Finishing touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. the following transactions affect stockholders' equity during 2021, its first year of operations: january 2 issues 100,000 shares of common stock for $27 per share. february 6 issues 2,200 shares of 7% preferred stock for $13 per share. september 10 purchases 12,000 shares of its own common stock for $32 per share. december 15 resells 6,000 shares of treasury stock at $37 per share.

Jackson is preparing for his hearing before the federal communications commission (fcc) involving a complaint that was filed against him by the fcc regarding the interruption of radio frequency. the order to "cease and desist" using the radio frequency has had a detrimental impact on his business. once the administrative law judge prepares his or her initial order, jackson has no further options. no, jackson can request that the matter be reviewed by an agency board or commission. yes, once the initial order is presented, it's only a matter of time before the order becomes final.

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.

Describe the three different ways the argument section of a cover letter can be formatted