Able Corp has pretax financial income of $100,000.  Able has a single difference from the tax return, which is $40,000 of interest from a municipal bond.  The tax rate is 30%. Tax expense makes up what percentage of pretax financial income?

Classifying liabilities as either current or long-term helps creditors assess: 

Mingenback Company has 630,000 shares of $10 par value common stock outstanding. During the year Mingenback declared a 15% stock dividend when the market price of the stock was $48 per share. Two months later Mingenback declared a $.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by:

The accrual of compensation expense for stock options has what effect?

XYZ granted options on shares of stock to key executives on January 1, 2020.  The options had a fair value of $90,000 on the date of grant. The options were exercisable beginning January 1, 2022.  What is the expense for 2020?

On February 1, 2018, Pat Weaver Inc. (PWI) issued 10%, $1,000,000 bonds for $1,116,000. PWI retired all of these bonds on January 1, 2020, at 102. Unamortized bond premium on that date was $92,800. I am asking you to speculate on how much gain or loss should be recognized on this bond retirement. The gain or loss will be a comparison how much you pay at retirement compared to how much liability will be eliminated.

Total stockholders’ equity will increase as a result of a:  

The result of a stock split is:

Chapter 15 Stockholders’ Equity

Chapter 14, Long term debt