ABC issues 11,000 shares of common stock to investors on January 1 for cash, with the investors paying cash of $24 per share. The par value of the stock is $1 per share.

What is the amount of total cash received?

Your Answer:

Question 2 (1 point)

On January 1st, ZYX company purchased 1,000 shares of its own stock at $29 per share. On January 20th, ZYX later reissues or sells 297 shares of treasury stock for $47 per share.

What is the amount debited to Treasury stock on January 1st?

Your Answer:

Question 3 (1 point)

ABC issues 18,000 shares of common stock to investors on January 1 for cash, with the investors paying cash of $26 per share. The par value of the stock is $1 per share.

What is the amount applied to common stock?

Your Answer:

Question 4 (1 point)

ABC issues 22,000 shares of preferred stock to investors on January 1 for cash. The 7% $18 par value preferred shares are sold $14 per share.

What is the amount applied to preferred stock?

Your Answer:

Question 5 (1 point)

On January 1st, ABC company issues a stock dividend of 7%. ABC has 118,000 shares outstanding with a par value of $5. ABC also has 220,000 shares authorized. The market price per share January 1st is $26.

What is number of new shares issued for stock dividend?

Your Answer:

Question 6 (1 point)

On January 1st, DEF company has 116,000 shares authorized, 96,000 shares issued and 82,000 shares outstanding. On January 1st, DEF declares a dividend of $8 to shareholders of record on January 15th. On February 1st, DEF will pay the dividend.

What is the amount of dividends paid on January 15th?

Your Answer:

Question 7 (1 point)

ABC issues 21,000 shares of preferred stock to investors on January 1 for cash. The 1% $5 par value preferred shares are sold $36 per share.

What is the amount applied to additional paid in capital preferred stock?

Your Answer:

Question 8 (1 point)

On January 1st, ZYX company purchased 1,200 shares of its own stock at $38 per share. On January 20th, ZYX later reissues or sells 285 shares of treasury stock for $41 per share.

What is the amount credited to Treasury stock on January 20th?

Your Answer:

Question 9 (1 point)

ABC has 340,000 authorized, 200,000 shares issued and 103,000 shares outstanding. ABC issues a 6/1 stock split (for every 1 share owned by an investor, the investor gets 6 shares). Sam has 150 shares of stock. After the stock split, how many shares of ABC stock does Sam have?

Your Answer:

Question 10 (1 point)

On January 1st, ZYX company purchased 1,500 shares of its own stock at $23 per share. On January 20th, ZYX later reissues or sells 193 shares of treasury stock for $16 per share. On January 20th, the balance in Additional paid in capital-Treasury stock is credit balance of $70,000.

What is the amount debited to Additional Paid in Capital- Treasury Stock on January 20th?

Your Answer:

Question 11 (1 point)

On January 1st, ZYX company purchased 1,200 shares of its own stock at $40 per share. On January 20th, ZYX later reissues or sells 124 shares of treasury stock for $16 per share. On January 20th, the balance in Additional paid in capital-Treasury stock is credit balance of $0.

What is the amount debited to Retained earnings on January 20th?

Your Answer:

Question 12 (1 point)

On January 1st, ABC company issues a stock dividend of 7%. ABC has 106,000 shares outstanding with a par value of $9. ABC also has 240,000 shares authorized. The market price per share January 1st is $33.

What is the dollar amount of the stock dividend?

Your Answer:

Question 13 (1 point)

On January 1st, DEF company has 122,000 shares authorized, 90,000 shares issued and 82,000 shares outstanding. On January 1st, DEF declares a dividend of $8 to shareholders of record on January 15th. On February 1st, DEF will pay the dividend.

What is the dollar amount of dividends declared on January 1st?

Your Answer:

Question 14 (1 point)

ABC issues 1,000 shares of common stock to investors on January 1 for cash, with the investors paying cash of $10 per share. The stated value of the stock is $1 per share.

What is the amount applied to common stock?

Your Answer:

Question 15 (1 point)

ABC issues 16,000 shares of common stock to investors on January 1 for cash, with the investors paying cash of $30 per share. The par value of the stock is $1 per share.

What is the amount applied to additional paid in capital?

Your Answer: Question 16 (1 point)

On January 1st, ZYX company purchased 1,400 shares of its own stock at $36 per share. On January 20th, ZYX later reissues or sells 441 shares of treasury stock for $44 per share.

What is the amount credited to Additional Paid in Capital-Treasury Stock on January 20th?

Your Answer:

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