Homework Answers
Answer: option "is indicated in its charter" is correct
Explanation:
Corporate charter is a set of written document which is filed with the respective authorities at the time of incorporation of the company. The charter contains information such as business type, objective of organisation, authorised capital.
Authorised capital means the amount of capital for which the entity is authorized to issue shares.
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Calculator The authorized stock of a corporation Oa. only reflects the initial capital needs of the...
e dtakeAssig Calculator Par value Oa. represents the original selling price for a share of stock....
e dtakeAssig Calculator Par value Oa. represents the original selling price for a share of stock. Ob. is established for a share of stock after it is issued. Oc. is the monetary value assigned per share in the corporate charter Od. represents what a share of stock is worth.
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000...
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value...
Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value of $158. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa 821,600 Ob. 316,000 Oc. 63,200 Od. 252,800 When Wisconsin Corporation was formed on January 1, the corporate charter provided for 98,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,340 shares of stock at a price of $22...
When Wisconsin Corporation was formed on January 1, the corporate charter provided for 109,300 shares of...
When Wisconsin Corporation was formed on January 1, the corporate charter provided for 109,300 shares of $12 par value common stock. During its first month of operation, the corporation issued 8,750 shares of stock at a price of $29 per share. The entry to record the above transaction would include a Oa. credit to Paid-In Capital in Excess of Par-Common Stock for $148,750 Ob. credit to Common Stock for $253,750 Oc. debit to Cash for $105,000 Od. debit to Common...
1954873726473946058elSBN-97813373869998id-4389320168snapshotld Q Search this course Project Repat is classified as a(n) few people own shares of...
1954873726473946058elSBN-97813373869998id-4389320168snapshotld Q Search this course Project Repat is classified as a(n) few people own shares of its stock. Oa. open corporation Ob. S corporation Oc. closed corporation Od. B corporation because only a Project Repat has a corporate charter. Which of the following would NOT likely be found in a corporate charter? Oa. The maximum amount of stock and types of stock to be issued 21 Skip Submit Answer
Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of...
Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of $15,000 into the business cash account Identify how the accounting equation will be affected. Oa. Increase in assets (Cash) and increase in owner's equity (Michael Anderson, Capital) Ob. Increase in assets (Accounts Receivable) and decrease in liabilities (Accounts Payable) Oc. Increase in assets (Cash) and increase in assets (Accounts Receivable) Od. Increase in assets (Cash) and increase in liabilities (Accounts Payable)
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid...
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Homework: Chapter 14 Calculator Print liem Wingra Corporation was organized in March. It is authorized to...
Homework: Chapter 14 Calculator Print liem Wingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of s1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 shares of preferred stock at $115 per share. Mar. 2 Issued 140,000 shares of common stock at S13 per share. Apr. 10 Issued 15,000 shares of...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the...
Tarrant Corporation was organized this year to operate a
financial consulting business. The charter authorized the following
stock: common stock, par value $13 per share, 12,900 shares
authorized. During the year, the following selected transactions
were completed:
a.
Sold and issued 6,500 shares of common stock for cash at $26
per share.
b.
Sold and issued 1,900 shares of common stock for cash at $31
per share.
c.
At year-end, the accounts reflected income of $8,000. No
dividends were declared....
A corporation is authorized by its corporate charter to issue 10,000 shares of preferred stock with...
A corporation is authorized by its corporate charter to issue 10,000 shares of preferred stock with a 7% dividend rate and a par value of $3 per share, and 25,000 shares of common stock with a par value of $1 per share. On January 15, 2015, 1,000 shares of preferred stock were issued for $7 per share along with 10,000 shares of common stock for $5.50 per share. How much would each account increase by for the issuance of the...
e dtakeAssig Calculator Par value Oa. represents the original selling price for a share of stock. Ob. is established for a share of stock after it is issued. Oc. is the monetary value assigned per share in the corporate charter Od. represents what a share of stock is worth.
Land Corporation reported the following: Common Stock, $5.00 par, 217,000 shares authorized, 178,000 shares issued $890,000 Paid in Capital in Excess of Par—Common 202,000 Retained Earnings 231,000 Total Stockholders' Equity $1,323,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $13.50 per share? OA. Paid - In Capital from Treasury Stock Transactions is credited for $190,000. OB. Treasury Stock-Common is debited for $540,000. OC. Common Stock-$5.00 Par...
Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value of $158. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa 821,600 Ob. 316,000 Oc. 63,200 Od. 252,800 When Wisconsin Corporation was formed on January 1, the corporate charter provided for 98,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,340 shares of stock at a price of $22...
When Wisconsin Corporation was formed on January 1, the corporate charter provided for 109,300 shares of $12 par value common stock. During its first month of operation, the corporation issued 8,750 shares of stock at a price of $29 per share. The entry to record the above transaction would include a Oa. credit to Paid-In Capital in Excess of Par-Common Stock for $148,750 Ob. credit to Common Stock for $253,750 Oc. debit to Cash for $105,000 Od. debit to Common...
1954873726473946058elSBN-97813373869998id-4389320168snapshotld Q Search this course Project Repat is classified as a(n) few people own shares of its stock. Oa. open corporation Ob. S corporation Oc. closed corporation Od. B corporation because only a Project Repat has a corporate charter. Which of the following would NOT likely be found in a corporate charter? Oa. The maximum amount of stock and types of stock to be issued 21 Skip Submit Answer
Calculator Michael Anderson is starting a computer programming business and has deposited an initial Investment of $15,000 into the business cash account Identify how the accounting equation will be affected. Oa. Increase in assets (Cash) and increase in owner's equity (Michael Anderson, Capital) Ob. Increase in assets (Accounts Receivable) and decrease in liabilities (Accounts Payable) Oc. Increase in assets (Cash) and increase in assets (Accounts Receivable) Od. Increase in assets (Cash) and increase in liabilities (Accounts Payable)
Land Corporation reported the following: Common Stock, $5.00 par, 208,000 shares authorized, 162,000 shares issued Paid in Capital in Excess of Par—Common Retained Earnings Total Stockholders' Equity $810,000 200,000 215,000 $1,225,000 Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $15.50 per share? O A. Paid – In Capital from Treasury Stock Transactions is credited for $430,000. OB. Retained Earnings is debited for $620,000. OC. Common Stock-$5.00...
Homework: Chapter 14 Calculator Print liem Wingra Corporation was organized in March. It is authorized to issue 600,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of s1 par value common stock. In its first year, the corporation has the following transactions: Mar. 1 Issued 10,000 shares of preferred stock at $115 per share. Mar. 2 Issued 140,000 shares of common stock at S13 per share. Apr. 10 Issued 15,000 shares of...
Tarrant Corporation was organized this year to operate a
financial consulting business. The charter authorized the following
stock: common stock, par value $13 per share, 12,900 shares
authorized. During the year, the following selected transactions
were completed:
a.
Sold and issued 6,500 shares of common stock for cash at $26
per share.
b.
Sold and issued 1,900 shares of common stock for cash at $31
per share.
c.
At year-end, the accounts reflected income of $8,000. No
dividends were declared....
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