49.

Thompson Co. has 75,000 shares of $4 par value stock outstanding (total legal capital of $300,000). If Thompson splits the stock 2-for-1, what will be the total legal capital of all Thompson Co. shares after the split?

		a. $150,000
		b. $450,000
		c. $300,000
		d. $600,000

50.

A debit balance in Allowance for Uncollectible Accounts indicates that

		a. the actual amount of uncollectible accounts was less than the company estimated they would be
		b. the company uses the percent of credit sales method to allow for uncollectible accounts
		c. the actual amount of uncollectible accounts was more than the company estimated they would be

51.

At Johnson Co., the cost of goods available for sale during the period was $325,000. The total retail selling price for those goods was $500,000. The company had retail sales of $400,000 during the period. What is the estimated cost of the unsold (ending) inventory, using the retail estimation method?

		a. $75,000
		b. $185,000
		c. $65,000
		d. $175,000

52.

Assume that the total issue price for a $500,000 face-value bond issue with semi-annual interest payments has been correctly calculated to be $578,450. The market interest rate for bond issues of similar risk is 6%, compounded semi-annually. How much interest expense will accrue and be recorded at the end of the first 6 month period?

		a. $30,000.00
		b. $34,707.00
		c. $17,353.50
		d. $15,000.00