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Art, Inc., has 2,500 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding from December

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Art, Inc., has 2,500 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding from December 31, 2018 through December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $22,500 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? A. $7,500 B. $12,500 C. $22,500 D. $0 On January 1, Ecuyer Corporation had 1,600,000 shares of $10 par value common stock outstanding. On March 31, the company declared a 15% stock dividend. Market value of the stock was $15/share. As a result of this event, A. Ecuyer's Paid-in Capital in Excess of Par account increased $1,200,000. B. Ecuyer's total stockholders' equity was unaffected. C. Ecuyer's Stock Dividends account increased $3,600,000. D. All of these answer choices are correct. The current carrying value of Laile's $800,000 face value bonds is $797,000. If the bonds are retired at 103, what would be the amount Lane would pay its bondholders? A. $797,000 B. $800,000 C. 5820,910 D. $824,000 Bond Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2020, at 103. The journal entry to record the issuance will show a A. debit to Cash of $5,000,000. B. credit to Premium on Bonds Payable for S150,000. C. credit to Bonds Payable for $5,030,000. D. credit to Cash for $5,150,000. The net income reported on the income statement for the current year was $220,000 Depreciation recorded on plant assets was $35,000. Accounts receivable and inventories increased by $2,000 and $8,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $12,000 respectively. How much cash was provided by operating activities? A. $200,000 B. $235,000 C. $220,000 D. S255.000

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