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Multiple Choice Question 198 Novak Corp had net income of 592600 and paid dividends of $48500 to common stockholders and $24000 to preferred stockholders in 2020. Novak Corp.'s common stockholders' equity at the beginning and end of 2020 was $850000 and $1000000, respectively. Novak Corp.'s payout ratio for 2020 was 43.75 52.38% 15.15% 4.85% Multiple Choice Question 3 Sheridan Company issues 4500 shares of $10 par value common stock at 11 per share. When the transaction is recorded, credits are made to Common Stock $49500 Common Stock 545000 and Paid in Capital in Excess of Par Value 4500 Common Stock $45000 and Retained Earnings $4500 Common Stock $45000 and Paid in Capital in Excess of State Value $4500 Multiple Choice Question 90 Pina Colada Corporation began business in 2020 byssuing 47000 shares of $5 par common stock for $7 per share and 4700 shares of 7, S10 par preferred stock for stock had a market value of $10. On its December 31, 2020 balance sheet, Pina Colada would report At yeared the common Pald-in Capital of $361900. Common Stock of $470000. Common Stock of $329000. Common Stock of $235000. Question Attempts: 0 of 1 used MILANSWE Multiple Choice Question 114 Whispering Winds Corp. issues 59000 shares of $50 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $4130000 and a creditor credits to Preferred stock for $2950000 and Pald-in Capital in Excess of Par Value-Preferred Stock for $1180000 Preferred Stock for $2950000 and Retained Earnings for $1180000 Paid-in Capital from Preferred Stock for $4130000 Preferred stock for 4130000 Multiple Choice Question 150 When using the indirect method to compute cash provided by operating activities amortization expense is added to net income income taxes payable may be ignored. decreases in Inventory are subtracted from net income. increases in accounts receivable are added to net income. Multiple Choice Question 198 Novak Corp had net income of 592600 and paid dividends of $48500 to common stockholders and $24000 to preferred stockholders in 2020. Novak Corp.'s common stockholders' equity at the beginning and end of 2020 was $850000 and $1000000, respectively. Novak Corp.'s payout ratio for 2020 was 43.75 52.38% 15.15% 4.85% Multiple Choice Question 3 Sheridan Company issues 4500 shares of $10 par value common stock at 11 per share. When the transaction is recorded, credits are made to Common Stock $49500 Common Stock 545000 and Paid in Capital in Excess of Par Value 4500 Common Stock $45000 and Retained Earnings $4500 Common Stock $45000 and Paid in Capital in Excess of State Value $4500 Multiple Choice Question 90 Pina Colada Corporation began business in 2020 byssuing 47000 shares of $5 par common stock for $7 per share and 4700 shares of 7, S10 par preferred stock for stock had a market value of $10. On its December 31, 2020 balance sheet, Pina Colada would report At yeared the common Pald-in Capital of $361900. Common Stock of $470000. Common Stock of $329000. Common Stock of $235000. Question Attempts: 0 of 1 used MILANSWE Multiple Choice Question 114 Whispering Winds Corp. issues 59000 shares of $50 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $4130000 and a creditor credits to Preferred stock for $2950000 and Pald-in Capital in Excess of Par Value-Preferred Stock for $1180000 Preferred Stock for $2950000 and Retained Earnings for $1180000 Paid-in Capital from Preferred Stock for $4130000 Preferred stock for 4130000 Multiple Choice Question 150 When using the indirect method to compute cash provided by operating activities amortization expense is added to net income income taxes payable may be ignored. decreases in Inventory are subtracted from net income. increases in accounts receivable are added to net income