Owners invest in corporations through the purchase of stock.Required:Describe two ways that corporations distribute assets to stockholders. Discuss their relative advantages and disadvantages.View Solution: Owners invest in corporations through the purchase of stock Req

Q: Prepare journal entries to record each of the following sales transactions of a merchandising compan...

A: The following journal entries that shall be recorded is shown below :

Q: If fixed costs are $750,000 and variable costs are 70% of sales, what is the break-even point (dolla...

A: The break-even point is that point where the total cost is equal to the total revenue of the firm, a...

Q: International accounting defines supporting and related to Select one: O a. Harmonization O b. None ...

A: Harmonization is the process where conflicting standards are brought into one umbrella and redundanc...

Q: Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started wor...

A: Under weighted average process costing, the cost of Beginning work-in-process and the cost added dur...

Q: Prepare adjusting entries on December 31 for the following transactions. Omit explanations. (Lines p...

A: Adjusting entries are prepared at the end of the accounting period in order to ensure the accrual ba...

Q: Giant Ltd acquired s0 percent share capital of Expert Ltd. On 1 July 2018 for a cost of $1,600,000. ...

A: The following computations are done for Giant Ltd to show the acquisition of Expert Limited.

Q: Jeremy and Katie are married and filing taxes jointly. Jeremy earned an income of $55,750, including...

A: Tax is financial charge or levy imposed by the government of the country to make government expendit...

Q: On January 1, 2010, Halston Enterprises issued 8%, 20-year bonds with a face amount of $5,000,000 at...

A: Interest=Face amount×Interest rate2=$5,000,000×8%2=$200,000

Q: 1. The financial year of Shah Enterprise ended on 31 December 2019. Show the ledger account for the ...

A: Ledgers are the records prepared in books of accounts showing the accounts which gets affected with ...

Q: Charles exchanged land used in his business plus 26,000 in cash for like-kind real estate. Charles h...

A: Following is the recognized gain and new tax basis will be as follows

Q: A company reports net accounts receivable of​ $100,000 on December​ 31, 2019. The Allowance for Bad ...

A: Computation of balance of Accounts Receivable on December 31,2019 is as follows: Ending allowance fo...

Q: Use this information for Kellman Company to answer the questions that follow. ​ The balance sheets a...

A: The return on stockholders equity shows that how much return the owners are getting in regarding to ...

Q: Selected accounts from the ledger of McDaniel Corporation appear below. For each account, indicate t...

A: We have the following information: Asset = A Liabilities = L Expenses = E Revenue = R None of the ...

Q: Statement of projected future cash flows is least likely be required by SECP for a company filing fo...

A: Company refers to a business entity which is established by group of people. It is an artificial per...

Q: Star Trek Nuclear Fuels, a public limited company, disclosed the following information in its financ...

A: Contingent liabilities: The liabilities which may occur on the occurrence of uncertain events in the...

Q: Nest corporation issued 5-year, 5% bonds having a par value of $100,000. The company received procee...

A: Bond: It refers to a financial instrument that reflects an acknowledgement of debt and states a fixe...

Q: I need answer of question b

A:          Calculation of Overall Rate of Return : Overall rate of return (OAR) is the rate of return...

Q: Normal annual capacity for ABC Company is 72,000 units, with fixed factory overhead budgeted at P 33...

A:  “Since you have asked multiple sub-parts, we will solve the first three sub-parts for you. If you w...

Q: There are three general views regarding interperiod income tax allocation: no allocation, partial al...

A: Interperiod tax allocation is the temporary among the effects of the tax policy on the financial rep...

Q: Evan Roberts owns a business, Shores Sports, that rents canoes and kayaks. Below is the adjusted tri...

A: Revenues refers to economic benefits that a company earns from business activities. Income earned fr...

Q: On the basis of the following data, what is the estimated cost of the merchandise inventory on May 3...

A: Cost of merchandise inventory at end = Inventory at the end as retail price * Rate of cost to retail...

Q: list advantages and disadvantages of debt and common equity

A: Debts are the borrowed funds and debenture holders are creditors of the firm. Debts are those funds ...

Q: Advantages and disadvantages of using financial statements as a tool to analyse the financial perfor...

A: Financial Statements(FS) are the statements prepared by the management of an entity to epitomize its...

Q: Which of the following journals is called an all-purpose journal? Please explain with full explanati...

A: There are two journals. One is general journal and another is special journal. 

Q: Reign Inc. produces special machines made to customer specifications. The following data pertain to ...

A: 1.Computation of gross profit of the order:

Q: 7. LIFO vs FIFO Consider the following record of inventories for NINO (Nothing-In-Nothing-Out) Retai...

A: Inventory Valuation: It is an asset held for sale in the ordinary course of business. It is used in ...

Q: Mighty Muffler, Inc. operates an automobile service facility that specializes in replacing mufflers ...

A: Fixed costs are the cost that remains intact irrespective of number of units being produced. Variabl...

Q: Explain accrued expenses in detail .

A: In the above question we have asked to explain accrued expenses which is as below.

Q: Draw up a profit and loss appropriation account for the year ending 31st December 2011 and a stateme...

A: Introduction Profit and loss appropriation account: Profit and loss appropriation account is a nomin...

Q: The maturity value of a 12%, 60-day note for $5,000 is $5,600. Please explain your answer with expla...

A: Face value of the note $5,000 Interest rate 12% Maturity period 60 days  

Q: Based on the following data for the current year, what is the number of days' sales in receivables? ...

A: Accounts receivable:  It is a current asset of an organization. It is the amount due from customers ...

Q: 2and 3

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: A company in the manufacturing sector prepares its account to 31.12 annually. In July 2019, the comp...

A: As Given In the question   Description Amount(RM) Land      580,000.00 Legal fees for an agre...

Q: Question 2 the bookkeeper had made errors in recording several transactions. The erroneous transacti...

A: Journal entry is a process of recording business transactions in the books of accounts for the first...

Q: U company is having 2 divisions the Adif division and Wolf division. The total income of the company...

A: Sum of segment margin of both division = $75,800+$52,600 = $128,400  

Q: System company needs to replenish its $1000 petty cash fund. Its petty cash box has $150 cash and pe...

A: A petty cash is a separate account, in which a fixed amount is deposited for making small expenditur...

Q: Mention the 5 key points on which you will decide about the bid in contract management?

A: Contract management is the management of deliveries, deadlines, and the conditions of the contract w...

Q: The board of directors of Yancey Company declared a cash dividend of $1.50 per share on 42,000 share...

A: Dividend distribution is a method of distributing profit among the stockholder of the organization. ...

Q: Data related to a bond issued by Roxon enterprises is given below: $800,000 Interest expense on bond...

A: Bonds: These are the financial instruments issued by a company to the general public for raising fun...