Bar Company has 15,000 shares of 7% $100 por vic tive preferred stockoutstanding in the company's fast year of operation de wereld the company paid cash dividends of $250.000 This dividend should be distributed to the company's preferred and common shareholders as follows: in the second year Preferred 140,000: Common $210,000 Preferred $145.000 Preferred 5210,000 $105.000 $40.000 Preferred $105.000; Common $145,000 D Question 2 On January 1, 2021 Winter Company issued $500,000, 5 year ex bonds at 97. Interest is paid semiannually on each June 30 and December 31. The maturity dates December 31 2025. What journal entry will the company record when it is the bonds on January 1, 2021 Debt Bonds Payable $500.000 credit Discount on fonds Payable $15.000 credit Cath $485.000 Debit C 5500.000, r e count on Bonds $15.000,- Bonds 485.000 Debit Cash 485.000 de eum on Bonds Payable $15.000 ord Bonds Pay 500.000 Debit Cash $485.000 debit Discount on Bonde Payable $15.000 credit Bonds Payable 500.000 D Question 3 ed Tracy Company issues bonds on January 1, 2019. The contract rates. The market rates. The bonds will be l premium Question 4 5 pts On November 1, Marathon Company issues 1,000 shares of $1 par value common stock for $10 cash per share. The journal entry to record the issuance of the shares on November 1 would include adebit to Pald-In Capital in Excess of Par Value $9.000 a debit to Common Stock $1.000 a credit to Pald-in Capital in Excess of Pur Value $1.000 credit to Common Stock $1,000 Question 5 3 pts On November 1, Marathon Company issues 1,000 shares of $1 par value common stock for $10 cash per share What journal entry would the company record when it issues the shares on November 1 Debit Cash $10.000 credit Common Stock 510.000 Debit Cash $10.000 credit Common Stock $1000 credit Pals in Capital in Excess of P V 59.000 Debit Can $1000, debit Common Stock $9.000. Crest Paid in Capital in Escess of Dar Debit Casa $10,000 crest Common Stock $9.000 credit als in Capitatin Excess of Dar $10.000 1000 Question 6 5 pts Lawrence Company has 25.000 shares of 4 $100 par value noncumulative preferred stock outstanding in the company's first year of operation, no dividends were paid During the second year, the company paid cash dividends of $450,000. This dividend should be distributed to the company's preferred and common shareholders as follows: Preferred 5200,000. Common $250,000 O Preferred $100.000 C 350 000 Preferred $350.000. Common $100.000 Preferred 5250,000. Common $200.000 5 pts D Question 7 Olle Company issues bonds on January 1, 2016. The contract rate is 7x The market rate is 8. The bonds will be issued premium D Question 8 record whe e ntry would the t her on 2000 shares of a common stock for 512 cash per share what On October 1 Ace Company October 1 D Question 9 5pts On January 1, 2021, Laird Company issued $300,000,5-year, 9% bonds at 103. Interest is paid semiannually on each June 30 and December 31. The maturity date is December 31, 2030 What journal entry will the company record when it makes its first semiannual cash interest payment on June 30, 2021? O Debit interest Expense $14.400 credit Premium on Bonds Payable $900 Credit Cash $13.500 Debit interest Expense $13.500: credit Premium on Bonds Payable 5900: Credit Cash 512600 Debit interest Expense 500. debit Premium on Bonds Payable $13.500 Credit Cath $14.400 Debit interest Expense $12,600eblt Premium on Bonds Payable 5900 credit Cash $13.500 5 pts D Question 10 On January 1, 2021. Winston Company issued $225.000, 10 year, o bonds at 102. Interest is pald semiannually on each June 30 and December 31. The maturity date is December 31, 2030. How much Bond Interest Expense will the company record on each semiannual cash interest payment date! 1450 59000 Taylor Company is thered to 5.000 shares of common stock and has 7.000 shares outstanding only the company decorada company paid the dividend The My 31 jour entry to read the dividend payments as follows: per dare a n d only 31, the Debit Common Divide r De Come D e cret 1400 Debt Retained Earning credit Carmo Died Payable $400 Debat $400. Commonwendy 5400 D Question 12 Baylor Company purchased 1,000 shares of its own stock for $12,000. The journal entry to record the purchase would be as follows: Debit Common Stock $12.000 Cash $12.000 Debt Treasury Stock 512.000.cred Common Stock $12.000 Debrewry Stock $12.000, 512.000 Debit Cash $12.000 credit Treasury Stock $12000 Question 13 On January 1, 2021, Winter Company issued $500,000, 5 year, bonds at 97 Interestis pald semmilyon each June 30 and December 31. The maturity dates December 31. 2025. How much Bond Interest Expense will the company record on each semiannual cash interest payment date? 51500 $30000 518.500 5310 Morris Company webohon January 1, 2019. The contractates the truth . The band will be D Question 15 5 pts On January 1, 2021, Shelby Company issued $250,000, 10 year, 7% bonds at Interest is paid semiaually on each June 30 and December 31. The maturity date is December 31, 2030 How much Bond Interest Expense will the company record on each semiannual cash interest payment date! 59.000 S70 1500 D Question 16 3 pts On January 1, 2019. Valery Company issued $100.000, five-year 10% bonds at 100, Interest is paid semiannually on each June 30 and December 31. The maturity dutie is December 31, 2023. What journal entry will the company record on January 1, 2019 Debit Cash $110.000 Premium on Bond Daybe $10000 Bonds Patie 100.000 De Bonds wat 100 000 credit ca 100.000 Debit $100.000 de Diacount on Bordi Payable 510.000 credit Bands Pytle 120.000 Debt Can 100.000 Credit Bordi Payable $100.000 Question 17 On January 1, 2018 Dover Company issues $100.000, 7x bonds 104 honey is the company b e $107.000 $100000 $1.450000 D Question 18 Thomas Company purchased 2000 shares of its own stock for $17.000 The Journal entry to record the would be follows Det Trey Stock $17.000 cred ca 17.000 D ressury Sock 117.000 Reading $17.000 Debit Common S 1000 cred ca 17.000 17000 Cash 17.000 Debat D Question 19 On August 1, Branlett Company issues 5.000 shares of August par v ecommon stock for cashper share Watjournalenrould the company record when the share on Debat Cash 25.000 1300 1 000 Deba 25.000 b Common 20.000 tis E .000 Debet Cash 45.000, credit common to 23.000 credit capitalist a 30.000 Debit C 45.000 credit common stock 50.000 cred i ts too W 35.000 Question 20 Maior Company is authorired to issue 10 000 shares of common stock and has 7000 shares outstanding on September 1, the company declared a $25 per share cash didend on September 30, the company paid the dividend The September Journal entry to record the dividend payment follows: Debrandaming $2500 creditCommo ndate 2.500 Debit Common Dividend 2300 Credit Cash 52.500 Debit Cannonded $1750: credit 1750 Debit Ca 1.730 credit Com budend 10