Homework Answers
1.
Answer is (a) an arbitrary amount that may have legal
implications.
Par value is decided by arbitrary amount
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nancial Accounting kam – Corporations follow Name_Lewis Munro Itiple Choice _ 1. With regard to a...
Stocks that pay relatively large cash dividends on a regular basis are called: Multiple Choice Small...
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...
please answer all four multiple choice questions QUESTION 1 After a corporation declares a cash dividend,...
please
answer all four multiple choice questions
QUESTION 1 After a corporation declares a cash dividend, what takes place on the date of record? 1. cash decreases 2. stockholders' equity decreases 3. no entry is necessary 4.liabilities decrease QUESTION 2 Ladder Distributors The stockholders' equity section of the December 31, 2019, balance sheet is provided below: Common Stock, $30 par, 20,000 shares issued and outstanding $ 600,000 Paid-in Capital in Excess of Par-Common Stock 240,000 Retained Earnings 700.000 Total Stockholders'...
Correction to retained earnings for an error made in a previous accounting period Credited when dividends...
Correction to retained earnings for an error made in a previous accounting period Credited when dividends are declared, but will be paid at a later date Basic ownership of corporation Authorized stock 1. Receives dividends before 5 common stock Issued stock 2 Distribution of earnings 6 Outstanding stock 3. Common stock The price at which the stock is bought and sold 4. Preferred stock 5 Amounts received from investors in exchange for stock Dividend 6 The amount of net income...
Larkspur Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of...
Larkspur Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock. Date Account Titles and Explanation Debit Credit May 2 Cash 204,000 Capital Stock 204,000 (Issued 12,000 shares of $5 par value common stock at $17 per share) May 10 Cash...
Acc 202 1. Which of the following statements about par value is true? Directly tied to...
Acc 202 1. Which of the following statements about par value is true? Directly tied to market value of stock Directly tied to issue price of stock Determines amount of dividends that will be paid on common stock Is a nominal, arbitrary amount applied to shares of stock; unrelated to actual stock value or price When recording for issuance of stock, all of the following accurately describe this process except: Different classes of stock are recorded in separate stock accounts...
Flint Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of...
Flint Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock. Credit 252,000 960,000 Date Account Titles and Explanation Debit May 2 Cash 252,000 Capital Stock (Issued 14,000 shares of $5 par value common stock at $18 per share) May 10...
The equity sections from Hovo Corporation's 2016 and 2017 balance sheets follow. Problem 13-4B Analysis of...
The equity sections from Hovo Corporation's 2016 and 2017 balance sheets follow. Problem 13-4B Analysis of changes in stockholders' equity accounts C3P2 P30 Stockholders' Equity (December 31, 2016) Common stock-$20 par value, 30,000 shares authorized 17,000 shares issued and outstanding.. Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $340,000 60,000 270,000 $670,000 Chapter 13 Accounting for Corporations Stockholders' Equity (December 31, 2017) Common stock-$20 par value, 30,000 shares authorized 19,000 shares issued, 1,000 shares...
Exercise 11-12 Swifty Corporation recently hired a new accountant with extensive experience in accounting for partnerships....
Exercise 11-12 Swifty Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May 2 Cash 183,600 183,600 10 Capital Stock (Issued 10,200 shares of $15 par value common stock at $18 per share) Cash Capital Stock (Issued 10,200 shares...
Which of the following statement regard the retained earnings is correct? Retained earnings result from the...
Which of the following statement regard the retained earnings is correct? Retained earnings result from the sale of additional shares of stock to investor Retained earnings equal to the difference between market value and book value of the firm Retained earnings result from income not paid to shareholders Retained earnings equal to the difference between assest and liabilites QUESTION 28 Which of the following is true? Book value is a better measurement than market value The separation ownership and management...
19. 19. Share issue costs refer to the costs of obtaining the legal, promotional, and accounting...
19. 19. Share issue costs refer to the costs of obtaining the legal, promotional, and accounting services necessary to effect the sale of shares. The costs reduce the net cash proceeds from selling the shares and thus paid-in capital—excess of par, and are: Multiple Choice Not recorded separately. Recorded as an asset. Amortized over time. Recorded as a liability. 20 Corporations are formed in accordance with: Multiple Choice The Model Business Corporation Act. The laws of individual states. Federal statutes....
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...
please
answer all four multiple choice questions
QUESTION 1 After a corporation declares a cash dividend, what takes place on the date of record? 1. cash decreases 2. stockholders' equity decreases 3. no entry is necessary 4.liabilities decrease QUESTION 2 Ladder Distributors The stockholders' equity section of the December 31, 2019, balance sheet is provided below: Common Stock, $30 par, 20,000 shares issued and outstanding $ 600,000 Paid-in Capital in Excess of Par-Common Stock 240,000 Retained Earnings 700.000 Total Stockholders'...
Correction to retained earnings for an error made in a previous accounting period Credited when dividends are declared, but will be paid at a later date Basic ownership of corporation Authorized stock 1. Receives dividends before 5 common stock Issued stock 2 Distribution of earnings 6 Outstanding stock 3. Common stock The price at which the stock is bought and sold 4. Preferred stock 5 Amounts received from investors in exchange for stock Dividend 6 The amount of net income...
Larkspur Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock. Date Account Titles and Explanation Debit Credit May 2 Cash 204,000 Capital Stock 204,000 (Issued 12,000 shares of $5 par value common stock at $17 per share) May 10 Cash...
Flint Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock. Credit 252,000 960,000 Date Account Titles and Explanation Debit May 2 Cash 252,000 Capital Stock (Issued 14,000 shares of $5 par value common stock at $18 per share) May 10...
The equity sections from Hovo Corporation's 2016 and 2017 balance sheets follow. Problem 13-4B Analysis of changes in stockholders' equity accounts C3P2 P30 Stockholders' Equity (December 31, 2016) Common stock-$20 par value, 30,000 shares authorized 17,000 shares issued and outstanding.. Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $340,000 60,000 270,000 $670,000 Chapter 13 Accounting for Corporations Stockholders' Equity (December 31, 2017) Common stock-$20 par value, 30,000 shares authorized 19,000 shares issued, 1,000 shares...
Exercise 11-12 Swifty Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May 2 Cash 183,600 183,600 10 Capital Stock (Issued 10,200 shares of $15 par value common stock at $18 per share) Cash Capital Stock (Issued 10,200 shares...
Which of the following statement regard the retained earnings is correct? Retained earnings result from the sale of additional shares of stock to investor Retained earnings equal to the difference between market value and book value of the firm Retained earnings result from income not paid to shareholders Retained earnings equal to the difference between assest and liabilites QUESTION 28 Which of the following is true? Book value is a better measurement than market value The separation ownership and management...
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