Acc 202
1. Which of the following statements about par value is true?
Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks! |
1. Which of the following statements about par value is true? |
d. Is a nominal, arbitrary amount applied to shares of stock; unrelated to actual stock value or price. |
2. When recording for issuance of stock, all of the following accurately describe this process except: |
c. Premium on stock issuance is recognized as income/profit. |
Because it is not an income statement item but it is an equity item. |
3. Which of the following statements about treasury stock is not accurate? |
b. A company may buy back shares of stock and hold them in treasury as a way to allow investors to gain some cash back from their investment. |
Because no dividend is to be paid on treasury stock. |
4. Which of the following statements about cash dividends is inaccurate? |
c. Dividends are paid from contributed capital/stock accounts. |
Because Dividends are paid from earned capital/retained earnings. |
5. Which of the following statements about stock dividends is inaccurate? |
d. Will result in an overall decrease in stockholder’s equity. |
Because stockholder’s equity either remains same. |
6. The characteristics of a corporate structure would not include: |
a. Owners are liable for business debt obligations |
Because Owners are liable only to the extent amount contributed by them. |
Acc 202 1. Which of the following statements about par value is true? Directly tied to...
Which of the following does not accurately describe Total Stockholder’s Equity? Represents the portion of business assets not claimed by creditors Represents the value of ownership for stockholders Includes common stock and retained earnings Represents how much capital has been generated through issuance of stock All of the following accurately describe retained earnings except… The portion of total equity that is earned through profitable operations The accumulation of undistributed net income The portion of equity that is generated through issuing...
Acc 202 Which of the following does not accurately describe Total Stockholder’s Equity? Represents the portion of business assets not claimed by creditors Represents the value of ownership for stockholders Includes common stock and retained earnings Represents how much capital has been generated through issuance of stock All of the following accurately describe retained earnings except… The portion of total equity that is earned through profitable operations The accumulation of undistributed net income The portion of equity that is generated...
Which of the following is not a part of the dividends process? Dividends are declared by board of directors Dividends are recorded as a liability to the stockholders Dividends are determined based on total stockholder’s equity Dividends are distributed based on shares of stock Stock splits will not: Affect total stockholder’s equity Increase the number of outstanding shares Reduce the par value of stock Increase the number of shares of stock on which dividends will be paid How are stock...
(c) What is the par value of the preferred stock? The par value of the preferred stock $ 103 per share (d) If the annual dividend on preferred stock is $41,097, what is the dividend rate on preferred stock? The dividend rate 7.21 % (e) If dividends of $73,200 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance $ 1163700 e Textbook and Media Attempts: 1 of 3 used Save...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
Warner Corporation stockholders' equity consisted of the following on January 1, 2015: Stockholders' Equity Paid-In Capital Capital Stock Common Stock, no par, $15 stated value, 1,000,000 shares authorized 400,000 shares issued and outstanding 6,000,000 Additional Paid-In Capital APIC - Common Stock 4,600,000 Total Paid-In Capital 10,600,000 Retained Earnings 4,100,000 Total Stockholders' Equity 14,700,000 Prepare the appropriate journal entries, if any, for the following transactions in 2015. If no journal entry is required, please clearly indicate that. Show your computations. 2/20/15:...
Print 6. The stockholders' equity of Lakeside Occupational Therapy, Inc. on December 31, 2017, follows: (Click the icon to view the data.) ?(Click the icon to show additional information.) Read the requirements3. Requirement 1. Journalize the declaration and distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend. Date Accounts and Explanation Debit Credit Apr. 30 Now journalize the distribution...
Required informationProblem 10-2A Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5)Skip to question [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 350 shares of preferred stock and 4,500 shares of common stock have been issued. The following transactions affect stockholders’ equity during 2021: March1Issue 1,600 shares of common stock for $47 per...
Stockholders' Equity (January 1) Common stock-$6 par value, 1ee, see shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $ 188,888 140,880 340,000 $662, see Stockholders' Equity (December 31) Common stock-$6 par value, 1ee, see shares authorized, 35,000 shares Issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (55e, Bee restricted by treasury stock) $21e, see 160, 820 42e,629 790,888 (5e.ee)...
On July 1, Davidson Corporation had the following capital structure: Common stock ( $4 par value) Additional paid-in capital Retained earnings Treasury stock $ 606,000 1,040,000 770,000 Required: Complete the table below for each of the two following independent cases: ((Round "Par value per share" amounts to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $6 per share. Case 2: The board of directors announced...