Question
Corcoran Inc. reported the following information at December 31: Preferred Stock, $2.00 par, 10,000 shares authorized $ 5,400 Additional paid-in capital preferred stock 4,995 Common
Corcoran Inc. reported the following information at December 31:
Preferred Stock, $2.00 par, 10,000 shares authorized | $ 5,400 |
Additional paid-in capital preferred stock | 4,995 |
Common stock, $1.00 par, 6,000 shares authorized | 1,800 |
Additional paid-in capital common stock | 4,350 |
Retained earnings | 8,500 |
Treasury stock, at cost of $4 per share | (1,000) |
Total | $24,045 |
Smeagles Trucking common stock was selling for $12 per share at year-end. If the company declares a 10% common stock dividend, what will be the amount of total shareholders' equity at year-end?
Select one:
A. $15,500
B. $15,950
C. $24,045
D. $ 5,400
Upon submitting its corporate charter to the state, Super Zip-line was granted permission to issue 5,000 shares of $0.30 par value common stock. Net income for the year for Super Zip-line was $82,000. In addition, the following transactions took place during the year:
January 2: | Investors paid Super Zip-line $7 each for 2,100 shares of common stock. |
March 12: | Super Zip-line purchases 500 shares of its own common stock for $6.50 per share. |
October 31: | Super Zip-line declared a 2-for-1 forward stock split. |
As of December 31, how many shares are issued, and how many shares are outstanding?
Select one:
A. Issued, 3,400; Outstanding, 4,200
B. Issued, 3,400; Outstanding, 2,100
C. Issued, 4,200; Outstanding, 3,200
D. Issued, 4,200; Outstanding, 1,700
Selected accounts from Tushy Companys balance sheet appear below as of December 31:
Bonds payable, net of $7,150 discount | $ 94,500 |
|
Common stock | 134,000 |
|
Retained earnings | 147,500 |
|
Accumulated other comprehensive income: |
|
|
Unrealized loss on available-for-sale securities | (7,000 | ) |
The company reported net income of $17,000 and interest expense of $11,000, of which $2,800 was bond amortization, on its income statement. In addition, the available-for-sale securities increased in value by $2,250 during the year. How much is the cash flows from (for) operating activities?
Select one:
A. $18,400
B. $22,050
C. $15,600
D. $19,800
The asset section of the balance sheet for Corgie's Corporation appears below (amounts in millions):
Assets |
|
Current assets |
|
Cash and cash equivalents | $ 1,225.0 |
Net receivables | 4,603.5 |
Inventory | 3,390.0 |
Other current assets | 234.5 |
Total current assets | 9,453.0 |
Long term investments | 107.5 |
Property, plant and equipment | 12,047.5 |
Intangible assets | 104.0 |
Other assets | 568.0 |
Total assets | $22,280.0 |
Assume that plant assets totaling $2,400.0 million were purchased, depreciation totaling $1,100.0 million is recorded, cash and cash equivalents declined by 10%, while all other current assets increased by 7%. Assume all other asset amounts remain the same amounts. How much are pro forma total assets?
Select one:
A. $23,383.5 million
B. $10,686.0 million
C. $24,033.5 million
D. $23,933.5 million
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