Question
Hello- any help that you can provide with solving the following problems is much appreciated! Thank you. On August 1, 2018, Towson Corp., declared a
Hello- any help that you can provide with solving the following problems is much appreciated! Thank you.
- On August 1, 2018, Towson Corp., declared a 10% stock dividend on its common stock when the market value of the common stock was $15 per share.The balance in the common stock account, before the stock dividend was declared, was $900,000.The par value of all common stock is $10.What is the total dollar amount credited to additional paid in capital - common stock on August 1, 2018?
2.Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:
Date: Company: #of Shares: Price per Share:
8/15 X 1,500 $40
9/25 Y 1,250 30
9/30 Z 1,000 28
On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:
Company: FMV per Share:
X Company $49
Y Company 15
Z Company 29
What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018?Enter a Loss as a negative number.
3.ArundelCompany uses percentage of sales to estimateuncollectibles.At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance of $78,000 and had a total of $735,000 in credit sales.Arundel assumes that 2.0% of sales will eventually be uncollectible.before adjustment, the Allowance for Uncollectible Accounts had a credit balance of 6,000.What dollar amount should be credited to Allowance for Uncollectible Accounts at year end?
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