Homework Answers
1. Cash dividend are paid on the basis of outstanding shares. Answer is option C.
2. Preemptive right is the right to share proportionately in any new issue of stock of same class. Answer is option B. This right is given to secure their position in organization
3. Answer is option D. Difference between the requisition price and net carrying amount of debt.
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1. Cash dividends are paid on the basis of the number of shares A) authorized B)...
Name: 1. Cash dividends are paid on the basis of the number of shares A) authorized...
Name: 1. Cash dividends are paid on the basis of the number of shares A) authorized B) issued. C) outstanding. D) outstanding less the number of treasury shares. 2. The preemptive right of a common stockholder is the right to A) share proportionately in corporate assets upon liquidation. B)share proportionately in any new issues of stock of the same class. C) receive cash dividends before they are distributed to preferred stockholders. D) exclude preferred stockholders from voting rights.
3. The generally accepted method of accounting for gains or losses from the early extinguishment of...
3. The generally accepted method of accounting for gains or losses from the early extinguishment of debt treats any gain or loss as A) an adjustment to the cost basis of the asset obtained by the debt issue. B) an amount that should be considered a cash adjustment to the cost of any other debt issued over the remaining life of the old debt instrument. an amount received or paid to obtain a new debt instrument and, as such, should...
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...
Instructions: what is the correct answer Cash dividends are paid on the basis of the number...
Instructions: what is the correct answer Cash dividends are paid on the basis of the number of shares a. authorized b. issued c. outstanding d. outstanding less the number of treasury shares
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000...
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares issued, and 46,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Ο O Debit Dividends Payable and credit Cash for $36,750 Ο Debit Dividends and credit Dividends Payable for $36.750, Ο Debit Dividends and credit Dividends Payable for $34.500 Ο O Debit Dividends Payable and credit Cash for $90.000 A company issued 8% preferred...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
Preferred shares cash dividends have been declared and paid. Common share dividends have been declared, but...
Preferred shares cash dividends have been declared and paid. Common share dividends have been declared, but not paid. In preparation for the public issuance of shares in five years, HEMI’s management declared a 10% common stock dividend on November 1, 2019. Common shares for the stock dividends wereissued to the existing common shareholders on December 30, 2019. However, the transaction has not been recorded in HEMI’s accounting records. HEMI is authorized to issue 50,000,000. HEMI issued 12,000,000 common shares on...
Preferred shares cash dividends have been declared and paid. Common share dividends have been declared, but...
Preferred shares cash dividends have been declared and paid. Common share dividends have been declared, but not paid. In preparation for the public issuance of shares in five years, HEMI’s management declared a 10% common stock dividend on November 1, 2019. Common shares for the stock dividends wereissued to the existing common shareholders on December 30, 2019. However, the transaction has not been recorded in HEMI’s accounting records. HEMI is authorized to issue 50,000,000. HEMI issued 12,000,000 common shares on...
QUESTION 13 If shareholders are granted a preemptive right they will: A. be given the choice...
QUESTION 13 If shareholders are granted a preemptive right they will: A. be given the choice of receiving dividends either in cash or in additional shares of stock. B. be paid dividends prior to the preferred shareholders during the preemptive period. Chave priority in the purchase of any newly issued shares. D. W. be able to choose the timing and amount of any future dividends. E be entitled to two votes per share of stock.
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
Name: 1. Cash dividends are paid on the basis of the number of shares A) authorized B) issued. C) outstanding. D) outstanding less the number of treasury shares. 2. The preemptive right of a common stockholder is the right to A) share proportionately in corporate assets upon liquidation. B)share proportionately in any new issues of stock of the same class. C) receive cash dividends before they are distributed to preferred stockholders. D) exclude preferred stockholders from voting rights.
3. The generally accepted method of accounting for gains or losses from the early extinguishment of debt treats any gain or loss as A) an adjustment to the cost basis of the asset obtained by the debt issue. B) an amount that should be considered a cash adjustment to the cost of any other debt issued over the remaining life of the old debt instrument. an amount received or paid to obtain a new debt instrument and, as such, should...
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...
Mapleleaf Industries declared a $0.75 per share cash dividend. The company has 120,000 shares authorized, 49,000 shares issued, and 46,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? Multiple Choice Ο O Debit Dividends Payable and credit Cash for $36,750 Ο Debit Dividends and credit Dividends Payable for $36.750, Ο Debit Dividends and credit Dividends Payable for $34.500 Ο O Debit Dividends Payable and credit Cash for $90.000 A company issued 8% preferred...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
QUESTION 13 If shareholders are granted a preemptive right they will: A. be given the choice of receiving dividends either in cash or in additional shares of stock. B. be paid dividends prior to the preferred shareholders during the preemptive period. Chave priority in the purchase of any newly issued shares. D. W. be able to choose the timing and amount of any future dividends. E be entitled to two votes per share of stock.
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
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