Aviation Incorporated has 126,000 shares authorized, 116,000 shares issued and no treasury stock. Determine the number of shares outstanding:

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $60,000; the land at $46,600, and the parking lot at $18,400. Land should be recorded in the accounting records with an allocated cost of:

During December, Vixen Company sells $857,000 in merchandise that has a one-year warranty. Warranty expense is estimated at 4% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $14,700 for materials taken from parts inventory. The entry to record the repairs that occur on January 5 is:

A company sold equipment that originally cost $250,000 for $200,000 cash. The accumulated depreciation on the equipment was $50,000. The company should recognize a:

On February 15, Jewel Company buys bonds of Marcelo Corporation for $200,910 cash. This debt investment is classified as available-for-sale securities. This is the company’s first and only investment in available-for-sale securities. Jewel Company sells 30% of the Marcelo Corporation debt investment on November 17 of the current year for $103,800 cash. The entry to record this sale includes a:

A company purchased a weaving machine for $190,000. The machine has a useful life of 8 years and a salvage value of $10,000. It is estimated that the machine could produce 750,000 bolts of woven fabric over its useful life. In the first year, 105,000 bolts were produced. In the second year, production increased to 109,000 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year?

A machine with a cost of $156,000, accumulated depreciation of $98,000, and current year depreciation expense of $23,500 is sold for $50,400 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?

A corporation issued 280 shares of its $5 par value common stock in payment of a $3,600 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include:

A company purchased a delivery van for $18,500 with a salvage value of $2,900 on October 1, Year 1. It has an estimated useful life of 4 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1?