Question Content Area The charter of a corporation provides for the issuance of 142,000 shares of common stock Assume that 61,000 shares were originally issued and 12,300 were subsequently reacquired What is the number of shares outstanding a 61,000 b 142,000 c 48,700 d 12,300 Nebraska Inc issues 3,850 shares of common stock for $123,200 The stock has a stated value of $20 per share The journal entry to record the stock issuance would include a credit to Common Stock for a $3,850 b $77,000 c $46,200 d $123,200 Question Content Area Kansas Company acquired a building valued at $159,000 for property tax purposes in exchange for 10,000 shares of its $6 par common stock The stock is widely traded and sold for $16 per share At what amount should the building be recorded by Kansas Company a $160,000 b $159,000 c $100,000 d $60,000 The charter of a corporation provides for the issuance of 107,000 shares of common stock Assume that 40,000 shares were originally issued and 4,900 were subsequently reacquired What is the number of shares outstanding a 44,900 b 35,100 c 4,900 d 40,000 Question Content Area If Dakota Company issues 2,700 shares of $8 par common stock for $56,700, a Paid in Capital in excess of Par Value will be credited for $21,600 b Paid in Capital in excess of Par Value will be credited for $35,100 c Common Stock will be credited for $56,700 d Cash will be debited for $21,600 Question Content Area The Sneed Corporation issues 14,400 shares of $50 par preferred stock for cash at $67 per share The entry to record the transaction will consist of a debit to Cash for $964,800 and a credit or credits to a Preferred stock for $720,000 and Paid in Capital in Excess of Par ValuePreferred Stock for $244,800 b Preferred Stock for $964,800 c Paid in Capital from Preferred Stock for $964,800 d Preferred Stock for $720,000 and Retained Earnings for $244,800 Question Content Area Alma Corp issues 1,830 shares of $9 par common stock at $17 per share When the transaction is recorded, credit(s) are made to a Common Stock $31,110 b Common Stock $16,470 and Paid in Capital in Excess of Par Value $14,640 c Common Stock $14,640 and Retained Earnings $16,470 d Common Stock $16,470 and Paid in Capital in Excess of Stated Value $14,640

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Question Content Area The charter of a corporation provides for the issuance of 142,000 shares of common stock. Assume that 61,000 shares were originally issued

Question Content Area

The charter of a corporation provides for the issuance of 142,000 shares of common stock. Assume that 61,000 shares were originally issued and 12,300 were subsequently reacquired. What is the number of shares outstanding?

a.61,000

b.142,000

c.48,700

d.12,300
Nebraska Inc. issues 3,850 shares of common stock for $123,200. The stock has a stated value of $20 per share. The journal entry to record the stock issuance would include a credit to Common Stock for

a.$3,850

b.$77,000

c.$46,200

d.$123,200
Question Content Area

Kansas Company acquired a building valued at $159,000 for property tax purposes in exchange for 10,000 shares of its $6 par common stock. The stock is widely traded and sold for $16 per share. At what amount should the building be recorded by Kansas Company?

a.$160,000

b.$159,000

c.$100,000

d.$60,000
The charter of a corporation provides for the issuance of 107,000 shares of common stock. Assume that 40,000 shares were originally issued and 4,900 were subsequently reacquired. What is the number of shares outstanding?

a.44,900

b.35,100

c.4,900

d.40,000
Question Content Area

If Dakota Company issues 2,700 shares of $8 par common stock for $56,700,

a.Paid-in Capital in excess of Par Value will be credited for $21,600.

b.Paid-in Capital in excess of Par Value will be credited for $35,100.

c.Common Stock will be credited for $56,700.

d.Cash will be debited for $21,600.
Question Content Area

The Sneed Corporation issues 14,400 shares of $50 par preferred stock for cash at $67 per share. The entry to record the transaction will consist of a debit to Cash for $964,800 and a credit or credits to

a.Preferred stock for $720,000 and Paid-in Capital in Excess of Par ValuePreferred Stock for $244,800.

b.Preferred Stock for $964,800.

c.Paid-in Capital from Preferred Stock for $964,800.

d.Preferred Stock for $720,000 and Retained Earnings for $244,800.
Question Content Area

Alma Corp. issues 1,830 shares of $9 par common stock at $17 per share. When the transaction is recorded, credit(s) are made to

a.Common Stock $31,110.

b.Common Stock $16,470 and Paid-in Capital in Excess of Par Value $14,640.

c.Common Stock $14,640 and Retained Earnings $16,470.

d.Common Stock $16,470 and Paid-in Capital in Excess of Stated Value $14,640