Financial & Managerial Accounting
18th Edition
ISBN: 9781259692406
Author: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
Publisher: McGraw-Hill Education
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Question
Chapter 11, Problem 14E
a.
To determine
Prepare the
b.
To determine
Explain the declaration and distribution of a 2-for1 stock split subsequent to the given transactions would affect the stockholders’ equity section.
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Bezco Excavation Consultants began the current year with 32,400 common shares outstanding. It issued additional shares of 15,900 and 20,400 on March 1 and July 1, respectively. The company also purchased 3,900 shares of treasury stock on November 1. The firm's year end is December 31. Based on this information, compute the weighted-average number of common shares
outstanding for Bezco Excavation Consultants assuming that the company implemented a 8% stock dividend on December 1. (Enter a decrease in shares outstanding with a minus sign or parentheses.)
Date
Event
Number of Shares
Outstanding
Weight by Number of Months
Shares Are Outstanding
Weighted-Average
Shares Outstanding
1/1 Balance
3/1
New Issue
7/1
New Issue
11/1
Treasury Stock Purchase
Subtotal
12/1
8% Stock Dividend
12/31
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On January 1, 2024, Nath-Langstrom Services, Incorporated, a computer software training firm, leased several computers under a two-
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rate of 4%.
The contract calls for four rent payments of $19,500 each, payable semiannually on June 30 and December 31 each year.
The computers were acquired by ComputerWorld at a cost of $109,000 and were expected to have a useful life of five years with
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Both firms record amortization and depreciation semiannually.
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Required:
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Complete this question by entering your answers in…
Payroll Register and Payroll Journal Entry
Mary Losch operates a travel agency called Mary's Luxury Travel. She has five employees, all of whom are paid on a weekly basis. The travel agency
uses a payroll register, individual employee earnings records, and a general journal.
Mary's Luxury Travel uses a weekly federal income tax withholding table. Refer to Figure 8-4 in the text. The payroll data for each employee for the
week ended March 22, 20-, are given. Employees are paid 1% times the regular rate for working over 40 hours a week.
No. of Marital
Total Hours
Name
Allowances Status Worked Mar. 16-22
Total Earnings
Rate Jan. 1-Mar. 15
Bacon, Andrea
4
M
44
$14.00
$6,300.00
Cole, Andrew
1
S
40
15.00
6,150.00
Hicks, Melvin
3
M
44
13.50
5,805.00
Leung, Cara
1
S
36
14.00
5,600.00
Melling, Melissa
2
M
40
14.50
5,945.00
Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%. Medicare tax is withheld at the rate of 1.45%, and city earnings
tax at the rate of…
Chapter 11 Solutions
Financial & Managerial Accounting
Ch. 11 - Prob. 1STQCh. 11 - Prob. 2STQCh. 11 - 3. Which of the following is not a characteristic...Ch. 11 - 4. Tri-State Electric is a profitable utility...Ch. 11 - Prob. 5STQCh. 11 - Prob. 6STQCh. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - 4. Explain the significance of par value. Does par...
Ch. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQCh. 11 - Prob. 11DQCh. 11 - Prob. 12DQCh. 11 - Prob. 13DQCh. 11 - Prob. 14DQCh. 11 - Prob. 15DQCh. 11 - Prob. 1BECh. 11 - Prob. 2BECh. 11 - BRIEF EXERCISE 11.3
Dividends on Preferred...Ch. 11 - Prob. 4BECh. 11 - BRIEF EXERCISE 11.5
Dividends on Common and...Ch. 11 - Prob. 6BECh. 11 - Prob. 7BECh. 11 - Prob. 8BECh. 11 - Prob. 9BECh. 11 - Prob. 10BECh. 11 - EXERCISE 11.1
Form of Organization
Assume that you...Ch. 11 - Prob. 2ECh. 11 - Prob. 3ECh. 11 - Prob. 4ECh. 11 - Prob. 5ECh. 11 - Prob. 6ECh. 11 - Prob. 7ECh. 11 - EXERCISE 11.8
Computing Book Value
The following...Ch. 11 - Prob. 9ECh. 11 - Prob. 10ECh. 11 - EXERCISE 11.11
Treasury Stock Presentation
Ashton...Ch. 11 - Prob. 12ECh. 11 - Prob. 13ECh. 11 - Prob. 14ECh. 11 - Prob. 15ECh. 11 - Prob. 1APCh. 11 - Prob. 2APCh. 11 - Prob. 3APCh. 11 - Prob. 4APCh. 11 - Prob. 5APCh. 11 - Prob. 6APCh. 11 - Prob. 7APCh. 11 - Prob. 8APCh. 11 - Prob. 9APCh. 11 - Prob. 1BPCh. 11 - Prob. 2BPCh. 11 - Prob. 3BPCh. 11 - Prob. 4BPCh. 11 - Prob. 5BPCh. 11 - Prob. 6BPCh. 11 - Prob. 7BPCh. 11 - Prob. 8BPCh. 11 - Prob. 9BPCh. 11 - Prob. 1CTCCh. 11 - Prob. 2CTCCh. 11 - Prob. 5CTCCh. 11 - Prob. 3CP
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