Showing 741 to 750 of 1656 Questions
  • Noric Cruises Inc. reported the following results for the year ended October 31, 2014:Retained earnings, November 1, 2013… $12,400,000Net income …………………………….. 2,350,000Cash dividends declared ………………. 175,000Stock dividends declared ……………… 300,000Prepare a retained earnings s

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  • Notes payable-interest accrual and payment. Proco had an account payable of $84,000 due to Shirmoo, Inc., one of its suppliers. The amount was due to be paid on January 31. Proco did not have enough cash on hand then to pay the amount due, so Proco's treasurer called Shirmoo's treasurer and agreed to sign a note payable for the amount due

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  • Nuncio Consulting completed the following transactions during June.a. Armand Nuncio, the owner, invested $35,000 cash along with office equipment valued at $11,000 in the new company.b. The company purchased land valued at $7,500 and a building valued at $40,000. The purchase is paid with $15,000 cash and a long-term note payable for $32,

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  • Oakland Floor Coverings reported the following summarized data at December 31, 2014. Accounts appear in no particular order, and all have normal balances.Prepare the trial balance of Oakland Floor Coverings at December 31,2014.

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  • Oakland Floor Coverings, Inc., reported the following summarized data at December 31, 2012. Accounts appear in no particular order.Requirement1. Prepare the trial balance of Oakland Floor Coverings at December 31,2012.

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    140
  • Of two corporations organized at approximately the same time and engaged in competing businesses, one issued $150 par common stock, and the other issued $1.00 par common stock. Do the par designations provide any indication as to which stock is preferable as an investment? Explain.

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  • Of two corporations organized at approximately the same time and engaged in competing businesses, one issued $100 par common stock, and the other issued $0.01 par common stock. Do the par designations provide any indication as to which stock is preferable as an investment? Explain.

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  • Of two corporations organized at approximately the same time and engaged in competing businesses, one issued $75 par common stock, and the other issued $1 par common stock. Do the par designations provide any indication as to which stock is preferable as an investment? Explain.

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  • OfficeMax had a net income of $667,000 for a recent year, while Staples had a net income of $738,671,000. OfficeMax had preferred stock of $36,479,000 with preferred dividends of $2,818,000. Staples had no preferred stock. The outstanding common shares for each company were as follows:Average Number ofCommon Shares OutstandingOfficeMax

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    168
  • Olde Wine Corporation has 250,000 shares of $40 par common stock outstanding. On February 15, Olde Wine Corporation declared a 2% stock dividend to be issued May 2 to stockholders of record on March 27. The market price of the stock was $52 per share on February 15.Journalize the entries required on February 15, March 27, and May 2.

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