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Pls answer the questions with the explanation Page 6 of 12 sume xyz corporation issued 2,000 shares of preferred stock par value or the exchange
Pls answer the questions with the explanation Page 6 of 12 sume xyz corporation issued 2,000 shares of preferred stock par value or the exchange for a truck that had FMV of $30,000. What amount A) $ 10,000 B) $ 15,000 c)$ 7,000 D) O 22) Assume would be paid in capital 23) Which Financial statement would a prior period adjustment be shown? A) Balance sheet liability section. B) Balance sheet on the asset section. C) Balance sheet stockholder equity D) Income statement as other revenue /expense. 24) Which statement is correct about a stock split. A) A Stock split can reduce the number of shares outstanding. B) A stock split will increase par value of each share C) A stock split will increase the number of shares and decrease par value. D) No effect at all. 25) Where would the adjustment for trading securities be shown. A) On the balance sheet and income statement. B) On the balance sheet and stockholder equity. C) On the balance sheet and cash flow statement. D) No effect at all. 26) Where would the adjustment for available for sale securities be shown. A) On the balance sheet and income statement B) On the balance sheet and stockholder equity C) On the balance sheet and cash flow statement. D) No effect at all
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