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The cash proceeds from issuing par value stock may be equal to or greater than, but not
less than par value.
Answer:
S. Lamar performed legal services for E. Garr. Due to a cash shortage, an agreement
was reached whereby E. Garr. would pay S. Lamar a legal fee of approximately
$12,000 by issuing 3,000 shares of its common stock (par $1). The stock trades on a
daily basis and the market price of the stock on the day the debt was settled is $4.50 per
share. Given this information, the journal entry for E. Garr. to record this transaction is:
Answer:
Discontinued operations refers to the disposal of a ______________ of a business.
Answer:
Four thousand bonds with a face value of $1,000 each, are sold at 105. The entry to
record the issuance is
Answer:
The following information relates to Bonnie Billy Co. for the year 2015.
Instructions
After analyzing the data, prepare an income statement and a retained earnings statement
for the year ending December 31, 2015
Answer:
A worksheet is a mandatory form that must be prepared along with an income statement
and balance sheet.
Answer:
