On January 2, 2018, the first year of operations, Brunswick Corp., issued 15,000 shares of $10 par value common stock for $15 per share. On July 1, 2018, Brunswick Corp., 2,000 of these shares were reacquired for $20 each. On September 1, 2018 Brunswick Corp. reissued 700 shares of its treasury stock for $22 per share. […]
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities: On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values: What […]
Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of: The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will […]
Salisbury Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2019: Using the LIFO method, determine the dollar value for Ending Inventory at the end of month of May. ATTACHMENT PREVIEW Download attachment 2019-10-09 (3).png Date Activity Quantity Unit Price 5/1 Beginning Inventory 175 $11.00 5/5 […]
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