30) If no-par stock is issued without a stated value, then A) the par value is automatically $1 per share. B) there is no legal capital. C) the entire proceeds are considered to be legal capital. D) the corporation is automatically in violation of its state charter.
Q: A company issued 1,000,000 shares of common stock. Of these 150,000 shares were held as treasury…
A: No. of shares issued means shares issued by the company including the shares purchased by the…
Q: Kuko company has an overdue 10% note payable to Filipino Bank amounting to P8,000,000 with accrued…
A: In this question, we need to calculate the gain on debt restructuring for which we need a) Current…
Q: The Adams Company, a merchandising firm, has budgeted its activity for November according to the…
A: The cash budget is prepared to record the cash receipts and cash payments during the period.
Q: CFAS Company had the following shareholders' equity on January 1, 2022: Preference share capital,…
A: Note: As per our guidelines, only the first three subparts will be answered. 1. Amount charged to…
Q: sset X has a beta of 1.7 and an expected return of 15.1%. Asset Y has a beta of .70 and an expected…
A: Let the total portfolio should of $ 1. Total portfolio = Investment in Asset X + Investment in…
Q: Lens Junction sells lenses for $44 each and is estimating sales of 15,000 units in January and…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: 28) Stockholders of a corporation directly elect A) the president of the corporation. corporation.…
A: Introduction: A stockholder is a person, business, or other entity who owns any quantity of a firm's…
Q: A and B realized that the partnership is hindering them from starting their respective families. Due…
A: Since, in the given case partners by themselves decided to fissolve the partnership. Thus, its a…
Q: Read the case study below and answer the questions that follow. Hendry Limited produces a…
A: Calculation of product costs under absorption costing: Direct materials 12.00…
Q: B. On January 1, 20X3, GG Co. purchased a new machine for P600,000. The machine had an es- timated…
A: Depreciation Expenses There are different method which are used to calculate the deprecation cost of…
Q: hich of the following is correct regarding the result of a cash disbursement cut-off rendered by an…
A: Cut-off arrangements are the precautions taken by the business entity to keep the business…
Q: True or False: Borrowing and repaying debt principal does not impact net worth. Select one: O True…
A: Introduction: The net worth of a firm is that the total of its assets minus its liabilities as…
Q: What's the cash balance at the end of the month?
A: Budgets are the mainly called the estimates made for future period of time. Cash budget is one of…
Q: On September 1, 2019, Tange company borrowed on a P5,400,000 note payable from a bank. The note…
A: An interest bearing note represents funds loaned by a lender to a borrower, on which interest is…
Q: ENcel ter ons P9-18. As the bookkeeper of Rose Company of Drumheller, you received the bank state-…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Lemuel bought bottles of food supplements at Php 1 800 each. He is planning to sell this at 15%…
A: In this question, we are required to calculate the quantity of bottles to be sold to be in break…
Q: In a liquidating distribution Ann receives cash of $3,000, inventory in which the partnership's…
A: A partnership is a type of business that is conducted by two or more partners who work together in…
Q: Prepare the journal entry(s) for the admission of IU to the partnership assuming IU invested…
A: Admission of a partner into the partnership business can be made by either the acceptance and…
Q: Net unrealized loss on foreign currency transaction 35,000 Net unrealized gain on translation…
A: Restricted earnings are amounts set aside to meet specific purpose but still forms part of…
Q: Identify which category of shareholder's equity is affected by each item and briefly explain how it
A: Shareholders equity is one of the important element of balance sheet of the business. It shows total…
Q: Allocating Joint Costs Using the Weighted Average Method Sunny Lane, Inc., purchases peaches from…
A: The question is related to allocation of Joint cost to product. Joint costs are the expenditures…
Q: On January 1, 2017, the llocos Norte Corporation purchased the business of its competitor in a…
A: Impairment of Assets It is important for the business entity to determine the impairment loss of the…
Q: Initially, a foreign currency transaction shall be recorded by applying The spot exchange rate at…
A: Foreign currency transaction are the transaction which conducted in a currency other than the local…
Q: A company reports the following information for its direct labor. Actual hours of direct labor used…
A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…
Q: True or False: Borrowing and repaying debt principal does not impact net worth. Select one: True…
A: Introduction: The net value of a firm is the total of its assets minus its liabilities as stated on…
Q: In translating a foreign subsidiary's financial statements, which exchange rates does the current…
A: Introduction:- As per U.S. GAAP the current rate method is required for translating (assets and…
Q: A company sold 8,000 units of its signature product for the calendar year ended December 31, 2020.…
A: The ending balance of Provision for warranty will be equal to beginning balance of Provision for…
Q: Independently considering each of the following statements regarding Form W-2 (Wage and Tax…
A: Answer:- W-2 form meaning:- A basic tax form that shows an employee's total salary earned and taxes…
Q: 1. A company received 3,000, P10 par ordinary shares from one of its shareholders. In the same year…
A: Donated capital refers to the assets provided to the entity as the gift, this amount is reported at…
Q: ITH THAT ANSWER
A: This question is related to the topic of basics of proof of cash and here there are multiple-choice…
Q: dger turo
A: Explanation of Concept Ledger Posting : is the step in the process of preparing the books accounts…
Q: Under Application Guidance 36 of IAS 32, an entity’s own equity instruments also known as treasury…
A: IAS 32 is providing guidance on classification of financial instruments as financial liabilities and…
Q: Michalleti Marketing Consulting Ltd issued Gh¢500million of zero-coupon bonds with ex-interest of…
A: The cost of debt is the amount of the cost which is required by the company to pay to the lenders of…
Q: The following information pertains to A Company: • Dividends on its 1,000 shares of 6%, $10 par…
A: An appropriation is a discretionary reclassification of retained earnings. Its purpose is to…
Q: irections: THE EVENTS COMMON TO THE ACCOUNTING FUNCTION OF A BUSINESS ENTITY ARE LISTED BELOW. ON…
A: Introduction:- An accounting cycle is a process of recording, identifying, and analyzing accounting…
Q: Show all the costs that would be classified as costs incurred during the research phase in terms of…
A: IAS - 38, Intangible assets state that the cost incurred for searching for a new or improved product…
Q: The information provided by ABC Manufacturing Corp. disclosed the following: INC
A: As per the provisions of BIR the corporate tax rate for domestic…
Q: what are the top 3 most important sources of revenues, and the top 3 most important sources of…
A: a. sales ( Accounts Receivable) b. interest on temporary investment c. other income ( supplies)
Q: What is the principle under the Corporation Law that allows the court to identify the erring…
A: Corporation means a large company and group of companies authorized to act as a single entity.
Q: Arthoney Ircis trial balance cortairs the fallowing balances: Cash $535 Accounts Payable $344…
A: Introduction: Trial Balance: All the final ledger accounts balances are posted in Trial balance to…
Q: X is indebted to the partnership for P10,000.00 and to the managing partner, Y, for P20,000.00. Y…
A: The answer for the multiple choice question and relevant explanation are presented hereunder : X is…
Q: MDS, Inc. owns 100% of PH Co. On January 5 of the current year, MDS sold machinery to PH at a gain.…
A: MDs owns 100% shares of PH, so gain on sale of machinery should be excluded in the consolidated…
Q: 26) The statement of cash flows will not report the A) uses of cash in the current period. B) amount…
A: The cash flow statement indicates the cash inflow and outflow transactions related to the…
Q: the lease liability be recognized at January 1, 2020, after making the first payment of P260,000 to…
A: Explanation of Concept "A person or a firm who gives asset on lease to another person or a firm…
Q: eceivable accounting to hi relating to accounts receival the year ended 31" Decemb s goods on RO…
A: A bad debt allowance is a valuation account used to estimate the number of receivables that may…
Q: explain each ratio of this list what happened in 2019, 2020, 2021? List Of Ratio 2019 2020 2021…
A: So Let First understand the Meaning of Above Ratio Current Ratio Its Depict the How Much Company's…
Q: Using the tables provided, the present value of $13,265.00 (rounded to the nearest dollar) to be…
A: Introduction:- Present Value Factor is used to calculate a present value of all the future value to…
Q: A corporation purchases 89000 shares of its own $30 par common stock for $47 per share, recording it…
A: Introduction: A share is a percentage of a company's ownership. You own a piece of the issuing firm…
Q: Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it…
A: Lets understand the basics. Cashflow statement is divided into three parts which are, (1) Cashflow…
Q: Exercise 14A-1 (Algo) Basic Present Value Concepts [LO14-7] Annual cash inflows that will arise from…
A: Present Value: Given a certain rate of return, the present value (PV) of a future amount of money or…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- all of the following are true about the issuance of non-voting common stock except a. it has been issued when the corporation wishes to raise capital through the sale of common stock but does not want to relinquish its voting control o b. it has been issued as a defense against an unfriendly takeover c it tends to result in the dilution of voting rights of current stockholders od. it tends to result in unequal voting rights among the shareholdersWhich of the following is not a characteristic of the commonstock of a large, publicly owned corporation?a. The shares may be transferred from one investor toanother without disrupting the continuity of businessoperations.b. Voting rights in the election of the board of directors.c. A cumulative right to receive dividends. d. After issuance, the market value of the stock is unre-lated to its par value.Which, if any, of the following items has no effect on the stock basis of an S corporation shareholder? Operating income. Long-term capital gain. Cost of goods sold. Short-term capital loss. The 20% QBI deduction.
- Which characteristic of a corporation limits a stockholder's loss to the amount of his or her investment in the stock of the corporation? 2. What does the term par value of stock mean? please list credible references for informationWhich of the following statements is CORRECT? a. The preferred stock of a given firm is generally less risky to investors than the same firm's common stock. b. Corporations cannot buy the preferred stocks of other corporations. c. Preferred dividends are not generally cumulative. d. A big advantage of preferred stock is that dividends on preferred stocks are tax deductible by the issuing corporation. e. Preferred stockholders have a priority over bondholders in the event of bankruptcy to the income, but not to the proceeds in a liquidation.Issued stock is defined as stock that ________. A. is available for sale B. that is held by the corporation C. has been sold to investors D. has no voting rights
- In applying the Sec. 318 attribution rules to a stock redemption, the stock of a corporation is only deemed to be proportionately owned by the shareholder when the shareholder owns more than 50% of the corporate stock. This statement is True, correct?The Standard requires every stock corporation to disclose the amount of unrestricted retained earnings equal to the cost of treasury shares, if there is any, but does not compel it to include the number of shares held in the treasury through the notes to financial statements. * a. True b. False6. These give the holders the privilege to purchase shares of stocks at a price lower than the prevailing market price of the shares upon the issuance of new shares. 7. The difference of if the issue price is less than the par or stated value of the share. 8. A corporation which has no share capital and where no part of its income is distributable as dividends to its members. 9. A private corporation tasked by the government to provide public service. 10. The SEC issues the certificate of incorporation after this document is filed and duly approved.
- Which of the following statements are true? Multiple select question. Since the par value represents the legal capital, it constitutes the most important characteristic of stock. Par value represents the purchase price of stock offered to executives and other premium investors. Many states allow corporations to issue no-par stock. To minimize the amount of assets that owners must maintain in the business,many corporations issue stock with very low par values.7. With regard to preferred shares, a.their issuance provides no flexibility to the issuing company because their terms always require mandatory dividend payments. b.their shareholders may have the right to participate, along with common shareholders, if a dividend is declared. c.no dividends are expected by the shareholders. d.there is a legal requirement for a corporation to declare a dividend on preferred shares.When a company holds between 20% and 50% of the outstanding stock of an investee, which of the following statements applies? The investor should use the equity method to account for its investment unless circumstances indicate that it is unable to exercise "significant influence" over the investee. The investor must use the fair value method unless it can clearly demonstrate the ability to exercise "significant influence" over the investee. The investor should always use the equity method to account for its investment. The investor should always use the fair value method to account for its investment.