Major league apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. the following transactions affect stockholders’ equity during 2012, its first year of operations: jan. 2 issue 118,000 shares of common stock for $65 per share. feb. 14 issue 64,000 shares of preferred stock for $11 per share. may 8 repurchase 11,000 shares of its own common stock for $55 per share. may 31 reissue 7,000 shares of treasury stock for $60 per share. dec. 1 declare a cash dividend on its common stock of $.70 per share and a $32,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders of record on december 15. the dividend is payable on december 30. (hint: dividends are not paid on treasury stock.) dec. 30 pay the dividends declared on december 1. given the information above, what are the amount for "retained earning" and "treasury stock" on the balance sheet?

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

Trey morgan is an employee who is paid monthly. for the month of january of the current year, he earned a total of $4,538. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year, and the fica tax rate for medicare is 1.45% of all earnings for both the employee and the employer. the amount of federal income tax withheld from his earnings was $680.70. his net pay for the month is .

In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u. s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?