Entries by mary WAMBUGU

On August 1,2018, Alpha Corp. declared 5% share dividends on its common stock when the market value for the common stock was $15 per share.

August 31, 2019 in /by

On August 1,2018, Alpha Corp. declared 5% share dividends on its common stock when the market value for the common stock was $15 per share. Shareholders’ equity before the stock dividend was declared consisted of $1,000,000 for common stock ($10 par value, authorized 200,000 shares; issued and outstanding 100,000), $150,000 for the paid-in-capital in excess […]

 

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Alpha Company purchased a machine on January 1, 2017 for $60,000. The machine was estimated to have a service life of 10 years with an estimated residual value of $5,000.

August 31, 2019 in /by

Alpha Company purchased a machine on January 1, 2017 for $60,000. The machine was estimated to have a service life of 10 years with an estimated residual value of $5,000. Alpha sold the machine on January 1,2021 for $10,000. A,pha uses the double declining method for depreciation. Using this information, how much is: (Enter whole […]

 

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Alpha Company prepares quarterly adjusting entries and has a fiscal year end of December 31. Oct 1: Accepted from Bravo a $9,000, four month 9% note in lieu of an existing $9,000 account receivable

August 31, 2019 in /by

Question Alpha Company prepares quarterly adjusting entries and has a fiscal year end of December 31. Oct 1: Accepted from Bravo a $9,000, four month 9% note in lieu of an existing $9,000 account receivable Nov1: purchased from Zulu company, equipment for $42,000 and signed a note payable due in nine months for $43,035. Use […]

 

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Why is it necessary to prepare formal financial statements if all of the data are in the statement columns of the worksheet?

August 31, 2019 in /by

Why is it necessary to prepare formal financial statements if all of the data are in the statement columns of the worksheet?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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