Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!

Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Which of the following is a false statement? Stockholders are residual claimants of the corporation. Stockholders may vote only if they physically attend the annual stockholders' meeting Stockholders are owners of the corporation Stockholders receive their proportionate share of any assets remaining after the corporation pays its debts and liquidates. . Andrea Inc. had the following transactions in 2019, its first year of operations: Issued 2,200 shares of common stock at $39.00 per share. Earned net income of $60,000. Paid dividends of $14.00 per share. At the end of 2019, what is total stockholders' equity? $85,800 $58,600 O $115,000 $176,600 On November 1, 2019, Pedro Co. declared a dividend of $7.5 per share, payable on December 1, 2019. Pedro Co. has 12,000 shares of common stock outstanding and no preferred stock. Which of the following is needed to record the dividend declaration? Debit Cash $90,000, and credit Dividends Payable-Common $90,000 Debit Dividends $90,000, and credit Cash $90,000, Debit Dividends $90,000, and credit Dividends Payable-Common $90,000. Debit Dividends Payable-Common $90,000, and credit Retained Earnings $90,000. Question 31 2 pts Shorthorn Co. has $200,000 retained earnings at the end of 2018. It earns net income of $40,000 during 2019. $160,000 of retained earnings is the ending balance in 2019 after closing entries are prepared. How much dividends did Shorthorn Co. pay? $400,000 $40.000 $80,000 $120,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services A Systematic Approach

Authors: William F. Messier, Steven M. Glover, Douglas F. Prawitt

4th Edition

0071117474, 9780071117470

More Books

Students also viewed these Accounting questions

Question

Define strategy.

Answered: 1 week ago

Question

Brief the importance of span of control and its concepts.

Answered: 1 week ago

Question

What is meant by decentralisation?

Answered: 1 week ago

Question

2. What role should job descriptions play in training at Apex?

Answered: 1 week ago