ACC 577 Week 4 Quiz( 100 % Correct Answers) For more course tutorials visit www. uophelp. com
Question 20
In November and December 2005, Dorr Co., a newly organized magazine publisher, received $ 72,000 for 1,000 three-year subscriptions at $ 24 per year, starting with the January 2006 issue. Dorr elected to include the entire $ 72,000 in its 2005 income tax return. What amount should Dorr report in its 2005 income statement for subscriptions revenue?
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ACC 577 Week 4 Quiz( 100 % Correct Answers) For more course tutorials visit www. uophelp. com
Week 4 Quiz All Questions Details given below( Please Check) Question 1
Treasury stock was acquired for cash at a price in excess of its original issue price. The treasury stock was subsequently reissued for cash at a price in excess of its acquisition price. Assuming that the par value method of accounting for treasury stock transactions is used, what is the effect on total stockholders ' equity of each of the following events?
Question 2
Murphy Co. had 200,000 shares outstanding of $ 10 par common stock on March 30 of the current year. Murphy reacquired 30,000 of those shares at a cost of $ 15 per share and recorded the transaction