Homework Answers
A main accounting issue for property, plant and equipment is the cost of property, plant and equipment
testing property, plant and equipment for impairment
accounting for repairs and improvements to property, plant and equipment along with disposal of property, plant and equipment.
Therefore, all of these are correct.
Buying share in a corporation has various benefits that make them attractive to investors such as shareholders are not liable for the corporation’s actions and debts, shares are easily transaferred, a corporation has unlimited life and also shareholders are not agents of the corporation
Therefore, all of these are correct.
A dividend preference for preferred shares means that preferred shareholders are allocated their dividends before any dividends are allocated to common shareholders
Therefore option A is correct
Option D. The Entry to record the transaction would be A credit to common shares for $184000
Add Answer to:
A main accounting issue for property, plant and equipment is * The cost of property, plant...
A main accounting issue for property, plant and equipment 2 poir is O The cost of...
A main accounting issue for property, plant and equipment 2 poir is O The cost of property, plant and equipment O Testing property, plant and equipment for impairment O Accounting for repairs and improvements to property, plant and equipment O Disposal of property, plant and equipment All of these 2 point Buying shares in a corporation is attractive to investors because O Shareholders are not liable for the corporation's actions and debts. O Shares are easily transferred. O A corporation...
The shareholders can vote to pay themselves a dividend." True False Cumulative preferred shares carry the...
The shareholders can vote to pay themselves a dividend." True False Cumulative preferred shares carry the right to be paid both current and all prior periods' unpaid dividends before any dividends are paid to common shareholders." True False Which of the following is NOT a principle of internal control? Responsibilities should be clearly established Adequate records should be maintained Responsibility for related transactions should be divided Assets should be insured and employees bonded Audits should always be conducted by employees...
The use of internal controls provides guaranteed protection against losses due to operating activities. * 2...
The use of internal controls provides guaranteed protection against losses due to operating activities. * 2 points O True False 2 points Factors that cause the bank statement balance of a chequing account to be different from the business chequing account balance include: outstanding cheques, deposits in transit, deductions for bank fees, additions for interest, and errors. * True O False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as...
The use of internal controls provides guaranteed protection against losses due to operating activities. True False...
The use of internal controls provides guaranteed protection against losses due to operating activities. True False Factors that cause the bank statement balance of a chgawineaccount to be different from the business cRRHeaccount balance include: outstanding cheques, deposits in transit, deductions for bank fees, additions for interest, and errors. True False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as a debit to Accounts Receivable-RDA Electronics and a credit to...
1)The use of internal controls provides guaranteed protection against losses due to operating activities. True False...
1)The use of internal controls provides guaranteed protection against losses due to operating activities. True False 2)Factors that cause the bank statement balance of a çbeauioa account to be different from the business gbeauioeaccount balance include: outstanding cheques deposits in transit, deductions for bank fees, additions for interest, and errors. True False 3)TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. Tech Com should record the transaction as a debit to Accounts Receivable-RDA Electronics and a...
please answer the following multiple choice questions 20. The following information is from the balance sheet...
please answer the following multiple choice questions
20. The following information is from the balance sheet of Tudor Corporation as of December 31, 2014 Preferred stock, S100 par Paid-in capital in excess of par preferred Common stock, SI par Paid-in capital in excess of par common Retained earnings Total stockholders' equity What was the average issue price of the common stock shares? A) S1.90 B) $1.00 C) $3.00 D) S13.15 $ 500,000 35,000 190,000 380,000 131.500 SL236.500 21. Dallkin Corporation...
On January 5, 2020, Shamrock Corporation received a charter granting the right to issue 5,500 shares...
On January 5, 2020, Shamrock Corporation received a charter granting the right to issue 5,500 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 48,400 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 21,900 shares of common stock at $16 per share. Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value...
Presented below is information related to Stellar Company: 1. The company is granted a charter that...
Presented below is information related to Stellar Company:
1. The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000 shares of no-par common stock. 2. 8,000 shares of common stock are issued to the founders of the corporation for land valued by the board of directors at $280,000. The board establishes a stated value of $10 a share for the common stock. 3. 5,600 shares of preferred stock are sold...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 141,000...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 141,000 shares of $10 par common stock. 2. 8,000 shares of $50 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 8,000 shares of preferred stock and a $4 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the...
A company purchased property for $100,000. The property included a building, equipment and land. The building...
A company purchased property for $100,000. The property included a building, equipment and land. The building was appraised at $62,000, the land at $45,000, and the equipment at $18,000 for a total appraised value of $125,000. What is the amount of cost to be allocated to the building in the accounting records? $0 $49,600 $62,000 $100,000 A company purchased office equipment for $24,500 and paid $1,470 in sales tax, $550 for installation, $3,200 for a needed adjustment to the equipment,...
A main accounting issue for property, plant and equipment 2 poir is O The cost of property, plant and equipment O Testing property, plant and equipment for impairment O Accounting for repairs and improvements to property, plant and equipment O Disposal of property, plant and equipment All of these 2 point Buying shares in a corporation is attractive to investors because O Shareholders are not liable for the corporation's actions and debts. O Shares are easily transferred. O A corporation...
The shareholders can vote to pay themselves a dividend." True False Cumulative preferred shares carry the right to be paid both current and all prior periods' unpaid dividends before any dividends are paid to common shareholders." True False Which of the following is NOT a principle of internal control? Responsibilities should be clearly established Adequate records should be maintained Responsibility for related transactions should be divided Assets should be insured and employees bonded Audits should always be conducted by employees...
The use of internal controls provides guaranteed protection against losses due to operating activities. * 2 points O True False 2 points Factors that cause the bank statement balance of a chequing account to be different from the business chequing account balance include: outstanding cheques, deposits in transit, deductions for bank fees, additions for interest, and errors. * True O False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as...
The use of internal controls provides guaranteed protection against losses due to operating activities. True False Factors that cause the bank statement balance of a chgawineaccount to be different from the business cRRHeaccount balance include: outstanding cheques, deposits in transit, deductions for bank fees, additions for interest, and errors. True False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as a debit to Accounts Receivable-RDA Electronics and a credit to...
1)The use of internal controls provides guaranteed protection against losses due to operating activities. True False 2)Factors that cause the bank statement balance of a çbeauioa account to be different from the business gbeauioeaccount balance include: outstanding cheques deposits in transit, deductions for bank fees, additions for interest, and errors. True False 3)TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. Tech Com should record the transaction as a debit to Accounts Receivable-RDA Electronics and a...
please answer the following multiple choice questions
20. The following information is from the balance sheet of Tudor Corporation as of December 31, 2014 Preferred stock, S100 par Paid-in capital in excess of par preferred Common stock, SI par Paid-in capital in excess of par common Retained earnings Total stockholders' equity What was the average issue price of the common stock shares? A) S1.90 B) $1.00 C) $3.00 D) S13.15 $ 500,000 35,000 190,000 380,000 131.500 SL236.500 21. Dallkin Corporation...
On January 5, 2020, Shamrock Corporation received a charter granting the right to issue 5,500 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 48,400 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 21,900 shares of common stock at $16 per share. Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value...
Presented below is information related to Stellar Company:
1. The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000 shares of no-par common stock. 2. 8,000 shares of common stock are issued to the founders of the corporation for land valued by the board of directors at $280,000. The board establishes a stated value of $10 a share for the common stock. 3. 5,600 shares of preferred stock are sold...
Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 141,000 shares of $10 par common stock. 2. 8,000 shares of $50 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 8,000 shares of preferred stock and a $4 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required a. Determine the...
Most questions answered within 3 hours.
-
An empty test tube weighs 15.923 grams. Then,
MgCl2•6H2O is added into the test tube. After...
asked 41 minutes ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 39 minutes ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 40 minutes ago -
Assume memory access is 10 units of time and disk access is
10000 units of time....
asked 59 minutes ago -
1. Are all good samples random?
2. Magazines often report surveys giving statistics such as “63%...
asked 1 hour ago -
Under all the various types of market structures, firms
must eventually earn some economic profits for...
asked 1 hour ago -
Consider the following fitness regime for a single locus trait
with two co-dominant alleles: w11 =...
asked 1 hour ago -
A large cable company reports the following.
80% of its customers subscribe to its cable TV...
asked 1 hour ago -
Please answer the question in brief.
Discuss the role of ERP in organizations. Are ERP tools...
asked 1 hour ago -
Discuss the pros and cons of collaborative software such
as SameTime. Does it increase productivity? What...
asked 1 hour ago -
Buying your in-laws a gift because it’s expected is
due to the ____________ motive of gift-giving....
asked 1 hour ago -
Calculate the expected value, the variance, and the standard
deviation of the given random variable X....
asked 2 hours ago