A corporation is authorized to issue 15,000 ordinary shares with a par value of P 100 per share. 11,000 shares are issued and 1,000 of which are in the treasury. How many shares are outstanding (shares entitled to receive dividends)? Choices; 1,000 10,000 11,000 15,000

A corporation is authorized to issue 15,000 ordinary shares with a par value of P 100 per share. 11,000 shares are issued and 1,000 of which are in the treasury. How many shares are outstanding (shares entitled to receive dividends)? Choices; 1,000 10,000 11,000 15,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 3PB: Autumn Corporation was organized in August. It is authorized to issue 100,000 shares of $100 par...

See similar textbooks

Related questions

Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the first…

A: The balance sheet is one of the financial statement of the business which tells about the financial…

Q: a. What value should be assigned to the ending inventory using FIFO? b. What value should be…

A: FIFO method: Under this method of inventory valuation, it is assumed that item of inventory…

Q: legal life of the patent is 15 years but the useful life is successfully defending the patent in an…

A: If a competing patent is acquired to protect an original patent. The cost of the new patent and the…

Q: 5. The long-term debt section of Holt Company's statement of financial position on December 31, 2010…

A: Bond Valuation

Q: Required: Schedule of Profit Distribútion at the end of the period. nment 17 -5 Lucas Lara IV and…

A: The partnership comes into existence when two or more persons agree to do the business and share…

Q: Part 2 Accounting Terminology. For each of the following statements, indicate the term described. a.…

A: Since you have posted question with multiple sub-parts, we will do the first three sub-parts for…

Q: 1. Which of the following statements is true about an intemational business? An international…

A: Here, Any Organization starts it's international business which have - trade barriers - Tariff…

Q: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the…

A: 1. Allocation of total cost among the three assets:- Date Appraised Value Percent of Total…

Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of…

A: Statement of Owner's Equity - Statement of owner's equity includes amount contributed by the owner…

Q: 1- The small capital base of banks makes them sensitive to negative earn True False

A: Basic Concept of Banking

Q: Question 2: How much of each product should be produced to maximize net operating income? Holton…

A: Net operating income (NOI) is a statistic used to determine the feasibility of revenue-generating…

Q: Following information is given for NizCol LLCa small firm situated in Nizwa: All figures are in OMR…

A: The current ratio is the amount of income that measures a company's ability to pay short-term…

Q: Which of the following is true regarding the banning of mandatory retirement? It reduces the…

A: Retirement is the stage when a person stops working, different companies has set different ages of…

Q: Sand Company provided the following dats at eurrent year-end Pelerence share caital. Po par. 000 ha…

A: The capital structure of the company is divided into two shares; preference and common or ordinary…

Q: Required information Learning Objective 11-04 Calculate the periodic amortization intangible asset.…

A: Amortization is an accounting approach for lowering the book value of a loan or intangible asset…

Q: the activity for one of the products of Random Creations: ance, 80 units sse $4,00e 40 units $51 40…

A: Date Units Rate Total 01-Jan 80 $ 50.00 $ 4,000 18-Jan 40 $ 51.00 $ 2,040…

Q: What is the maximum depreciation in 2021 for an automobile driven 100% for business that was…

A: For the passenger automobiles, the maximum depreciation will be $10,200 when no bonus depreciation…

Q: Required: 1) Given the different market interest rates below, calculate the following items.…

A: A bond is selling at a discount if its selling price is less than its face value and will be trading…

Q: Jerry sprayed ury Losses: with a pesticide in June 2021. Shortly thereafter, all of the trees and…

A: Claim refers to the amount one receives after an incident which occurs.The payee to that person is…

Q: A) How much would you have to spend to buy one share of stock using the warrants? Round answers to…

A: Share warrant is the warrant which the holder gives the right and option to purchase the shares of…

Q: 25. Calculate the amount of corporate income tax due and the net income after taxes (in $) for the…

A: Formula: Net income after taxes = Taxable income - Tax liability

Q: Required information [The following information applies to the questions displayed below.] Timberly…

A: Depreciation expense=Cost of Asset-Salvage ValueUseful Life

Q: b. Compute he diIount Ul UIC CUJL c. Compute the amount of direct labor costs assigned to…

A: Cost of goods manufactured = Beginning WIP + total manufacturing costs incurred during the year -…

Q: Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.7 hours @ $13.00 per hour) Overhead…

A: Direct labor variance Total is the sum of direct labor rate variance and direct labor efficiency…

Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of…

A: Statement of owner's equity indicates the investor balance after adding up net income and deducting…

Q: Champion Contractors completed the following transactions involving equipment. Year 1 Paid $314,000…

A: Formulas that are used :-

Q: The owners of Rainier Company are planning to sell the business to new interests. The cumulative net…

A: Answer is option B0 14,000,000

Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of…

A: A balance sheet is a financial statement that shows the assets, liabilities, and shareholder equity…

Q: Donald Electronics an electronics repair shop, prepared the unadjusted trial balance at the end of…

A: Income Statement Revenues: Fees Earned 139,275 Total Revenues 139,275…

Q: Antuan Company set the following standard costs per unit for its product. $ 12.00 Direct materials…

A: When the actual price is higher than the standard price the price variance is unfavorable .…

Q: rregular transactions such as discontinued operations s

A: Single step income statement is generally used by the small businesses like…

Q: 5. Platinum Trophy collects 25% of its sales on account in the month of the sale and 75% in the…

A: A budget is a forecast of revenue and expenses for a certain future period of time that is generally…

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: Under LIFO Method, using perpetual inventory system, value of ending inventory is calculated on the…

Q: True or False. 1. If the amount of the bond payable is fully paid, together with the interest, the…

A: Equity financing refers to raising money from the investors and give ownership to the equity…

Q: onsider an economy facing a recessionary gap in the short-run. Expansionary fiscal policy leads to…

A: Basic Concept related to of the state of market and its correction

Q: Sherley Garci is fascinated by Capital Budgeting. However, she is not clear about the following…

A: DEFINATION OF MUTUALLY EXCLUSIVE PROJECT METHOD OF RANKING FOR MUTUALLY EXCLUSIVE PROJECTS

Q: During its first year of operations, Sheridan Company had credit sales of $3,596,600; $660,700…

A: Net realizable value of accounts receivable = Ending Accounts Receivable balance - Allowance for…

Q: PROBLEM 4: MULTIPLE CHOICE-COMPUTATIONAL 1. In preparing its August 31, 2004 bank reconciliation,…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Provide an explanation of whether it is advantageous for a bank to classify debt investments as…

A: ANSWER Provide an explanation of whether it is advantageous for a bank to classify debt…

Q: Consider the market for coffee. If more firms enter into that market then Question 17 options:…

A: Demand and supplier considered important concept in economics. where is inverse relation between the…

Q: . Auditor

A: Management should address written representation about a firm's annual Audit to the

Q: The company purchased the equipment on October 1, 20X1 for $100,000, and estimated that the…

A: Depreciation accounting

Q: 51. The sale of interest of the retiring partner to the remaining partner will.require recognition…

Q: Discuss transaction cycles.

A: A transaction cycle is an interlocking set of the business deals. Utmost of these deals can be…

Q: Krumple Inc. produces aluminum cans. Production of 12-ounce cans has a standard unit quantity of 4.6…

A: Answer) Calculation of Total Variance for Aluminium Total Variance for Aluminium = Standard cost of…

Q: An engineering company was awarded a project with an original budget of 250,000 hours, valued at…

A: Hours earned of a project will always be decided and calculated on the basis of the percentage of…

Q: 1. Costs to install necessary lighting in a new building. 2. Costs to clear and grade land purchased…

Q: R 116 Selling price (per unit) Units in opening inventory 600 Units manufactured 2 550 Units sold 3…

A: Marginal Costing - In this costing method, variable costs are considered while preparing the cost of…

Q: Kerr Manufacturing sells a single product with a selling price of S600 with variable costs per unit…

A: Contribution margin = Selling price - Variable Cost

Q: A company deposits $70,000 in savings account today. The company intends to leave the money in the…

A: Future value = Present Value X Future value factor at 5% for required number of years $ 125,000 = $…

Question

Choices;

1,000

10,000

11,000

15,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

MacKenzie Mining Corporation is authorized to issue 50,000 shares of $500 par value 7% preferred stock. It is also authorized to issue 5,000,000 shares of $3 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.
Copper Corporation was organized in May. It is authorized to issue 50,000,000 shares of $200 par value 7% preferred stock. It is also authorized to issue 75,000,000 shares of $5 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.
A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cash
Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.
The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares: 25,000 Treasury shares: 5,000 How many shares are outstanding?
Wingra Corporation was organized in March. It is authorized to issue 500,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.
Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par value common stock at 15 per share (400,000 shares were authorized). During the period January 1, 2014, through December 31, 2019, Kent reported net income of 750,000 and paid cash dividends of 380,000. On January 5, 2019, Kent purchased 12,000 shares of its common stock at 12 per share. On December 28, 2019, 8,000 treasury shares were sold at 8 per share. Kent used the cost method of accounting for treasury shares. What is Kents total shareholders equity as of December 31, 2019? a. 3,290,000 b. 3,306,000 c. 3,338,000 d. 3,370,000
St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and 5,000,000 shares of $1 stated value common stock. During the year, the company has the following transactions: Journalize the transactions.
Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first year, the company has the following transaction: Mar. 1, issued 40,000 shares of preferred stock at $20.50 per share. Journalize the transaction.
Autumn Corporation was organized in August. It is authorized to issue 100,000 shares of $100 par value 7% preferred stock. It is also authorized to issue 500,000 shares of $5 par value common stock. During the year, the corporation had the following transactions: Journalize the transactions.
Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue 3,000,000 shares of $40 par value 9% preferred stock. It is also authorized to issue 3,750,000 shares of $2 par value common stock. In its fifth year, the corporation has the following transactions: Journalize the transactions.
EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Journalize the transactions.