23 The articles of incorporation:Aset forth the number of shares of stock that can be issued.B.set forth the rules by which the corporation regulates its existence.C₁are amended annually by the company stockholders.D.can be used to remove company management.Ο ΑBосODO

The articles of incorporation refers to the formal documents which are filed by a company before…

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Cornerstones of Financial Accounting

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Author:Jay Rich, Jeff Jones

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Chapter10: Stockholder's Equity

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Problem 3MCQ: Authorized stock represents the: number of shares that are currently held by stockholders. number of...

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Authorized stock represents the: number of shares that are currently held by stockholders. number of shares that have been sold. number of shares that have been repurchased by the corporation. maximum number of shares that can be issued.
STOCK SUBSCRIPTIONS AND TREASURY STOCK Nash Roth formed a corporation and had the following organization costs and stock transactions during the year: June 30 Incurred the following costs of incorporation: Incorporation fees 800 Attorney's fees 9,000 Promotion fees 8,000 July 15 Issued 7,000 shares of 10 par common stock for 73,000 cash. Aug. 1 Received subscriptions for 8,000 shares of 10 par common stock for 81,500. 15 Issued 16,000 shares of 10 par common stock in exchange for a building and fixtures with a fair market value of 165,000. 31 Received a payment of 51,500 for the common stock subscription. Sept. 3 Purchased 2,000 shares of its own 10 par common stock for 11 a share. 18 Received the balance in full for the common stock subscription and issued the stock. 30 Sold 800 shares of its treasury stock for 11.50 a share. Oct. 15 Issued 3,000 shares of 40 par, 5% preferred stock in exchange for land with a fair market value of 125,000. 31 Sold 400 shares of its treasury stock for 10.75 a share. REQUIRED Prepare journal entries for these transactions.
H7. The charter of a corporation provides for the issuance of 147,000 shares of common stock. Assume that 55,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding? a. 43,500 b. 55,000 c. 147,000 d. 11,500 Please show all step by step calculation
2. The company is desirous of comparing several financial transactions and possible outcomes to assist in guiding its decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osbourne Corporation. The company’s charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. Issued 80,000 shares of common stock. Stock has par value of $0.50 per share and was issued at $30.00 per share. Issued 12,000 shares of preferred stock at par value as payment in exchange for legal services. Exchanged 220,000 shares of common stock for land with an appraised value of $600,000.00 and a building with an appraised value of $350,000.00 Earned Net income $820,000 Paid dividends to preferred shareholders as well as $2 per share to common stockholders. Using the info above and as a guide: A. Prepare the journal entries with narrations to record the following: The issuances of stock. Close out net…
64. The manner of voting in the election of the Board of Directors in a stock corporation may be done through: * A. Straight Voting Only B. Cumulative Voting Only C. Straight or Cumulative Voting at the option of the Stockholder D. Straight Voting if the stockholder owns up to 5,000 shares of stocks E. Cumulative Voting if the stockholder owns up to 50,000 shares of stock
Question Content Area The charter of a corporation provides for the issuance of 115,018 shares of common stock. Assume that 35,485 shares were originally issued and 3,170 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? a. $64,630 b. $35,485 c. $3,170 d. $115,018
The charter of a corporation provides for the issuance of 95,735 shares of common stock. Assume that 43,241 shares were originally issued and 3,458 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared? Select the correct answer. a-$43,241 b-$95,735 c-$3,458 d-$39,783
a. What is the Effective Annual Rate (EAR) and what is its purpose? b. The value of a share of common stock in a corporation is directly related to the general rights of shareholders, particularly as it applies to the right to vote for directors. Discuss at least four (4) additional rights that common shareholders have.

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23 The articles of incorporation: A set forth the number of shares of stock that can be issued. B. set forth the rules by which the corporation regulates its existence. Care amended annually by the company stockholders. D. can be used to remove company management. OA OB OC OD