Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer both questions Question 16 The following data is available for Metlock, Inc. at December 31, 2020: Common stock, par $10 (authorized 26000 shares) $234000

answer both questions image text in transcribed
image text in transcribed
Question 16 The following data is available for Metlock, Inc. at December 31, 2020: Common stock, par $10 (authorized 26000 shares) $234000 Treasury stock (at cost $15 per share) $1200 Based on the data, how many shares of common stock are outstanding? O 26000 O 25920. 23320 23400. Question 17 Cheyenne Corp. lends Flounder industries $44400 on August 1, 2022, accepting a 9-month, 6% Interest note. If Cheyenne Corp. prepares its financial statements as of December 31, 2022, what adjusting entry must it make? O Notes Receivable 1110 Interest Revenue 1110 1110 1110 Interest Receivable Interest Revenue Cash Interest Revenue 1110 1110 1110 Accounts Receivable Interest Receivable

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Standards On Auditing For Ca Students

Authors: Anshul Mittal

1st Edition

8182964962, 978-8182964969

More Books

Students also viewed these Accounting questions

Question

My opinions/suggestions are valued.

Answered: 1 week ago