Question
Please explain how to calculate this to get an answer like the key above for number 113, 114, 115, 116, 117, 118, 119, 120, and
Please explain how to calculate this to get an answer like the key above for number 113, 114, 115, 116, 117, 118, 119, 120, and 121
Chapter : CORPORATIONS: ORGANIZATION AND CAPITAL STOCK TRANSACTIONS
113. The Nice Corporation issues 10,000 shares of $100 par value preferred stock for cash at $110 per share. The entry to record the transaction will consist of a debit to Cash for $1,100,000 and a credit or credits to
114. Triad declared and paid a $25,000 cash dividend on December 15, 2008. If the companys dividends in arrears prior to that date were $6,000, Triads common stockholders received
115. Triads total paid-in capital was
116. Triads total stockholders equity was
117. Burgess Corporation began business by issuing 100,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $20,000. The year-end balance sheet would show
118. Starrs total paid-in capital was
119. Starrs total stockholders equity was
120. Adcock Corporation began business by issuing 150,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $30,000. The year-end balance sheet would show
121. The trial balance of Hackman Inc. includes the following balances: Common Stock, $39,000; Paid-in Capital in Excess of Par, $96,000; Treasury Stock, $9,000; Preferred Stock, $30,000. Capital stock totals
113 The Nice Corporation issues 10,000 shares of $100 par value preferred stock for cash at $110 per share. The entry to record the transaction will consist of a debit to Cash for $1,100,000 and a credit or credits to a. Preferred Stock for $1,100,000. b. Paid-in Capital from Preferred Stock for $1,100,000 c. Preferred Stock for $1,000,000 and Retained Earnings for $100,000 d. Preferred Stock for $1,000,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $100,000 Use the following information for questions 114-116 Triad Corporation's December 31, 2008 balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 10,000 shares authorized: 5,000 shares issued $ 100,000 Common stock, $10 par value, 1,000,000 shares authorized; 650,000 shares issued, 640,000 shares outstanding 6,500,000 Paid-in capital in excess of par value preferred stock 20,000 Paid-in capital in excess of par value--common stock 9,000,000 Retained eamings 2,500,000 Treasury stock (10,000 shares) ( 210,000 114 Triad declared and paid a $25,000 cash dividend on December 15, 2008. If the company's dividends in arrears prior to that date were $6,000. Triad's common stockholders received a. $19,000. b. $9,000 c. $11,000 d. no dividend 115. Triad's total paid-in capital was a $15,620,000 b. $15,830,000 C. $15,410,000 d. $9,020,000 116 Triad's total stockholders' equity was a. $18,380,000 b. $15,620,000 c. $18,170,000 d. $17.910,000. 117. Burgess Corporation began business by issuing 100.000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $20,000. The year-end balance sheet would show a. Common stock of $500,000 b. Common stock of $2,400,000 C. Total paid-in capital of $2,380.000, d. Total paid-in capital of $1,900,000 Use the following information for questions 118-119. Starr Corporation's December 31, 2008 Balance Sheet showed the following: , 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized: 10,000 shares issued $ 200,000 Common stock, $10 par value. 2,000,000 shares authorized: 1,300,000 shares issued, 1,280,000 shares outstanding 13,000,000 Paid-in capital in excess of par value - preferred stock 40,000 Paid-in capital in excess of par value - common stock 18,000,000 Retained earnings 5,100,000 Treasury stock (10,000 shares) 420,000 118 Starr's total paid-in capital was a. $31,240,000 b. $31,660,000 c. $30,820.000 d. $18,040,000 119. Starr's total stockholders' equity was a. $36.760,000 b. $31.240.000 C. $36,340.000 d. $35.920,000 120. Adcock Corporation began business by issuing 150,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $30,000. The year-end balance sheet would show a. Common stock of $750,000. b. Common stock of $3,600,000 c. Total paid-in capital of $3,570,000. d. Total paid in capital of $2.850.000, 121 The trial balance of Hackman Inc. includes the following balances: Common Stock $39,000: Paid-in Capital in Excess of Par, $96,000; Treasury Stock. $9,000; Preferred Stock, $30,000. Capital stock totals a $69.000 b. $126,000 c. $165.000 d. $174,000Step by Step Solution
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