Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

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Answer 1

Question

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

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Novak Company has the following stockholders' equity accounts at December 31, 2025. Common Stock ($100 par value, authorized 7,600 shares) $459,100 Retained Earnings 266,700 a. Prepare entries in journal form to record the following transactions, which took place during 2026 1. 290 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) 2. A $22 per share cash dividend was declared. 3. The dividend declared in (2) above was paid. 4. The treasury shares purchased in (1) above were resold at $101 per share. 5. 500 shares of outstanding stock were purchased at $103 per share. 6. 380 of the shares purchased in (5) above were resold at $96 per share. b. Prepare the stockholders' equity section of Novak Company's balance sheet after giving effect to these transactions, assuming that the net income for 2026 was $86,300. State law requires restriction of retained earnings for the amount of treasury stock.

Answer 2

Question

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

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Answer 3

Question

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

Expert Solution & Answer

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Answer 4

Question

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

Expert Solution & Answer

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Answer 5

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

Answer 6

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

Answer 7

Chapter 13, Problem 45E

a.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

Answer 8

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

Answer 9

b.

To determine

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

Answer 10

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

Answer 11

c.

To determine

Explain if there is any unethical behavior by Mr. L in estimating the sales.

Answer 12

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Answer 13

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Answer 14

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Answer 15

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Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

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Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L.

Explain two possible explanations for the difference between the marketing firm’s estimate and Mr. L when Mr. L estimate is $1.1 million.

Explain if there is any unethical behavior by Mr. L in estimating the sales.

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