A corporation has outstanding 20,000 shares of 10 percent, $50 par-value, cumulative, nonparticipating preferred stock and 80,000 shares of $10 par-value common stock. The board of directors voted to distribute $80,000 as dividends in 2010, $110,000 in 2011, and 130,000 in 2012. Compute the...

On August 1, Clayton Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions for the current year: (a) Issuance of the bonds. (b) Accrual of interest and...

Calamari Associates bought land for $1,200,000 in 1982. In 2007, the land was appraised at $1,795,000. The land would appear on the company's books in 2007 at? a) $595,000 b) $1,200,000 c) $1,795,000 d) $2,995,000 ** My answer was D. I'm not sure if this is correct. I added $1,200,000...

Hi! I'm a homeschooler and I'm stuck at the LIFO, FIFO, & average method in my accounting. I have the answeres but I don't know how to get them. I need someone to explane in great detail!!!:) Here is the problem: Cox Retail Store has gathered the following info. About a particular item that...

Which of the following statement about long-term assets and disclosures is true? a. A business must disclose every depreciacle asset it owns in the financil statement. b.Disclosure of PP&E asset by major categories provides decision makers with insight on a company's cash flow expenditures. c....