• Joan Holtz Case 5-3
    is made. 3. Cruise None of the $260,000 was revenue to Raymond’s in 2006 since the service would not be rendered until January 23, 2007.  Journal entries should be made in 2006 when Raymond’s sold all available space on the ship for $260,000: Cash(+A)                         $260,000 Unearned...
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  • Shareholder's Equity
              28 Reclassification adjustment for realized gains on derivatives                   (5 )           (5 ) Repurchases of common stock                       (34 )   (1,026 )   (1,026 ) Reissuance of treasury stock           (147 )   ...
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  • Using Treasury Shares to Stabilize Stock Market
    one of the most important issues of share repurchases known as treasury shares. This paper investigated that why companies repurchase shares, what are some of the benefits and pitfalls of repurchases, research literatures and stock trading volume for repurchase activities corporate laws, stock exchange...
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  • Cfa1 Financial Review
    treasury stock minority interest accumulated other comprehensive income = delta equity – net income- transaction with shareholders(issing stock, repurchase stock,dividends)(?) *contributed capital(capital reserve 资本公积 surplus reserve 盈余公积) retained earnings Income Statement Revenue -COGS(variable...
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  • Debt vs. Equity and Asymmetric Information: a Review
    DEBT vs. EQUITY AND ASYMMETRIC INFORMATION: A REVIEW Linda Schmid Klein, University of Connecticut Thomas J. O’Brien*, University of Connecticut Stephen R. Peters, University of Cincinnati March 2002; Forthcoming, The Financial Review *Corresponding author: Department of Finance, University...
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  • CF Written Coursework Assignment
    Firms and individuals can borrow and lend at the risk-free rate. iii. There are no costs to bankruptcy iv. Firms issue two types of claims: risk-free debt and risky equity. v. All firms are assumed to be in the same risk class. vi. Corporate and personal taxes are zero. vii. All cash flow streams are...
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  • Salomon vs Salomon
    190,000 |Accounts payable | 68,000 | |Fixtures | 28,000 |Prov. doubtful debts | 1,000 | |Office equipment | 53,500 |Acc. depn: fixtures | 1,800 ...
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  • Fasb Codification Assignment 1 – Receivables
    in the same manner as would another unrelated entity that writes an identical put option on assets it never owned. However, certain agreements to repurchase or redeem transferred assets maintain effective control over those assets and should therefore be accounted for differently than agreements to acquire...
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  • Final Exam
    method: Estimated uncollectible accounts = $15,000. Allowance for Doubtful Accounts = $3,000 What is the amount of bad debts expense? $12,000 Explanation: This entry simply requires you to subtract 3,000 from the 15,000 in estimated uncollectable accounts. 3. What is true about intangible...
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  • Accounting
    Transactions that affect equity Equity Beginning Balance + Net earnings + or – Accumulated other comprehensive income - Dividends + Issuance of shares - Repurchase of shares Equity Ending Balance 11-3 3 Corporation Characteristics A Corporation is a separate legal entity. It can: •Own assets •Sue and...
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  • Far 2008 Final
    1: Birdie Corporation has the following transactions during 2008. There were no shares in treasury at the beginning of the year. Prepare the journal entries. (2 points each) 1. Birdie Corporation issued 500,000 shares of $5 par common stock on January 18, 2008. The shares are sold for $42 each...
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  • General Host; Accounting for a Bond Refunding
    Principle $20.3 million, Interest $2.233 million, N 14, Rate 11% => $20,300,000 Present value of bonds: $20.3 million 5. Prepare the journal entry to record the exchange. Bonds payable (old) $33.9 million Bonds payable (new) $20.3 million Gain on early extinguishment $13.6 million ...
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  • Assignment 1
    000 face amount of the bonds in the market and retired them on September 1, 2011. Required: a) What entry would Quito Corporation make to record issuance of the bonds on July 1, 2009? b) What entry would Quito Corporation make to record payment of the first interest payment on December 31, 2009? c)...
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  • Accounts Revison
    Accounting Revision Preparing the Financial Statements Ultimately, the journals, ledgers and adjusting entries exist purely so companies can create accurate financial statements, both to show shareholders how their investment is performing, and to allow the tax authorities to deduct the correct...
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  • Accounting Notes
    Prepare In S. & BS Income State = Rev – Exp= Net in BS= assets = liab & SE, State of RE = Beg RE + Net in – Div = end RE Ch2- Debit, Credit, Journal Entries Hist cost: activities of a co are measured at their cost. Rev Rec: rev is recorded when earned and cash is assured. Match P: Exp recorded same...
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  • Acct review 2300
    Liabilities d. Current Ratio = Current Assets / Current Liabilities 3. Chapter 3 a. Accounting Equation – ASSETS = LIABILITIES + OWNER’S EQUITY b. JOURNAL ENTRIES and ACCOUNT BALANCES 4. Chapter 4 a. Definition of Recognition and Measurement b. Cash v. Accrual b.i. Cash Revenue is recognized when...
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  • Intermediate Accounting 14th Chp7
    Exercises Concepts for Analysis Exercises Problems 1, 2, 3, 4, 21, 1 22, 23, 24 1, 2 1 Accounting for accounts receivable, bad debts, other allowances. 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 20, 22, 23, 24 2, 3, 4, 5 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 14 2, 3...
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  • Analyzing Financial Ratios
    information. If so, then you will need to make the appropriate journal entries (including any tax effects). To accomplish the second goal, each assignment will require to you create or adjust Terry’s financial statements based on your adjusting entries. In most cases, you will then have the opportunity to...
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  • Ch 13
    nonfinancial) 2. Compensation expense in the period earned D. Noncurrent vs. Current Classification: a. Current Maturities of Long-Term Debt b. Long-Term Liabilities Due on Demand c. Short-Term Obligations Expected to be Refinanced: Can be classified as long term/ non-current...
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  • Casebook 2008
    In 2006? Prepare the journal entry to record Abbott Laboratories’ share of TAP’s 2007 earnings. What amount did Abbott include on its 2007 and 2006 balance sheets for the TAP joint venture? Where does this appear on Abbott Laboratories’ balance sheet? Prepare the journal entry to record the dividends...
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