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can someone help me with this question please November 1, 2015, Oster Company declared a dividend of $3.00 per share. Oster A) Debit Cash $60,000
can someone help me with this question please
November 1, 2015, Oster Company declared a dividend of $3.00 per share. Oster A) Debit Cash $60,000 and credit Dividends Payable-Common C) Debit Dividends Payable-Common $60,000 and credit Retained Earnings $60,000 Co 8) On 20,000 sh ares of common stock outstanding and no preferred stock. Which of the followin g is the journal entry needed to record the declaration of dividends? $60,000. it Retained Earnings $60,000 and credit Dividends Payable-Common $60,000 D) Debit Retained Earnings $60,000 and credit Cash $60,000 9) A bond is issued at discount: A) when a bond's stated interest rate is equal to the market interest rate. B) when O) when a bond's stated interest rate is less than the market interest rate. D) when a bond's stated interest rate is higher than the market interest rate. a bond's stated interest rate is more than the effective interest rate. A corporation originally issued $5 par value common stock for $6 per share. Which of the following would be included in the entry to record the purchase of 300 shares of treasury stock for $10 per share? 10) A) Treasury Stock-Common would be debited for $3,000. B) Treasury Stock-Common would be credited for $1,800. C) Retained Earnings would be debited for $1,500. D) Treasury Stock-Common would be debited for $1,500. 11) On November 1, 2015, Oster Company declared a dividend of $3.00 per share. Oster Company has 10,000 shares of common stock outstanding and 20,000 preferred shares. The date of record is November 15, and the payment date is November 30, 2014. Which of the following statements is true of the date of record? A) No journal entry is made on the date of record. B) The company transfers cash to a brokerage firm on the date of record C) The liability must be recorded on the date of record D) Cash is disbursed to shareholders on the date of record 12) The balance in the Bonds Payable account is a credit of $65,500. The balance in the Discount on Bonds Payable account is a debit of $2,150. How much is the bond's carrying amount? A) $67,650 B) $63,350 C) $65,500 D) $2,150 13) Which of the following statements is true of a corporation? A) The liabilities of the corporation can be paid by the personal assets of the shareholders. B) Corporations pay income tax on corporate earnings, and shareholders pay personal income tax on corporate dividends and gains from sale of stock C) Shares of stock cannot be readily bought and sold by investors on the open market. D) Shareholders are authorized to sign contracts or make business commitments on behalf of the corporation. 14) ABC has 45,000 shares of $10 par common stock outstanding. They offer a stock split of 4-for-1. The effect of the split will be: A) par goes to $40; total shares go to 180,000. B) par drops to $5; total shares stay at 45,000. C) par drops to $2.50; total shares go to 180,000. D) par stays at $10; total shares go to 11,250Step by Step Solution
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