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i NEED fast help in these questions. I have only 15 minutes and I do not need explanation. Just put options. Please do it fast
i NEED fast help in these questions. I have only 15 minutes and I do not need explanation. Just put options. Please do it fast
Question 1 Which of the following is a true statement about a corporation? The owners of a corporation co-own the property of a corporation. A corporation is not taxed on the corporation's business income. The owners of a corporation have unlimited liability for the corporation's debts. The corporation is a legal entity separate from its owners. Question 2 2.5 Sly Corporation issued 20,000 shares of common stock on January 1, 2020. The stock has a par value of $5 per share and was issued for $30 per share. The journal entry for this transaction would debit cash $600,000, credit Common stock $100,000, debit Paid-in capital in excess of par $500,000 debit cash $600,000, credit Common stock $600,000 debit cash $600,000, credit Paid-in capital $600.000 credit cash $600,000, debit Common stock $100.000, debit Paid-in-capital $500.000 Question 3 Whitman Corporation reported the following in the equity section on its current balance sheet: Common stock, $5 par, 100,000 shares authorized, 40,000 shares issued, 30,000 shares outstanding Paid-in capital in excess of par - Common After a 2-for-1 stock split, what is the number of outstanding shares and par value? $200,000 120,000 40.000 shares: $5 80.000 shares: $2.50 40.000 shares: $2.50 80.000 shares: 55Step by Step Solution
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