(1) Issued shares on January 1 for $60,000(2) Repurchased 2,000 shares on April 30(3) Reissued some treasury shares in August at a price of $10 per shareA) Prepare the journal entry recorded by company X, including the account names and amounts, for each transaction. (Note, even if you don’t have the numbers, show the accounts […]

Final exam 1. On Tuesday, Jon offered to sell his CD collection to Sandy for $100. Sandy replied, “I’m interested. I’ll think it over and let you know Thursday whether I want to buy the CDs.” On Wednesday, Jon agreed to sell the CDs to Jason, and Jason immediately gave Jon a letter that stated: […]

Pemphigus is a disease characterized by blistering of the skin and mucous membranes. This is caused by antibodies attacking proteins on skin cells that keep them glued together, leading to the cell separation and blistering. What type of hypersensitivity reaction does this describe?Type IType IIType IIIType IV

QUIZ 31 A process cost system would be used for all of the following products exceptcomputer chips. chemicals. motion pictures. soft drinks.2 Differences between a job order cost system and a process cost system include all of the following except the point at which costs are totaled. unit cost computations. documents used to track costs. […]

Social Mobility ModelA study of social mobility across generations was conducted and three social levels wereidentified: 1= upper level (executive, managerial, high administrative, professional); 2=middle level (high grade supervisor, non-manual, skilled manual); 3= lower level (semiskilledor unskilled). Transition probabilities from generation to generation were estimatedto beP =???.45 .48 .07.05 .70 .25.01 .50 .49??? . (1)Suppose […]

Air Products Case Study 1. Why was it important for Air Products to develop a global engineering and procurement process? What are the primary objectives of the process? 2. What are some of the disadvantages that Air Products has realized from viewing its European and U.S. procurement and engineering centers as separate operations? 3. Ace […]

1. Why are there only two political parties that ever successfully elect candidates to office in the United States? Specify how these parties differ from each other on three issues?2. What are the different groups of voters who prefer the Democratic Party’s candidates for office? Who supports the Republicans? Explain why one of these particular […]

A cold and flu study is looking at how two different medications work on sore throats and fever. Results are as follows:Sore throat – Medication A: Success rate – 90% (101 out of 112 trials were successful)Sore throat – Medication B: Success rate – 83% (252 out of 305 trials were successful)Fever – Medication A: […]

Prepare a multistep income statement for distribution to external financial statement users.Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,700; Cost of Goods Sold, $24,300; Income Tax Expense, $3,230; Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,900; Sales Revenue, $45,000; Sales […]

Boots Company has two divisions. Land Division, which has operating assets of $80,000,000 produces and sells 900,000 units of a product at a market price of $140 per unit. Variable costs total $40 per unit. The division also assigns $70 of fixed costs to each unit based on total capacity of 1,000,000 units.Sea Division wants […]