XYZ Inc. issued 6,000 shares of $100 par value stock for $700,000 cash. The total amount of contributed capital in excess of par is: T100.000
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- During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b. Equipment was sold for 2,880. It had an original cost of 10,800 and a book value of 5,400. The loss is included in operating expenses. c. Land with a fair market value of 15,000 was acquired by issuing common stock with a par value of 3,600. d. One thousand shares of preferred stock (no par) were sold for 4.20 per share. Evans provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Evans Company.During 20X2, Norton Company had the following transactions: a. Cash dividends of 20,000 were paid. b. Equipment was sold for 9,600. It had an original cost of 36,000 and a book value of 18,000. The loss is included in operating expenses. c. Land with a fair market value of 50,000 was acquired by issuing common stock with a par value of 12,000. d. One thousand shares of preferred stock (no par) were sold for 14 per share. Norton provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Norton Company.A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150
- If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?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
- On April 2, West Company declared a cash dividend of $0.50 per share. There are 50,000 shares outstanding. What is the journal entry that should be recorded?A. Journalized the following transactions and prepare the Trail Balance:January, 2021 1 Pak Wheel corporation issued 10,000 shares of common stock of Rs5 par value and received Rs53,000 cash. The company then purchased back 900 shares out of those at Rs6 per share. The company then resold 500 shares from treasury stock at Rs6.50 per share. 3 Pak Wheel corporation Company A issued 100,000 shares of preferred stock of $30 par value against $1,000,000 in cash and $2,000,000 worth of property, plant and equipment. They carry dividend of $3 per share. 7 Pak Wheel corporation took over the assets of Rs 19,00,000 and liabilities of R 3,00,000 from Shah Ltd. for a purchase consideration of Rs15,19,000. Pak Wheel corporation issued a promissory note of Rs 17,000 payable after 60 days in favour of Shah Ltd. and the balance amount was paid by issue of equity shares of Rs 100 each at a premium of Rs 25 per share. 16 The owner takes Rs10000 of goods out of the business for his own use.A. Journalized the following transactions and prepare the Trail Balance:January, 2021 1 Pak Wheel corporation issued 10,000 shares of common stock of Rs5 par value and received Rs53,000 cash. The company then purchased back 900 shares out of those at Rs6 per share. The company then resold 500 shares from treasury stock at Rs6.50 per share. 3 Pak Wheel corporation Company A issued 100,000 shares of preferred stock of $30 par value against $1,000,000 in cash and $2,000,000 worth of property, plant and equipment. They carry dividend of $3 per share. 7 Pak Wheel corporation took over the assets of Rs 19,00,000 and liabilities of R 3,00,000 from Shah Ltd. for a purchase consideration of Rs15,19,000. Pak Wheel corporation issued a promissory note of Rs 17,000 payable after 60 days in favour of Shah Ltd. and the balance amount was paid by issue of equity shares of Rs 100 each at a premium of Rs 25 per share.
- Answer the following question correctly and show your Complete Solution (Given, Required, Equation, Solution, Answer). PERA Financial Institution declared a Php 35,000,000.00 dividend for the common stocks . If there are total of 200,000 shares of common stock , how much is the dividend per share ? A. Php 125.00 B. Php 175.00 C. Php 230.00 D. Php 350.00firm a had the following selected items on its balance sheer. cash $ 28,000,000 common stock($50 por 2,000,000 shares oustanding 100,000,000 additional paid-in capital 10,000,000 retained earnings 62,000,000 how would each of these accounts appear after a cash divinded of $1 per share? a 5 percent stock dividend(fair market value is $100 pers share)? a one for two reverse split?Firm A had the following selected items on its balance sheet: Cash $28,000,000 Common stock ($50par;2,000,000 shares outstanding $100,000,000 Additional paid-in-capital $10,000,000 Retained Earnings $62,000,000 How would each of these accounts appear after: A cash dividend of $1 per share? A 5 percent stock dividend (fair market value is $100 per share)? A one-for-two reverse split?
