On December 18, 2019, Seifert Corp. declared a $40,000 dividend to be paid on January 25, 2020 to shareholders of record on January 3, 2020. On which date will Seifert debit the Dividends account? December 31, 2019 January 25, 2020 January 3, 2020 December 18, 2019 Davis, Inc. reported total stockholders' equity of $547,000 on its balance sheet dated December 31, 2018. During 2019. Davis reported the following items: Net income of $160,000 Sold 500 additional shares of its $1 par common stock for $30 share Declared and paid dividends of $39,000 What amount would Davis report as total stockholders' equity on its balance sheet dated December 31, 2019? $683.000 $668,500 $722.000 $121.000 Davidson, Inc. purchased a building on January 1, 2019 for $700,000. The building has an expected service life of 10 years and expected residual value of $100,000. Assuming straight-line depreciation, what will the 2019 depreciation expense be on this building? $70,000 $60.000 $90.000 $20,000 On March 31, 2020, Crateman Publishing Corp. receives a prepayment from Samson, Inc. of $1,500 for a 12-month subscription to a trade journal they publish. The subscription starts on April 1, 2020. Crateman records adjusting journal entries annually on its year-end date. What adjusting journal entry will Crateman Publishing Corp. record on December 31, 2020 (year-end) relating to this subscription? Credit ACCOUNT Cash Subscription Revenue Debit 1,500 1,500 Credit ACCOUNT Subscription Expense Prepaid Expenses Debit 1125 1125 Credit ACCOUNT Deferred Revenue Subscription Revenue Debit 1.125 125 Credit ACCOUNT Deferred Revenue Subscription Revenue Debit 500 1.500 Mainer, Inc. sold 33,000 shares of its $2 par value common stock for $50 per share. The entry to record this sale would be: Credit Debit 1,650,000 ACCOUNT Cash Common Stock Additional Pald-in Capital 66.000 1,584,00 Credit ACCOUNT Cash Common Stock Debit 66,000 66,000 Debit Credit ACCOUNT Cash Common Stock 1.650.000 1 650 000 Credit ACCOUNT Common Stock Additional Paiden Capital Debit 1.584.000 60,000 1.650.000 3 pts Question 37 Which of the following accurately describes the change in carrying values for bonds issued at a premium or discount over time until maturity? and Issued at a Premium: Carrying values increase Issued at a Discount Carrying values and Issued at a Premium Carrying values decrease Issued at a Discount Carrying values remain the same and Issued at a Premium Carrying values decrease Issued at a Discount: Carrying values increase and Issued at a Discount Caring values increase Issued at a Premium Carrying values remain the same On January 1, 2020, Jamelle, Inc. issued $500,000 face amount, 5% stated interest rate, 12- year bonds which pay interest semi-annually on June 30 and December 31. The market rate of interest was 6% and the issue price of the bonds was $457,661. How much interest se would Jamelle record on June 30, 2020? $14,904 $11.992 $12.500 $13.730 On July 1, 2019, Sampson, Inc. issued $900,000, 15-year, 6% stated interest rate bonds. They received $814,897 from the issuance. This issuance price indicates: that the market rate of interest is less than 6% that the market rate of interest is greater than 6% nothing about the market rate of interest that the market rate of interest equals 6%