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated Ringer Corporation 199,674…

Prepare journal entries to record the following investment-related transactions of a company for its first year of operations: On May 4, the company purchased 600 shares of Orbital Company Stock at $140 per share as a short-term investment in an available-for-sale security. On July 1, received a $2.50 per share cash dividend on the Orbital Company stock purchased in transaction (a). On September 15, sold 250 shares of Orbital Company stock purchased in transaction (a) for $85 per share On October 15, sold 100 shares of Orbital Company stock purchased in transaction (a) for $185 per share

s Listed here are data for five companies. These data are for the companies' 2019 fiscal years. The market price per share is the closing price of the companies' stock the day after they announced their 2019 earnings. Except for market price per share, all amounts are in millions. The shares outstanding number is the weighted-average number of shares the company used to compute basic earnings per share. Note that the numbers for Mountainview Investments are significantly different that the other companies. For example, the number for its shares outstanding includes a decimal, not a comma. Its shares outstanding are about are 1.6 million, not 1.6 billion. Company Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated. Ringer Corporation Company Nile.com Mountainview Investments Big Oil Soda Fizz Incorporated Ringer Corporation $ Net Earnings $12,030 82,017 14,829 7,926 5,781 EPS Required a. Compute the earnings per share (EPS) for each company. b. Compute the P/E ratio for…

It is January 2nd. Senior management of Digby meets to determine their investment plan for the year. They decide to fully fund a plant and equipment purchase by issuing 50,000 shares of stock plus a new bond issue. The CFO happily notes this will raise their Leverage (-assets/equity) to a new target of 2.7. Assume the stock can be issued at yesterday's stock price ($37.86). Which of the following statements are true? Check all that apply. Select: 3 Digby will issue stock totaling $1,893,000 Total investment for Digby will be $5,111,100 The Digby bond issue will be $3,218,100 4 The Digby Working Capital will be unchanged at $16,095 Total Assets will rise to $226,004,000 Long term debt will increase from $83,016,908 to $84,909,908 Save Answer

It is January 2nd and senior management of Digby meets to determine their investment plan for the year. They decide to fully fund a plant and equipment purchase by issuing 75,000 shares of stock plus a new bond issue. Assume the stock can be issued at yesterday's stock price ($33.55) and leverage changes to 2.8. Which of the following statements are true? Select all that apply. Select: 3 - Total liabilities will be $123,713,264 -The total investment for Digby will be $206,542,591 - Total Assets will rise to $217,831,113 - Working capital will remain the same at $10,349,434 - Equity will be $80,313,076 - Digby will issue stock totaling $2,516,250

Company Autumn was incorporated on 1 April 2023, with a cash capital contribution of $50,000,000. Company markets a single product. Following events also occurred during April: - Stock totalling $1,500,000 + VAT was purchased on credit from suppliers. - Stock costing $1,300,000 was sold in cash for $2,000,000 + VAT. - A quarter of the month's sales were returned by customers in perfect condition and the company reimbursed them. It issued the corresponding credit notes. Assume that the cost of the returned goods is one quarter of the cost of the goods sold. - The company provides a warranty to its customers for one year. The company makes a provision for warranty at the end of April of 5 per cent of the net income from returns. - The company had salary expenses of $70,000 and overhead expenses of $9,000 + VAT. Assume that all were paid in cash during April. - The company makes the necessary journal entries on 30 April to recognize PPM (called monthly provisional payments) and the…

The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 400 shares of the company’s own common stock at $20 cash per share; the stock is now held in treasury. July 15 Issued 100 of the shares purchased on February 1 for $30 cash per share. Sept. 1 Issued 60 more of the shares purchased on February 1 for $15 cash per share. Required: Show the effects of each transaction on the accounting equation. Give the indicated journal entries for each of the transactions. What impact does the purchase of treasury stock have on dividends paid? What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income?

Please correct answer and don't used hand raiting

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Please create the statement of owners equity and Journal.If you can not do both .Do statement of owners equity please 4.The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information. Prepare the journal entries with narrations to record the following: • The issuances of stock. • Close out net income to retained earnings. • Dividend declared. • Close out dividend to retained earnings   a. Issued…

PLEASE DO NOT GIVE SOLUTION IN IMAGE FORMAT

The following selected transactions occurred for Corner Corporation:Feb. 1 Purchased 400 shares of the company’s own common stock at $20 cash per share;the stock is now held in treasury.July 15 Issued 100 of the shares purchased on February 1 for $30 cash per share.Sept. 1 Issued 60 more of the shares purchased on February 1 for $15 cash per share.Required:1. Show the effects of each transaction on the accounting equation.2. Give the indicated journal entries for each of the transactions.3. What impact does the purchase of treasury stock have on dividends paid?4. What impact does the reissuance of treasury stock for an amount higher than the purchaseprice have on net income?