Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

y 2. When a company issues 25.000 shares of Spare come se for $10 per the this issuance would include: A A debit to Cash

image text in transcribed
y 2. When a company issues 25.000 shares of Spare come se for $10 per the this issuance would include: A A debit to Cash for $25.000 B. A debit to Additional Paid-in Capital for $25.000 C. A credit to Additional Paid-in Capital for $250,000 D. A credit to Common Stock for 525.000 13. A company issued 1,000 shares of 51 par value preferred stock for $5 pers . What is true journal entry to record the issuance? A Debit Preferred Stock 55.000 B. Credit Cash 55.000 C. Credit Preferred Stock 55.000 D. Credit Additional Paid-In Capital $4,000 14. A company repurchases 1,000 shares of its own 51 por common stock for 515 per here. This purchase would be recorded with a A. Credit to Treasury Stock for $1.000 B. Debit to Additional Paid-In Capital for $14,000 C. Credit to Treasury Stock for $15,000 D. Debit to Treasury Stock for $15,000 15. The board of directors of Capstone Inc, declared a 50.60 per share cash dividendoni si par stock on June 1. On the date of declaration, there were 20,000 shares issued and 5,000 shares held treasury stock. What is the entry on June 30 to record the payment of cash dividende 9.000 9.000 9.000 9,000 12.000 A. Dividends Dividends Payable B. Dividends Payable Cash C. Dividends Dividends Payable D. Dividends Payable Cash 12000 16. The disadvantages of the corporate form of business include: A. Ability to transfer ownership B. Additional taxes. C. Limited liability D. Ability to raise capital. 17. The par value of shares issued is normally recorded in the A. Additional Paid-in Capital account. B. Common Stock account. C. Retained Earnings account. D. Treasury Stock account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds

8th edition

978-1259569197

Students also viewed these Accounting questions