Question
From the following information of Ali company financial data. a) Net income before taxes was $189,500 for the period. The Tax rate is 30%. b)
From the following information of Ali company financial data.
a) Net income before taxes was $189,500 for the period. The Tax rate is 30%.
b) Purchased 20156 shares of common stock at 14 per share for the treasury.
c) Sold equipment with a carrying value of $32,500 at a gain of $6,000.
d) Purchased land and a building worth $450,000 by signing a ten-year note payable.
e) Issued 113277 bond at $1000 par value.
g) Wrote a check for $648,000 for the purchase of machinery.
h) Sold long-term investments in marketable securities with a $50,000 carrying value, at a loss of $17,500.
i) Cash dividends were declared and paid during the period in dollar 65088.
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