Circle Corporation has 1,000 shares of common stock outstanding. Circle redeems 450 shares owned by Dennis for $75,000 in complete redemption of Dennis's interest. The redemption qualifies as a sale. When the redemption is made, Circle Corporation has $150,000 of current and accumulated E&P and paid-in capital of $50,000. The distribution reduces paid-in capital by
A. $67,500.
B. $22,500.
C. $0.
D. $7,500.
Answer: D
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The Assembly Department of Interface, Inc., manufacturer of computers, had 4500 units of beginning inventory in September, and 8000 units were transferred to it from the Production Department. The Assembly Department completed 4000 units during the month and transferred them to the Packaging Department. The weighted-average method is used. Calculate the total number of units to account for by the Assembly Department.
A) 3500 units B) 8000 units C) 4500 units D) 12,500 units
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Fill in the blank(s) with the appropriate word(s).
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What will be an ideal response?
________ is the taking of another's personal property other than from his or her person or building.
A. Robbery B. Larceny C. Embezzlement D. Burglary