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Conch Republic Electronics is a mid sized electronics manufacturer located in Key West, Florida. The company president is Shelley Couts, who inherited the company. When it was founded over 70 years ago, the company originally repaired radios and other household appliances. Over the years, the company expanded into manufacturing and is now a reputable manufacturer of various electronic items. Jay McCanless, a recent MBA graduate, has been hired by the company's finance department. One of the major revenue-producing items manufactured by Conch Republic is a personal digital assistant (PDA). Conch Republic currently has one PDA model on the market, and sales have been excellent. The PDA is a unique item in that it comes in a variety of tropical colors and is preprogrammed to play Jimmy Buffett music. However, as with any electronic item, technology changes rapidly, and the current PDA has limited features in comparison with newer models. Conch Republic developed a prototype for a new...

Question 1 The stockholders' equity section of Sliver Corporation's balance sheet at December 31, 2014, was as follows: Common stock ($10 par value, authorized 1,000,000 shares, issued and outstanding 900,000 shares) ... $ 9,000,000 Paid-In capital in excess of par ................... 2,700,000 Retained earnings .................................. 1,300,000 Total stockholders' equity ......................... $13,000,000 On January 2, 2015, Sliver purchased and retired 100,000 shares of its stock for $1,800,000. Sliver records treasury stock using the par value method. Immediately after retirement of these 100,000 shares, the balances in the additional paid-in capital and retained earnings accounts should be Paid-In Capital Retained in Excess of Par Earnings $900,000 $1,300,000 $1,400,000 $800,000 $1,900,000 $1,300,000 $2,400,000 $800,000 0.6 points  Question 2 To compute the price to pay for a bond, you use only the present value of $1 con...

MULTIPLE CHOICE  1. Under the corporate form of business organization  a. a stockholder is personally liable for the debts of the corporation.  b. stockholders’ acts can bind the corporation even though the stockholders have not  been appointed as agents of the corporation.  c. the corporation’s life is stipulated in its charter.  d. stockholders wishing to sell their corporation shares must get the approval of other  stockholders.  2 Stockholders of a corporation directly elect  a. the president of the corporation.  b. the board of directors.  c. the treasurer of the corporation.  d. all of the employees of the corporation.  3 Those most responsible for the major policy decisions of a corporation are the  a. stockholders.  b. board of directors.  c. management.  d. employees.  4 The chief accounting officer in a company is known as the  a. controller.  b. treasure...