if a minor receives 2900 shares of stock, is a disclaimer required
if a minor receives 2900 shares of stock, is a disclaimer required
Homework Answers
Answer :Yes disclaimer required
Explanation :
1.a disclaimer is a refusal to accept an interest in property
2.disclaimer is provided when the personal representative or guardian obtains a approval from court having jurisdiction of decedents estate
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the...
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the current year, th 40,000 shares of preferred stock at S shares have been repurchased at $23 per share stock option plan that the company intends to implement orized to sell 1,200,000 shares of $10 par value common stock and 60,000 shares of $100 par value 6 percent nd of the current year, the company has actually sold 550.000 shares of common stock at $12...
Ambrose purchased 400 shares of $100 par value original issue common stock from Minor Corporation for...
Ambrose purchased 400 shares of $100 par value original issue common stock from Minor Corporation for $25 a share. Ambrose subsequently sold 200 of the shares to Harris at $25 a share. Harris did not have knowledge or notice that Ambrose had not paid par. Ambrose also sold 100 shares of this stock to Gable for $25 a share. At the time of this sale, Gable knew that Ambrose had not paid par for the stock. Minor Corporation became insolvent...
When a company receives $50,000 in exchange for issuing 1,000 shares of common stock. The total...
When a company receives $50,000 in exchange for issuing 1,000 shares of common stock. The total liabilities increase by:
During the taxable year, beneficiary M receives 100 shares of Acme common stock from Trust T....
During the taxable year, beneficiary M receives 100 shares of Acme common stock from Trust T. The basis of the stock is $70 per share to the trust, and its fair market value at date of distribution is $110 per share. The trust's DNI for the year is $60,000, all of which is taxable. There were no other distributions made or required to be made by the trust. A) Assume the stock distribution was in satisfaction of an $11,000 pecuniary...
4 Journal entries are required: 1. Record the issuance of 100,000 shares of common stock for...
4 Journal entries are
required:
1. Record the issuance of 100,000 shares of common stock for $21
per share.
2. Record the issuance of 1,600 shares of 7% preferred stock for
$13 per share.
3. Record the purchase of 12,000 shares of its own common stock
for $26 per share.
4. Record the resale of 6,000 shares.
Check my work Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions...
Lodi Company is authorized to issue 100,000 shares of no-par, $6 stated-value common stock and 10,000...
Lodi Company is authorized to issue 100,000 shares of no-par, $6 stated-value common stock and 10,000 shares of 9%, $100 par preferred stock. It enters into the following transactions on December 31: 1. Accepts a subscription contract to 7,000 shares of common stock at $42 per share and receives a 30% down payment. 2. Collects the remaining balance of the subscription contract and issues the common stock. 3. Acquires a building by paying $3,000 cash and issuing 3,000 shares of...
1) Your client buys 10 shares of stock at time 0 for $49 per share. At...
1) Your client buys 10 shares of stock at time 0 for $49 per share. At time 1, he receives a dividend of $3 per share, and buys another 10 shares at the new price of $50 per share. At time 2, he receives a dividend of $3 per share, and sells his entire holding of stock for $58 per share. What was the client's money-weighted (dollar-weighted) annual return on this position? Enter answer as a percentage, accurate to two...
1.On March 1, Year 1, ABC Company required 4,000 shares of its common stock for 50...
1.On March 1, Year 1, ABC Company required 4,000 shares of its common stock for 50 per share. Suppose the company reissued 1,000 shares of its treasury stock on June 1, Year 1, for 44 each.Which of the following is true regarding the entry required to record this transaction? A. A debit to treasury stock is required for $44,000. B. A credit to treasury stock is required for $50,000. C. A credit to retained earnings is required for $6,000 D....
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
Minor Company is authorized to sell 1,200,000 shares preferred stock. As of the end of the current year, th 40,000 shares of preferred stock at S shares have been repurchased at $23 per share stock option plan that the company intends to implement orized to sell 1,200,000 shares of $10 par value common stock and 60,000 shares of $100 par value 6 percent nd of the current year, the company has actually sold 550.000 shares of common stock at $12...
4 Journal entries are
required:
1. Record the issuance of 100,000 shares of common stock for $21
per share.
2. Record the issuance of 1,600 shares of 7% preferred stock for
$13 per share.
3. Record the purchase of 12,000 shares of its own common stock
for $26 per share.
4. Record the resale of 6,000 shares.
Check my work Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
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