Homework Answers
The first four questions are being answered here. Please post the remaining questions separately.
| 1. Which of the following is not a characteristic of a corporation? |
| Access to limited amounts of capital |
| Explanation: Corporations can raise capital by issuing stock when they are need. There access to capital is not limited. |
| 2. If 50,000 shares are authorized, 37,000 shares are issued, end 2,000 shares are reacquired, the number of outstanding shares is 37,000. |
| FALSE |
| Explanation: The number of shares reacquired by the a company are subtracted from its outstanding shares. |
| 3. One of the conditions for paying a cash dividend is formal action by the board of directors. |
| TRUE |
| Explanation: The directors must formally declare the cash dividends. |
| 4. The par value of per share of common stock represents: |
| The monetary amount assigned to each share of stock in the articles of incorporation |
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1-7
Question 1 1.25 pts Which of the following is not a characteristic of a corporation?...
Question 7 1.25 pts Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid...
Question 7 1.25 pts Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid in capital in excess of par, common stock 1,200,000 Retained earnings 2.500.000 Total $5,170,000 Based on the information above, how many shares of common stock are classified as issued? 1,500,000 1,000,000 300,000 200,000
Contributed Capital: Common Stock - $4 par value, 5,000,000 shares authorized, 300,000 shares issued and outstanding...
Contributed Capital: Common Stock - $4 par value, 5,000,000 shares authorized, 300,000 shares issued and outstanding Paid capital in Excess of Par, Common Retained Earnings Total Stockholders' Equity $1,200,000 1.600.000 2.000.000 $4,800,000 The following transactions occurred in sequence during 2019: a. Issued 40,000 shares of $100 par value, 10% cumulative preferred stock at par, b. Declared a 2 per 1 stock split on outstanding common shares. c. Bought land valued at $980,000 by using 100,000 shares of common stock. d....
Sheffield Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par...
Sheffield Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders’ equity. Preferred Stock, 50,000 shares $ 5,000,000 Common stock, 1,200,000 shares 2,400,000 Paid-in Capital in Excess of Par – Preferred Stock 300,000 Paid-in Capital in Excess of Par – Common Stock 28,800,000 Retained Earnings 12,800,000 The following transactions affected stockholders’ equity during 2018. Jan. 1 - 500 shares of preferred stock issued...
Question 18 5 pts The following will be used to answer the next question. Debt: 15,000...
Question 18 5 pts The following will be used to answer the next question. Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share. Common Stock: 300,000 shares outstanding selling for $80 per share, the beta is 1.5, the risk-free rate is 6% and the...
Problem 5: Stock dividends (12 pts) On January 1, 2019, Las Polamas Inc. had the following...
Problem 5: Stock dividends (12 pts) On January 1, 2019, Las Polamas Inc. had the following account balances in its equity accounts lances in its shareholders' Common stock. $0.01 par, 1,000,000 shares issued $10,000 Paid-in capital-excess of par, common 6.990,000 Retained earnings 4,000,000 During 2019, Las Polamas Inc. had several transactions relating to common stock March 8 Declared and distributed an 8 stock dividend on outstanding common stock. The fair value of the common stock is $8 per share on...
Question 17 5 pts The following will be used to answer the next question Debt: 15,000...
Question 17 5 pts The following will be used to answer the next question Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share Common Stock: 300,000 shares outstanding selling for $80 per share, the beta is 1.5, the risk-free rate is 6% and the...
Question 19 5 pts The following will be used to answer the next question Debt: 15,000...
Question 19 5 pts The following will be used to answer the next question Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share. Common Stock: 300,000 shares outstanding selling for $80 per share the beta is 1.5, the risk-free rate is 6% and the...
Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of...
Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of $10 par value common stock that are issued and outstanding. The general ledger shows the following account balances relating to the common stock: Common stock Paid-in capital in excess of par value $5,000,000 3,500,000 On March 2, Center Corporation splits its stock 2-for-1 and reduces the par value to $5 per share. a. How many shares of common stock are issued and outstanding immediately...
Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of...
Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of $10 par value common stock that are issued and outstanding. The general ledger shows the following account balances relating to the common stock: Common stock $5,000,000 Paid-in capital in excess of par value 3,500,000 On March 2, Center Corporation splits its stock 2-for-1 and reduces the par value to $5 per share. a. How many shares of common stock are issued and outstanding immediately...
At December 31, 2016, Western Corporation had 40,000 shares outstanding of $30 par value common stock....
At December 31, 2016, Western Corporation had 40,000 shares outstanding of $30 par value common stock. The shares were originally issued for $84 per share. On January 1, 2017, Western split its common stock 3 for 1 with a corresponding reduction in the stock’s par value. The market price of the stock just before the split was $150 per share. After the split, the balance in the common stock account is: Group of answer choices $6,000,000 $3,600,000 $1,200,000 $3,060,000
Question 7 1.25 pts Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid in capital in excess of par, common stock 1,200,000 Retained earnings 2.500.000 Total $5,170,000 Based on the information above, how many shares of common stock are classified as issued? 1,500,000 1,000,000 300,000 200,000
Contributed Capital: Common Stock - $4 par value, 5,000,000 shares authorized, 300,000 shares issued and outstanding Paid capital in Excess of Par, Common Retained Earnings Total Stockholders' Equity $1,200,000 1.600.000 2.000.000 $4,800,000 The following transactions occurred in sequence during 2019: a. Issued 40,000 shares of $100 par value, 10% cumulative preferred stock at par, b. Declared a 2 per 1 stock split on outstanding common shares. c. Bought land valued at $980,000 by using 100,000 shares of common stock. d....
Question 18 5 pts The following will be used to answer the next question. Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share. Common Stock: 300,000 shares outstanding selling for $80 per share, the beta is 1.5, the risk-free rate is 6% and the...
Problem 5: Stock dividends (12 pts) On January 1, 2019, Las Polamas Inc. had the following account balances in its equity accounts lances in its shareholders' Common stock. $0.01 par, 1,000,000 shares issued $10,000 Paid-in capital-excess of par, common 6.990,000 Retained earnings 4,000,000 During 2019, Las Polamas Inc. had several transactions relating to common stock March 8 Declared and distributed an 8 stock dividend on outstanding common stock. The fair value of the common stock is $8 per share on...
Question 17 5 pts The following will be used to answer the next question Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share Common Stock: 300,000 shares outstanding selling for $80 per share, the beta is 1.5, the risk-free rate is 6% and the...
Question 19 5 pts The following will be used to answer the next question Debt: 15,000 10% coupon bonds outstanding, 30 years to maturity, selling for 106 (bonds have a $1000 par value with semiannual interest payments) Preferred Stock: 20,000 shares of 7% preferred stock outstanding with a par value of $100 and currently selling for $128 per share. Common Stock: 300,000 shares outstanding selling for $80 per share the beta is 1.5, the risk-free rate is 6% and the...
Forward Stock Split On March 1 of the current year, Center Corporation has 500,000 shares of $10 par value common stock that are issued and outstanding. The general ledger shows the following account balances relating to the common stock: Common stock Paid-in capital in excess of par value $5,000,000 3,500,000 On March 2, Center Corporation splits its stock 2-for-1 and reduces the par value to $5 per share. a. How many shares of common stock are issued and outstanding immediately...
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