Homework Answers
Total of assets should be always be equal to total liabilities.
Total of cash and other assets will be equal to paid in capital.
Referred to as paid in capital
2nd option
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QUESTION 1 The total amount of cash and other assets received by a corporation from its...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During 2/6 the company earned after-tax net income of $300,000 and issued $4.000 in preferred stock dividends. The number of Lill outstanding shares of common and preferred stock did not change during 2016. Additional selected information from the company's 12/31/Y6 balance sheet is as follows: Lill Corporation Balance Sheet (partial) Assets Total current assets $352,000 Total long-term assets 1,908,000 TOTAL ASSETS $2,260,000 Liabilities Total current...
4. 5. 6.7. Kohler Corporation reports the following components of stockholders' equity on December 31, 2016:...
4.
5. 6.7.
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 370,000 $1,340,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 1 Purchased 5,500 shares of its own stock at $15 cash per share. 5 Directors declared...
On January 5, 2017, Sheridan Corporation received a charter granting the right to issue 5,500 shares...
On January 5, 2017, Sheridan 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...
Problem 21.4A Recording cash dividends, stock splits, appropriations of retained earnings, and donated assets; preparing the...
Problem 21.4A Recording cash dividends, stock splits, appropriations of retained earnings, and donated assets; preparing the Stockholders Equity section of the balance sheet. LO 21-5, 21-7, 21-8, 21-9, 21-11 20 points The Stockholders' Equity section of the balance sheet of Willy Corporation on January 1, 2019, is shown below, selected transactions for the year follow: $89,000 8,900 $ 97,900 Stockholders' Equity Preferred Stock (10% cumulative, $10 par value, 200,00 shares authorized) Issued and Outstanding, 8,900 Shares Paid-in Capital in Excess...
Part XIII: Account for the issuance of stock A company neither _____________________________ nor _________________________ when it...
Part XIII: Account for the issuance of stock A company neither _____________________________ nor _________________________ when it sells its stock to, or buys its stock from, its own stockholders. Accounting for no-par stock with a stated value is identical to accounting for par-value stock. True or false? When a corporation issues stock in exchange for assets other than cash, what value are the assets received recorded at? Current market value Cost Par value Stated value Part XIV: Explain how treasury stock...
Sun Corporation received a charter that authorized the issuance of 116,000 shares of $5 par common...
Sun Corporation received a charter that authorized the issuance
of 116,000 shares of $5 par common stock and 21,000 shares of $100
par, 5 percent cumulative preferred stock. Sun Corporation
completed the following transactions during its first two years of
operation:
2018
Jan.
5
Sold 17,400 shares of the $5 par common stock for $7 per
share.
12
Sold 2,100 shares of the 5 percent preferred stock for $110 per
share.
Apr.
5
Sold 23,200 shares of the $5 par...
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'...
Saud Corporation acquired 70% of Rama Corporation’s common stock on 1-1-2019, for $294,000 in cash. At...
Saud Corporation acquired 70% of Rama Corporation’s common stock on 1-1-2019, for $294,000 in cash. At the acquisition date, the book values and fair values of Rama’s assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 30% of the total book value of Rama. The stockholders’ equity of the two companies at the date of the purchase are: Saud Rama Common stock ($10 par value) $400,000 $180,000 ...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity Current assets Equity investments Equipment (net) Intangibles 43,900 64,BOO 238,100 5B,300 $405,100 (c) akmuas declares and issues a 30% stock dividend when the market price of the stock is S 14 per share. Total assets (1) Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $102,000 (2) Common stock Common stock ($5 par》 Paid-in capital in excess of par Retained earnings...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Stockholders' Equity Total Additional Paid-in Capital Total Paid-in Capital and Retained Earnings Ayayai Corp. has issued 90,000 shares of $4 par...
QUESTION 15 Liability and Equity Analysis Lill Company started 20Y6 with $2,300,000 in total assets. During 2/6 the company earned after-tax net income of $300,000 and issued $4.000 in preferred stock dividends. The number of Lill outstanding shares of common and preferred stock did not change during 2016. Additional selected information from the company's 12/31/Y6 balance sheet is as follows: Lill Corporation Balance Sheet (partial) Assets Total current assets $352,000 Total long-term assets 1,908,000 TOTAL ASSETS $2,260,000 Liabilities Total current...
4.
5. 6.7.
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 370,000 $1,340,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 1 Purchased 5,500 shares of its own stock at $15 cash per share. 5 Directors declared...
On January 5, 2017, Sheridan 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...
Problem 21.4A Recording cash dividends, stock splits, appropriations of retained earnings, and donated assets; preparing the Stockholders Equity section of the balance sheet. LO 21-5, 21-7, 21-8, 21-9, 21-11 20 points The Stockholders' Equity section of the balance sheet of Willy Corporation on January 1, 2019, is shown below, selected transactions for the year follow: $89,000 8,900 $ 97,900 Stockholders' Equity Preferred Stock (10% cumulative, $10 par value, 200,00 shares authorized) Issued and Outstanding, 8,900 Shares Paid-in Capital in Excess...
Sun Corporation received a charter that authorized the issuance
of 116,000 shares of $5 par common stock and 21,000 shares of $100
par, 5 percent cumulative preferred stock. Sun Corporation
completed the following transactions during its first two years of
operation:
2018
Jan.
5
Sold 17,400 shares of the $5 par common stock for $7 per
share.
12
Sold 2,100 shares of the 5 percent preferred stock for $110 per
share.
Apr.
5
Sold 23,200 shares of the $5 par...
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'...
SS Company provides you with the following condensed balance sheet information: Assets (5) Total stockholders equity Current assets Equity investments Equipment (net) Intangibles 43,900 64,BOO 238,100 5B,300 $405,100 (c) akmuas declares and issues a 30% stock dividend when the market price of the stock is S 14 per share. Total assets (1) Total assets Liabilities and Stockholders Equity Current and long-term liabilities Stockholders' equity $102,000 (2) Common stock Common stock ($5 par》 Paid-in capital in excess of par Retained earnings...
Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Stockholders' Equity Total Additional Paid-in Capital Total Paid-in Capital and Retained Earnings Ayayai Corp. has issued 90,000 shares of $4 par...
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