The Courtney Corporation has the following accounts in its stockholders' equity section at the beginning of 2007: Preferred Stock, $100 par value,
7% cumulatove and nonparticipating, 5,000 shares
authorized, 4,000 shares issued and outstanding
(one year's dividends in arrears)$400,000
Common stock, $5 par value, 35,000 shares authorized,
15,000 shares issued and outstanding$75,000
Paid-in Capital in Excess of ParCommon$300,000
Retained earnings$1,080,000
During 2007, Courtney Corporation declared and distributed the following dividends in the order shawn:
1. The arrears dividend and the current dividend on preferred and a $3 per share common dividend.
2. A 15% stock dividend on common stock, current market price is $28 per share.
3. A $2 per share dividend on common stock outstanding.
Instructions:
Prepare journal emtries for the declaration and distribution od each dividend. (Assume each dividend id distributed prior to the declaration of the subsequent dividend.)

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?

Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were: