ACTY 2100 Principles of Accounting! Final Exam Review questions (not intended to cover every single item on exam) Review #4 Due: Wednesday, Dec 4th (beginning of class) 4. Record the first interest payment on June 30, 2018 if the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018, Account Debit Credit Date 16/10/18 5. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018. Account Debit Credit Date 1/1/18 6. Record the first interest payment on June 30, 2018 if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018. Account Debit Credit Date 16/30/18 2 Mason, CPA MSA Final Exam Review questions (not intended to cover every single item on exam Due: Wednesday, Dec 4th (beginning of class) 1b. On January 1, 2018. a company issues 1 000 shares of $1 par value common stock for $20 per share. The journal entry to record this issuance would be: Account Debit Credit Date 1/1/18 17. On January 1, 2018, a company issues 1.000 shares of no-par value common stock for $20 per share. The journal entry to record this issuance would be: Credit Debit Account Date 1/1/18 18. The corporation's own stock that has been issued and then repurchased by the company it referred to as: A. Preferred Stock B. Authorized Stock. Treasury Stock D. Common Stock 19. On February 1, 2019, a company acquires 1,000 shares of its own $1 par common stock for $1 per share. Record this purchase. Account Debit Credit Date 2/1/19 5 Mason, CPA MSA CTY 2100 Principles of Accounting nal Exam Review questions (not intended to cover every single item on exam) Review #4 Due: Wednesday, Dec 4th (beginning of class) 20. On June 1, 2019, the board of directors of Capstone Inc, declared a $0.60 per share cash dividend on its $1 par common stock, with the date of record of June 15, to be paid on June 30th On the date of declaration, there were 50,000 shares authorized, 20.000 shares issued, and 5,000 shares held as treasury stock. What is the entry when the dividends are declared? Account Debit Date G1/11 Credit 21. On June 1, 2019, the board of directors of Capstone Inc, declared a $0.60 per share cash dividend on its $1 par common stock, with the date of record of June 15, to be paid on June 30 On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. On June 30, what is the entry to record the payment of cash dividends? Account Debit Credit Date 16/18/19 ason, CPA MSA ACTY 2100 Principles of Accounting! Final Exam Review questions (not intended to cover every single item on exam) Review #4 Due: Wednesday, Dec 4th (beginning of class) 4. Record the first interest payment on June 30, 2018 if the market interest rate for bonds of similar risk and maturity is 8%, and they were issued for $74,564 on January 1, 2018, Account Debit Credit Date 16/10/18 5. Record the bond issue if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018. Account Debit Credit Date 1/1/18 6. Record the first interest payment on June 30, 2018 if the market interest rate for bonds of similar risk and maturity is 6%, and they were issued for $85,951 on January 1, 2018. Account Debit Credit Date 16/30/18 2 Mason, CPA MSA Final Exam Review questions (not intended to cover every single item on exam Due: Wednesday, Dec 4th (beginning of class) 1b. On January 1, 2018. a company issues 1 000 shares of $1 par value common stock for $20 per share. The journal entry to record this issuance would be: Account Debit Credit Date 1/1/18 17. On January 1, 2018, a company issues 1.000 shares of no-par value common stock for $20 per share. The journal entry to record this issuance would be: Credit Debit Account Date 1/1/18 18. The corporation's own stock that has been issued and then repurchased by the company it referred to as: A. Preferred Stock B. Authorized Stock. Treasury Stock D. Common Stock 19. On February 1, 2019, a company acquires 1,000 shares of its own $1 par common stock for $1 per share. Record this purchase. Account Debit Credit Date 2/1/19 5 Mason, CPA MSA CTY 2100 Principles of Accounting nal Exam Review questions (not intended to cover every single item on exam) Review #4 Due: Wednesday, Dec 4th (beginning of class) 20. On June 1, 2019, the board of directors of Capstone Inc, declared a $0.60 per share cash dividend on its $1 par common stock, with the date of record of June 15, to be paid on June 30th On the date of declaration, there were 50,000 shares authorized, 20.000 shares issued, and 5,000 shares held as treasury stock. What is the entry when the dividends are declared? Account Debit Date G1/11 Credit 21. On June 1, 2019, the board of directors of Capstone Inc, declared a $0.60 per share cash dividend on its $1 par common stock, with the date of record of June 15, to be paid on June 30 On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 5,000 shares held as treasury stock. On June 30, what is the entry to record the payment of cash dividends? Account Debit Credit Date 16/18/19 ason, CPA MSA