1 Not yet answered Points out of 4.00 Flag question Rodeo Company issues $1,000,000 face value, 8%, 5-year bond on January 1, 2021. Interest is paid semiannually each June 30 and December 31. The bonds sell at a price of 95; Rodeo uses the straight-line method of amortizing bond discount or premium. Answer (i) through (iv) based on the above information: (i). The net carrying value of the bond reported in the Company's financial statements at the time of issuance will be: Select one: O a. $1,000,000. b. $1,050,000. c. $950,000. Od. $1,080,000. Next page Question 10 Not yet answered Points out of 4.00 During Year 2, the cash flows related to Global Data, Incorporated's lending and borrowing activities are summarized as follows: Cash lent to borrowers Payment to retire bonds payable $132,600 $367,500 question Proceeds from borrowing at bank (note payable)$ 220,500 Interest received from borrowers $31,500 Interest payments made on bonds payable $ 42,000 On the basis of the above information alone, what is Global Data's net cash flow from financing activities? Select one: 0 a. $500,100 net cash used for financing activities O b. $145,500 net cash used for financing activities O c. $206,100 net cash used for financing activities d. $147,000 net cash used for financing activities Question 12 Not yet answered Points out of 2.00 Flag question Which of the following has NO effect on the computation of earnings per share for the current period? Select one: Oa. All dividends declared, paid or distributed O b. The amount of cash dividends declared or paid to common stockholders Previous page c. The amount of cash dividends declared or paid to preferred stockholders. 0 d. The amount of stock dividends declared or distributed to common stockholders Next page stion 13 yet swered points out of 4.00 P Flag question On April 1, 2020, Executives, Inc. purchased furniture and equipment with a four-year useful life for $150,000. Executives, Inc. uses the straight-line method of depreciation and has no estimated salvage value for these assets. On November 30, Executives sold this furniture and equipment and recorded a loss on sale of $10,000. What will Executives record as the proceeds from this transaction in the statement of cash flows? Select one: a. $150,000 O b. $115,000 Previous page 0 c. $135,000 Od $140,000 Next page Question 17 Not yet answered Points out of 4.00 P Flag Question Landon Corporation has 80,000 shares of $1 par value common stock and 20,000 shares of cumulative 5%, $100 par preferred stock outstanding. Landon has not paid a dividend for the prior year. If Landon declares a $1.25 per common share dividend this year, what will be the total amount they must pay to all of their shareholders? Select one: Previous page O a $300,000 O b. $125,000 c. $100,000 Od. $200,000 Next page Question 18 Not yet answered Points out of Shown below is information relating to the stockholders' equity of Conway Corporation at December 31, Answer (i) through (vii) based on the table below: 6% cumulative preferred stock, $100 par, 50,000 shares authorized $400,000 4.00 P Flag Common stock, $4.55 par, 40,000 shares authorized; 30,800 question shares $140,000 issued and outstanding Additional paid-in capital: preferred stock $100,000 Additional paid-in capital: common stock $1,400,000 Retained earnings $120,000 (i). What is the legal capital? Select one: 0 a $540,000. 0 b. $2,160,000. c. $2,040,000. Od. $660,000. estion 21 Not yet answered Points out of 4.00 Flag question Rodeo Company issues $1,000,000 face value, 8%, 5-year bond on January 1, 2021. Interest is paid semiannually each June 30 and December 31. The bonds sell at a price of 95; Rodeo uses the straight-line method of amortizing bond discount or premium. Answer (i) through (iv) based on the above information: (ii). Interest expense recorded in the financial statements of Rodeo for the period ended at June 30, 2021 will be: Select one: a. $45,000. Previous page O b. $80,000. 0 c. $35,000. d. $40,000. Next page Question 23 Not yet answered Points out of 4.00 Flag question Shown below is information relating to the stockholders' equity of Conway Corporation at December 31, 2020. Answer (i) through (vii) based on the table below: 6% cumulative preferred stock, $100 par, 50,000 shares authorized Common stock, $4.55 par, 40,000 shares authorized; 30,800 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings (iii). What is total paid-in capital? Select one: a. $2,160,000 O b. $660,000 c. $2,040,000. d. $540,000. $400,000 $140,000 $100,000 $1,400,000 $120,000 Question 25 Not yet answered Points out of 4.00 Flag question Shown below is information relating to the stockholders' equity of Conway Corporation at December 31, 2020. Answer (i) through (vii) based on the table below: 6% cumulative preferred stock, $100 par, 50,000 shares authorized Common stock, $4.55 par, 40,000 shares authorized; 30,800 shares issued and outstanding Additional paid-in capital: preferred stock $400,000 $140,000 $100,000 $1,400,000 $120,000 Additional paid-in capital: common stock Retained earnings (ii). How many shares of preferred stock are issued and outstanding? Select one: a. 4,000 shares. b. 50,000 shares. c. 5,000 shares. O d. 400,000 shares. Question 26 Not yet answered Points out of 4.00 Flag question Rodeo Company issues $1,000,000 face value, 8%, 5-year bond on January 1, 2021. Interest is paid semiannually each June 30 and December 31. The bonds sell at a price of 95; Rodeo uses the straight-line method of amortizing bond discount or premium. Answer (i) through (iv) based on the above information: (iv). Before payment, the net carrying value of the bond in Rodeo's December 31, 2025, financial statements will be (rounded to the nearest thousands $): Select one: a. $1,000,000. Previous page b. $1,080,000. c. $1,050,000. d. $950,000. Next page Question 29 Not yet answered Points out of 4,00 Flag question On June 17, 2020, Stanley Corporation reacquired 2,000 shares of its own $5 par stock for $60,000 cash. On December 23, 2020, 600 of the treasury shares were reissued at a price of $40 per share. Answer (i) and (ii) using the above information: (ii). As a result of the reissuance of 600 shares of stock on December 23, Stanley will record a: Select one: a. Credit to Treasury Stock Reissued of $24,000. b. Credit to Additional Paid-In Capital: Treasury Stock Transactions of $6,000. c. Credit to Gain on Treasury Stock Transactions of $6,000. d. Credit to Common Stock of $3,000. Previous page Next page ACC TOT-006 - Fall 2020: Principles of Accounting I Question 30 Not yel answered Points out of 4.00 Shown below is information relating to the stockholders' equity of Conway Corporation at December 31, 2020. Answer (i) through (vii) based on the table below: 6% cumulative preferred stock, $100 par, 50,000 shares authorized $400,000 Common stock, $4.55 par, 40,000 shares authorized; 30,800 question shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock $140,000 $100,000 $1,400,000 Retained earnings (iv). What was the average issue price per share of common stock? $120,000 Select one: a. $50.00 per share. b. $4.55 per share. c. $3.50 per share. d. $38.50 per share. Question 33 Not yet answered Points out of 4.00 Flag question On June 17, 2020, Stanley Corporation reacquired 2,000 shares of its own $5 par stock for $60,000 cash. On December 23, 2020, 600 of the treasury shares were reissued at a price of $40 per share. Answer (i) and (ii) using the above information: (i). As a result of the reacquisition of the 2,000 shares on June 17, 2020, Stanley: Select one: a. Will NOT record any change in total assets. b. Will record a reduction in total assets and in total stockholders' equity. c. Has violated stock buyback provisions of the Securities & Exchange Commission. d. Will record a new asset, "Treasury Stock", for $60,000. Previous page Next page Question 35 Not yet answered Points out of 4.00 Flag question Shown below is information relating to the stockholders' equity of Conway Corporation at December 31, 2C Answer (i) through (vii) based on the table below: 6% cumulative preferred stock, $100 par, 50,000 shares authorized Common stock, $4.55 par, 40,000 shares authorized; 30,800 shares issued and outstanding Additional paid-in capital: preferred stock Additional paid-in capital: common stock Retained earnings (v). Total stockholders' equity is: Select one: a. $2,040,000. b. $2,160,000. c. $540,000. Od. $660,000. $400,000 $140,000 $100,000 $1,400,000 $120,000 Question 36 Not yet answered Points out of 2.00 Flag question Assuming there are no dividends in arrears, book value per share is derived by which of the following: Select one: 0 a. (Stockholders' equity minus preferred stock) divided by the number of common shares outstanding. b. Stockholders' equity divided by the number of common and preferred shares outstanding. Previous page c. (Stockholders' equity minus preferred stock) divided by the number of common and preferred shares outstanding. d. Stockholders' equity divided by the number of common shares outstanding. Next page Question 38 Not yet answered Points out of 2.00 Flag question On January 1, Juniper Corporation issued 60,000 shares of its $5 par value common stock for $10 per share. On December 31, Juniper Corporation's common stock was trading at $15 per share. Assuming Juniper Corporation did not issue any other common stock, how does the increase in the market value of its outstanding stock affect Juniper? Select one: a. Paid-in capital at December 31, is $900,000 (ie., 60,000 shares times $15 per share). b. Juniper should recognize additional net income for Year 1 of $5 per share, or $300,000 c. Each shareholder must pay an additional $5 per share to Juniper Od. This increase in market value of outstanding stock is not recorded in the financial statements of Juniper Corporation Previous page Next page