ACC 577 Week 4 Quiz ( 100 % Correct Answers )
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 )
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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