Homework Answers
| 4 | |||
| Common Stock | 3500000 | ||
| Paid in Capital in excess of par-Common Stock | 550000 | ||
| Preferred Stock | 2000000 | ||
| Paid in Capital in excess of par-Preferred Stock | 400000 | ||
| Retained Earnings | 1500000 | ||
| Less: Treasury Common Stock | -150000 | ||
| Total Stockholders' Equity | 7800000 | ||
| Option A $7,800,000 is correct | |||
| 5 | |||
| The entry to record redemption is: | |||
| Debit | Credit | ||
| Bonds payable | 500000 | ||
| Loss on Bond Redemption | 28750 | ||
| Discount on Bonds payable | 18750 | =500000-481250 | |
| Cash | 510000 | =500000*1.02 | |
| Option B Credit of $18,750 to Discount on Bonds Payable is correct | |||
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Use the following to answer question 4: Presented below is information related to Ha Common Stock,...
Use the following to answer question 4: Presented below is information related to Hal Common Stock, S1 par Paid-i...
Use the following to answer question 4: Presented below is information related to Hal Common Stock, S1 par Paid-in Capital in Excess of Par-Common Stock Preferred 8 1/2% Stock, S50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) related to Hale Corporation: $3,500,000 550,000 2,000,000 400,000 1,500,000 150,000 on is 4. The total stockholders' equity of Hale Corporation is A) $7,800,000. B) $7,950,000. C) $6,300,000. D) $6,450,000. 5. Kant Corporation retires its $500,000...
Use the following to ansswer question 4: Presented below is information related to Hale Corporation: Common Stock,...
Use the following to ansswer question 4: Presented below is information related to Hale Corporation: Common Stock, $1 par Paid-in Capital in Excess of Par-Common Stock Preferred 8 1/2% Stock, S50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) $3,500,000 550,000 2,000,000 400,000 1,500,000 150,000 4. The total stockholders' equity of Hale Corporation is A) $7,800,000. B) $7,950,000. C) $6,300,00o. D) $6,450,000. 5. Kant Corporation retires its $500,000 face value bonds at 102...
Presented below is information related to Hale Corpora Common Stock, $1 par $3,500,000 Paid-in Capital in...
Presented below is information related to Hale Corpora Common Stock, $1 par $3,500,000 Paid-in Capital in Excess of Par-Common Stock 550,000 Preferred 8 1/2% Stock, $50 par 2,000,000 Paid-in Capital in Excess of Par-Preferred Stock 400,000 Retained Earnings 1,500,000 Treasury Common Stock (at cost) 150,000 Accumulated Other Comprehensive Income (Unrealized losses) 100,000 600 N The total stockholders' equity of Hale Corporation is Select one: O a. $6,300,000 b. $7,800,000 c. 7,900,000 d. $7,950,000 e. The correct answer is not listed....
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...
Please show work (answer of paid-in capital excess of par-common stock is not 1188 and paid-in...
Please show work (answer of paid-in capital excess of par-common
stock is not 1188 and paid-in capital excess of par-preferred stock
is not 1635)
Coronado Corporation's charter authorized issuance of 91,000 shares of $10 par value common stock and 53,700 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,500, 9% bond payable at par and gave as a bonus one share...
1- The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10...
1- The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding $100,000 Paid-in capital in excess of par value, common stock 50,000 Retained earnings 25,000 Treasury stock 11,500 Assuming the treasury shares were all purchased at the same price, the cost per share of the treasury stock is: Multiple Choice $1.15. $1.28. $11.50. $10.50. $10.00. 2- Comfort Mattresses, Inc. sold 26,000 shares of...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnin...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnings $105,810. In 2015, the company had the following treasury stock transactions Mar. 1 Purchased 6,690 shares at $8 per share. June 1 Sold 1,240 shares at $12 per share. Sept.1 Sold 1,870 shares at $10 per share Dec. 1 Sold 1,060 shares at $6 per share Fechter Corporation uses the cost method...
Presented below is information related to the Andrews Company for 2018. Use this information to compute...
Presented below is information related to the Andrews Company for 2018. Use this information to compute basic and diluted EPS for 2018 Net Income was $780,000 Tax rate was 30% Average market price of common stock was S30 Capital Structure: * Cumulative 10% preferred stock, $100 par, 500 shares issued and outstanding. Preferred stock can be converted into common stock at a ratio of 4 shares of common for one share of preferred. .$10 par common stock, 66,000 shares outstanding...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Pina Corp. issued $12,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $13,500,000. The present value of the bond payments at the time of issuance was $10,625,000, and the corporation believes the difference between...
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...
Use the following to answer question 4: Presented below is information related to Hal Common Stock, S1 par Paid-in Capital in Excess of Par-Common Stock Preferred 8 1/2% Stock, S50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) related to Hale Corporation: $3,500,000 550,000 2,000,000 400,000 1,500,000 150,000 on is 4. The total stockholders' equity of Hale Corporation is A) $7,800,000. B) $7,950,000. C) $6,300,000. D) $6,450,000. 5. Kant Corporation retires its $500,000...
Use the following to ansswer question 4: Presented below is information related to Hale Corporation: Common Stock, $1 par Paid-in Capital in Excess of Par-Common Stock Preferred 8 1/2% Stock, S50 par Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Common Stock (at cost) $3,500,000 550,000 2,000,000 400,000 1,500,000 150,000 4. The total stockholders' equity of Hale Corporation is A) $7,800,000. B) $7,950,000. C) $6,300,00o. D) $6,450,000. 5. Kant Corporation retires its $500,000 face value bonds at 102...
Presented below is information related to Hale Corpora Common Stock, $1 par $3,500,000 Paid-in Capital in Excess of Par-Common Stock 550,000 Preferred 8 1/2% Stock, $50 par 2,000,000 Paid-in Capital in Excess of Par-Preferred Stock 400,000 Retained Earnings 1,500,000 Treasury Common Stock (at cost) 150,000 Accumulated Other Comprehensive Income (Unrealized losses) 100,000 600 N The total stockholders' equity of Hale Corporation is Select one: O a. $6,300,000 b. $7,800,000 c. 7,900,000 d. $7,950,000 e. The correct answer is not listed....
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...
Please show work (answer of paid-in capital excess of par-common
stock is not 1188 and paid-in capital excess of par-preferred stock
is not 1635)
Coronado Corporation's charter authorized issuance of 91,000 shares of $10 par value common stock and 53,700 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,500, 9% bond payable at par and gave as a bonus one share...
Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,200, Paid-in Capital in Excess of Par-Common Stock $177,810, and Retained Earnings $105,810. In 2015, the company had the following treasury stock transactions Mar. 1 Purchased 6,690 shares at $8 per share. June 1 Sold 1,240 shares at $12 per share. Sept.1 Sold 1,870 shares at $10 per share Dec. 1 Sold 1,060 shares at $6 per share Fechter Corporation uses the cost method...
Presented below is information related to the Andrews Company for 2018. Use this information to compute basic and diluted EPS for 2018 Net Income was $780,000 Tax rate was 30% Average market price of common stock was S30 Capital Structure: * Cumulative 10% preferred stock, $100 par, 500 shares issued and outstanding. Preferred stock can be converted into common stock at a ratio of 4 shares of common for one share of preferred. .$10 par common stock, 66,000 shares outstanding...
Exercise 16-4 On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Pina Corp. issued $12,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $13,500,000. The present value of the bond payments at the time of issuance was $10,625,000, and the corporation believes the difference between...
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...
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