Question
Leslies Bookstore had the following transactions during 2020: Issued $60,000 of par value common stock for cash. Repaid a 6 year note payable in the
- Leslies Bookstore had the following transactions during 2020:
- Issued $60,000 of par value common stock for cash.
- Repaid a 6 year note payable in the amount of $20,000.
- Acquired land by issuing common stock of par value $10,000.
- Declared and paid a cash dividend of $30,000.
- Sold a long-term investment (cost $5,000) for cash of $8,000.
- Acquired a long term investment in Apple stock for cash of $10,000.
What is the net cash flow from financing activities?
7.RuzMarin Restaurant reported a net loss of $6,000 for the year ended December 31, 2020 due to the Corona Shutdown. During the year, accounts receivable increased $15,000, inventory decreased $12,000, accounts payable decreased by $20,000, and depreciation expense of $12,000 was recorded.
Net cash flows from Operating Activities were?
8.Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity:
Paid in Capital: | |
8% preferred stock, $20 par value, cumulative | $ 150,000 |
Common stock, $10 par value | 500,000 |
Additional Paid-in capital in excess of parP/S | 200,000 |
Additional Paid-in capital in excess of parC/S | 900,000 |
Total Paid In Capital | 1,750,000 |
Retained Earnings | 2,000,000 |
Total PIC and Retained Earnings | 3,750,000 |
Less: Treasury Stock (3,000 shares, Common) | (50,000) |
Total Shareholders' Equity | $ 3,700,000 |
How many shares of common stock are outstanding?
9. Mambo Corporations December 31, 2020 balance sheet showed the following Shareholder Equity:
Paid in Capital: | |
8% preferred stock, $20 par value, cumulative | $ 150,000 |
Common stock, $10 par value | 500,000 |
Additional Paid-in capital in excess of parP/S | 200,000 |
Additional Paid-in capital in excess of parC/S | 900,000 |
Total Paid In Capital | 1,750,000 |
Retained Earnings | 2,000,000 |
Total Shareholders' Equity | $ 3,750,000 |
A 12% common stock dividend is declared when the market price is $16. Right after the declaration, the additional Paid-in capital in excess of par - C/S will be ___________.
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