TRANSACTION #4. The company declared a $10,000 cash dividend. This transaction assets, liabilities, and  equity.

Lee Company has 100,000 shares of common stock ($1 par) issued and outstanding. On October 1, 2020, the company declared a 5% common stock dividend when the market price of the common stock was $15 per share. The stock dividend will be distributed on October 15, 2020, to stockholders on record on October 10, 2020. Upon declaration of the stock dividend, Lee Company should record:

Costs to purchase a copyright should:

An owner of common stock is typically entitled to a proportionate share in:

TRANSACTION #6. At the end of the year, the lessee prepares a journal entry to record $10,000 in lease expenses on an operating lease. The lease payment was already made at the beginning of the year. This journal entry the lessee’s assets, the lessee’s liabilities, and lessee’s equity.

In December 2021, Danford Corporation made the following journal entry to account for the receipt of rent on a property rented by a customer:Cash$153,000                   Unearned Rent Revenue                   $153,000The payment represents rent for 2022, the period covered by the rental agreement. Imagine that Danford is a cash-basis taxpayer with a taxable income of $932,000 in 2021 and is subject to an income tax rate of 25% for 2021 and future years. If this is the only book-tax difference for the company, what amount of income tax expense should Danford Corporation report for 2021?

The computation of the pension expense in a defined-benefit plan includes all the following except:

Waystar, Inc. purchased a 40% interest in Royco, Inc. for $200,000 on January 1, 2021, obtaining significant influence. Both companies have fiscal years ending December 31. Royco reported a net income of $10,000 for the year ending December 31, 2021, and declared and paid total cash dividends of $8,000 on December 31, 2021. The fair value of this investment as of December 31, 2021, was $190,000. Assuming this is the only equity investment that Waystar has, what is the balance for their equity investment account on December 31, 2021?

Which of the following depreciation methods are accelerated methods of depreciation?

Dillons Corporation made cash sales that totaled $20,670, including 6% sales tax. What is the required journal entry to record this transaction?