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What is the process of dividing up assets and allocating them to resource providers (creditors and investors)?

Ben Weaver is planning to invest in one of the following companies based on their average performance over the past five years, summarized below. CompanyNet IncomePrice-Earnings RatioCash Dividend per shareGalax, Incorporated$ 2,500,00018.00$ 0.36Apex, Incorporated$ 1,500,00016.00$ 1.20Bendex, Incorporated$ 6,000,00015.50$ 0.50Curex, Incorporated$ 4,400,00012.00$ 0.30 If Ben is looking for a company that is likely to achieve rapid growth in revenues and profitability, which one should he choose?

How does the going concern assumption affect accounting for notes payable?

On September 1, Year 1, Orville Corporation has unappropriated retained earnings of $8,100,000, appropriated retained earnings of $5,100,000, cash of $9,600,000, and accounts payable of $1,600,000. What is the maximum amount that can be used for cash dividends?

On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $34,000. A total of $3,400 was paid for installation and testing. During the first year, Milton paid $5,100 for insurance on the equipment and another $670 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $6,800. During Year 1, the equipment produced 12,000 units. What is the amount of depreciation for Year 1?

How does the amortization of the principal balance on an installment note payable affect the amount of interest expense recorded each succeeding year?

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $62,000 and $3,000, respectively. During Year 2, Allegheny wrote off $5,400 of Uncollectible Accounts. Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $4,800. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement?

On January 1, Year 2, Kincaid Company’s Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500, respectively. During Year 2, Kincaid reported $72,500 of credit sales, wrote off $550 of receivables as uncollectible, and collected cash from receivables amounting to $74,550. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.What is the net realizable value of receivables that will be reported on Kincaid’s Year 2 balance sheet?

Fixit Corporation issued 26,000 shares of $10 par value common stock at its current market price of $26. How does this event affect total stockholders’ equity?

On January 1, Year 1, Raven Limo Service, Incorporated paid $71,000 cash to purchase a limousine. The limo was expected to have a five-year useful life and a $18,300 salvage value. On January 1, Year 5 the limo was sold for $30,500 cash. Assuming Raven uses straight-line depreciation, the company would recognize a: