Question
1. a company has 900 share of $61 par preferred stock. It also has 14,000 shares of common stock outstanding, and its total stockholders' equity
1. a company has 900 share of $61 par preferred stock. It also has 14,000 shares of common stock outstanding, and its total stockholders' equity equals 532,300. The book value per common share is
2. A corporation issued 6,000 shares of its $10 par value common stock in exchange for land that has a market value of $64,000. The entry to record this transaction would include:
3. Cool Sports has $140,000 of 8% noncumulative, nonparticipating, preferred stock outstanding. Cool Sports also has $540,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, Cool Sports paid cash dividends of $34,000. This dividend should be distributed as follows
4. a company declared a $0.55 per share cash dividend. The company has 210,000 shares authorized, 198,000 shares issued, and 8,000 shares in treasury stock. The journal entry to record the payment of the dividend is:
5. a company issued 16%, 15-year bonds with a par value of $1,100,000. The current market rate is 16%. The journal entry to record each semiannual interest payment is
6. An advantage of bond financing is: a. bonds do not affect owners control
b. interst on bonds is tax deductible
c. bonds can increase return on equity
d. it allows firms to trade on the equity
e. all the above
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