Homework Answers
| ans 4 | ||
| a) Decrease stockholder equity and increase liabilities | ||
| entry is | ||
| Retained Earnings Dr | ||
| Stock dividend payable cr | ||
| Hence stockholder equity is reduced and liabilities is increased | ||
| ans 5 | ||
| Option D | ||
| As the stock is issued above par value so common stock | ||
| and paid incapital in excess of common stock will be credited | ||
| and shown as contributed capital on balance sheet | ||
| ans 6 | ||
| Treasury stock is buy back of shares issued hence it | ||
| decreases the outstanding no. of shares | ||
| Option D | ||
| ans 7 | ||
| Stockholder equity | ||
| Common stock A | 31000 | |
| Paid in capital in excess of par B | ||
| Retained Earnings C | $70,000 | |
| Total | ||
| as issue price image missing but the formula used will be above | ||
| In case it is $20 than the | ||
| Common stock A (31000*1) | 31000 | |
| Paid in capital in excess of par B (31000*19) | 589000 | |
| Retained Earnings C | $70,000 | |
| Total | 690000 | |
| I think it should be Option B $690000. As it cant be $70000 or $31000 | ||
| If any doubt please comment | ||
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he effects of the entry to record the declaration of the dividend on June 14, 2016...
16 Indicate the respective effects of the declaration of a cash dividend on balance sheet sections:...
16 Indicate the respective effects of the declaration of a cash dividend on balance sheet sections: Total Assets Total Liabilities Total Stockholders' Equity Increase Decrease No change b. No change Increase Decrease Decrease Increase Decrease Decrease No change a. C. d. Increase 17. Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2020. What is the annual dividend on the preferred stock?...
Winter 2019 Test: Sample Exam Questions- Chapter 13 This Question: 1 pt 15 of 33 Midiown,...
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this is the photo for the format he wants 2. Top of the World, Ltd, reported...
this is the photo for the format he wants
2. Top of the World, Ltd, reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock, So. Os par (10,000 shares issued and outstanding) 500 Additional paid in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of...
2. Top of the World, Ltd. reported the following summarized balance sheet at December 31, 2018:...
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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'...
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4. 5. 6.7. Kohler Corporation reports the following components of stockholders' equity on December 31, 2016:...
4.
5. 6.7.
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this is the photo for the format he wants
2. Top of the World, Ltd, reported the following summarized balance sheet at December 31, 2018: Assets: Current assets Property and equipment, net $40,400 89,000 Total assets $129.400 Liabilities: Liabilities $41,000 Stockholders' equity: Common stock, $0.02 par (100,000 shares issued and outstanding) 2,000 Preferred stock, So. Os par (10,000 shares issued and outstanding) 500 Additional paid in capital 68,500 Retained earnings 17,400 Total liabilities and equity $129.400 During 2019, Top of...
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please
answer all four multiple choice questions
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4.
5. 6.7.
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