If the corporation is considered as de facto, who can question its existence?   Board of Directors Stockholders Solicitor General Corporators

Q: Paula, chis Dave, unrelated individuals own 30 shares, 30 shares, and 40 shares respectively in Blue…

A: Introduction: Shares are usually classified into two types: equity and preference shares. Holders of…

Q: Perfect Stampers makes and sells aftermarket hubcaps. The variable cost for each hubcap is $4.75,…

A: Contribution margin per unit  = Selling price per unit  - Variable Cost per unit

Q: D4

A: Most of the company pays dividends at fixed rate of its earnings each year. this fixed rate of…

Q: Data concerning Sotero Corporation's single product appear below:…

A: Following data are given for the required solution:  Contribution margin per unit = $84 Increase in…

Q: The following form part of shareholder’s equity, except Group of answer choices a. Treasury shares…

A: Treasury shares are sharea reacquired by company.  These shares are to be measured at cost

Q: hat is the proper treatment for noncash asset received from a stockholder? Group of answer choices…

A: Solution: When non cash asset received from a stockholders, its fair value should be debited to non…

Q: MDS, Inc. owns 100% of PH Co. On January 5 of the current year, MDS sold machinery to PH at a gain.…

A: MDs owns 100% shares of PH, so gain on sale of machinery should be excluded in the consolidated…

Q: Thank you, how did you get the Adjusted Production Volume Variance?

A: Production Volume Variance = It helps the businesses to assess their performance and how much they…

Q: Using the following accounts and balances, prepare the stockholders' equity section of the balance…

A: Stockholders' equity includes preferred stock common stock and paid-up capital in excess of par. It…

Q: CJ decided to withdraw from his partnership with TF and LX. Before balance was P406,000, while TF's…

A: Partnership means the form of business where two or more person joins together to run the business…

Q: Required information Exercise 14-8 (Algo) Payback Period and Simple Rate of Return [LO14-1, LO14-6]…

A: Payback period is the time taken to cover the cost of the investment (to reach its break-even point)…

Q: Effect of Financing on Earnings per Share Henriksen Co., which produces and sells biking equipment,…

A: The earnings per share on common stock is calculated as net income available to common stockholders…

Q: What Is the investment carrying value at December 31. 2020? a. P6,162,000 b. P5,970,000 c.…

A: On October 1, 2019, Michael Company purchased 30,000 shares of Jackson Company at P180 per share. At…

Q: Gang company issued 1,000,000 shares of common stock. Of these 150,000 shares were held as treasury…

A: No. of shares issued means shares issued by the company including the shares purchased by the…

Q: SG Company is bankrupt and has undergone corporate liquidation. Presented below is its statement of…

A:

Q: What’s the difference between accounts payable and receivable?

A: If you use the accrual accounting system, you will have to deal with accounts receivable and…

Q: In connection with your audit of the financial statements of the Pin Shop Company for the year 2020,…

A: Ordinary shares refers to those shares which are available on the public exchange for the sale. It…

Q: 2021, a company issued 6% bonds with a maturity value of P40,000, together with 1,000 shares of its…

A: Share premium is amount which is paid in excess of par value of ordinary shares. It is given that…

Q: company’s inventory expressed as a percentage of current assets increased from 25% last November to…

A: Lets understand the basics. Inventory is a vital part of the company's balance sheet. It shows how…

Q: G is a capitalist partner. He was able to contribute P500,000.00 for the benefit of the partnership.…

A: Partnership is an agreement between two or more persons who carries their business operations…

Q: Marigold Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2021, the…

A: Income Statement- An income statement is one of the three major fiscal statements used for dealing a…

Q: How would non-financial performance indicators help to improve the performance of the company?…

A: Introduction: In its most basic form, non-financial performance metrics give information on a…

Q: Activity IV. Journal Entry Jerome Garcia started a new business and completed these transactions…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Provide three examples of pricing decisions other than the special order.       Question content…

A: Pricing decisions are the choices business makes when deciding the price for the product or the…

Q: Tiktok company had 100,000 shares of common stock outstanding in January 2003. The company…

A: No. of shares outstanding means shares issued by the company and currently are with the…

Q: What shall be the proper treatment of donated shares from stockholders? Group of answer choices a.…

A: when shares are donated from shareholders they received the shares and shareholders is right to…

Q: 1.  A Company was incorporated on January 1, 2003, with the following authorized capitalization:…

A: Authorized share capital means the amount which the company can legally issued. Total contributed…

Q: January 1, 2019,

A: ET Mags Inc. should record the lease payments in the leasee's accounts. The current lease is a…

Q: A. While examining the December 31, 2020 financial statements of Don Co., you discover the fol-…

A: 1) overstated opening inventory reduce net income, so we need to aad it back.  2) understated…

Q: 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column…

A: We are given the unadjusted trial balance of Lakota Freight Co as at 31st March, 20Y4 for which a…

Q: Donahue Oil has an account titled Oil and Gas Properties. Donahue paid $6,700,000 for oil reserves…

A: Depletion expense is the reduction in the value of asset due to its use. Depletion is a…

Q: A capitalist partner is not allowed to enter into a new partnership if it is a competing business.…

A: Diligence – The obligation of the partner is to act diligently in her decisions on behalf of the…

Q: ember 31. The bonds are convertible into 40,000 of the company’s ordinary shares with par value of…

A: Given as, The total number of 1000 bonds are convertible in 40000 in shares of $100 each.

Q: Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it…

A: Lets understand the basics. Cashflow statement is divided into three parts which are, (1) Cashflow…

Q: XYZ Corporation is considering a new product line. The company currently manufactures several lines…

A: Incremental cash flow is the additional operating cash flow that the company will incur or receive…

Q: In the absence of evidence to the contrary, all the retained earnings of an entity can be declared…

A: Treasury Stocks  These are the issued shares that have been reacquired by the company. Treasury…

Q: If the corporation intends to shorten its life, what is the remedy of the corporators?   Amend the…

A: Corporation means a large company or groups of companies authorized to act as a single entity. Every…

Q: lease include everything used, this is a review from a class I took over a year ago and I don't…

A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: The following information has been extracted from the financial statements of ChopChop Pty. Ltd., a…

A: Current ratio is one of the liquidity ratio of the business which shows ratio between current assets…

Q: When translating the financial statements of an entity from its functional currency to its selected…

A: Translation from the functional currency to the presentation currency (IAS 21) The results and…

Q: 24. What shall be the proper treatment of donated shares from stockholders? Group of answer choices…

A: DONATED SHARES REFERS TO THOSE SHARES GIVEN BACK TO A CORPORATION BY A SHAREHOLDER WITHOUT…

Q: How much is the income tax applicable on the transactions?

A: taxable AMOUNT = 15,000,000

Q: * 0O T # 3 la Uni X L Grades for Cristian Catala: 22s X WP Ch7quiz with TF5 WP NWP Assessment Player…

A: Activity-based costing (ABC) is a method of assigning overhead based on activities, which are…

Q: 4. Compute the break-even sales (units) under the proposed program for the following year. X units…

A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…

Q: 36. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year…

A: Here discuss about the details of donated share capital which are received from the shareholders in…

Q: lerina is a restaurant owner in Burwood, VIC. The business prepaid the insurance premium a year in…

A: Prepaid insurance premium is the amount of insurance premium paid in advance.

Q: Louise Lewis, age 72, is married and supports her mother, age 96. During 2021. Louise pays $1,300…

A: Since their AGI is $100000, then medical expenses over 7.5% of AGI is only deductible. In this case,…

Q: It says that step a is wrong. That those are not the right ROI's. Is there another way to solve that…

A: Introduction:- Return on investment indicates how well an investment performed in comparison to the…

Q: Louise Lewis, age 72, is married and supports her mother, age 96. During 2021. Louise pays $1,300…

A: Medical expenses are deductible over 7.5% of Adjusted gross income. Adjusted Gross income = $100000…

Q: USE THE NUMBERS 1-10 TO PLACE THE FOLLOWING STEPS OF THE ACCOUNTING CYCLE IN THEIR PROPER ORDER, 1…

A: Accounting cycle includes the step by step procedure of recording and finalizing the business…