Show all work please. True/False 7 points each. Circle the correct answer. Corporations avoid many of...
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: Debit Common Stock $26,000; credit Cash $26,000. Debit Common Stock $26,000; debit Paid-in Capital in Excess of Par Value, Common Stock $286,000; credit Cash $312,000. Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value,...
1- The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding $100,000 Paid-in capital in excess of par value, common stock 50,000 Retained earnings 25,000 Treasury stock 11,500 Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is: Multiple Choice $1.15. $1.28. $11.50. $10.50. $10.00. 2- Comfort Mattresses, Inc. sold 26,000 shares of...
Show all work please. True/False 7 points each. Circle the correct answer. Callable bonds have an option exercisable by the issuer to retire them at a stated dollar amount prior to maturity. True False An annuity is a series of equal payments at equal time intervals. True False Multiple Choice 5 points each. Circle the correct answer. 74. Bonds owned by investors whose names and addresses are recorded by the issuing company, and for which interest payments are made with...
Stocks that pay relatively large cash dividends on a regular basis are called: Multiple Choice Small capital stocks. Mid capital stocks. Growth stocks. Large capital stocks. Income stocks. The amount of annual cash dividends distributed to common shareholders relative to the common stock's market value is the: Multiple Choice Dividend payout ratio Dividend yield Price-earnings ratio. Current yield Earnings per share. Corporations may buy back their own stock for any of the following reasons except to: Multiple Choice Avoid a...
Show all work please. DIPIUL 2 True/False 7 points each. Circle the correct answer. 4. A single liability cannot be divided between current and noncurrent liabilities. True False A liability may exist even if there is uncertainty about whom to pay, when to pay, how much to pay. True False 6. Multiple Choice 5 points each. Circle the correct answer. 57. A. B. A contingent liability is Always of a specific amount A potential obligation that depends on a future...
Please show work (answer of paid-in capital excess of par-common stock is not 1188 and paid-in capital excess of par-preferred stock is not 1635) Coronado Corporation's charter authorized issuance of 91,000 shares of $10 par value common stock and 53,700 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,500, 9% bond payable at par and gave as a bonus one share...
QUESTION 1 An important disadvantage of the corporate form of ownership is double taxation. True False 1 points QUESTION 2 The liability of stockholders is normally limited to their investment in the corporation. True False 1 points QUESTION 3 Authorized shares of common stock require a journal entry to record the information. True False 1 points QUESTION 4 The par value of common stock is usually different from the market value of stock. True False 1 points...
Please show all work Coronado Corporation's charter authorized issuance of 91,000 shares of $10 par value common stock and 53,700 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,500, 9% bond payable at par and gave as a bonus one share of preferred stock, which at that time was selling for $107 a share. 2. Issued 470 shares of common stock...
IF there are errors on part a please do correct, looking for full answer for b and c. thank you for help, full answer will get thumbs up. Problem 13-01A a-c DeLong Corporation was organized on January 1 the first year. 2020 It is authorized to issue 10,000 shares of 6%炎100 par value preferred stock, and 500,000 shares of no par common stock with a stated value of $2 per share. The ollowing stock transactions were completed during an 10...
Please write a clear answer and correct 11-26B Analyzing the stockho kholders' equity section of the balance sheet for Stinson Co lders' equity section of the balance sheet Proprietorships, Partnerships, and Corporation as follows r Stinson Company at December 31, Year , is LO 11-2, 11 Stockholders' Equity Paid-in capital Preferred stock. ? par value, 5% cumulative 100,000 shares authorized, 40,000 shares issued and outstanding Common stock, $20 stated value, 150,000 shares 400,000 authorized, 40,000 shares issued and ? outstanding...