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The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows: Common stock, $5 par value; authorized, 1,900,000 shares; issued, 380,000 shares $1,900,000 Paid-in capital in excess of par 869,000 Retained earnings 3,010,000 $5,779,000 The following events occurred during 2015: 1. Jan. 5 32,000 shares of authorized and unissued common stock were sold for $7 per share. 2. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5. 3. Feb. 10 40,000 shares of authorized and unissued common stock were sold for $12 per share. 4. March 1 A 30% stock dividend was declared and issued. Fair value per share is currently $15. 5. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share. 6. July 1 A 15% stock dividend was declared and issued. Fair value is currently $10 per share. 7. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.
An invoice for 50000 dollar dated feb 22 has payment terms 4/5, 3/20, n/30. A partial payment of 27000 was made on mar 10 a. How much was credeted to the account b. Determine the outstanding balance after this partial payment.
John considers the problem and suggests to you that to generate positive cash flows, the company could sell some of its accounts receivable and liquidate much of its raw material. These actions would be detrimental to net income but would generate..
A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $80; Second purchase $95; Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gros..
If computational and record-keeping costs are regarding the same under both FIFO and weighted average, which of the following techniques will generally be preferred?
Under the partial equity method, the entry to eliminate subsidiary income and dividends includes a debit to
Cash dividends paid by a corporation: a. reduces the net income of the corporation that declared the dividend. b. reduces the retained earnings of the corporation that declared the dividend.
A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9. Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share. The effect of the declaration and issuance of the s..
Which of the following would be an appropriate performance indicator for a not-for-profit health care organization?
Describe in detail an ethical dilemma in business that you or a coworker experienced and how it was resolved.
The local garden club, an exempt organization, had gross unrelated business income during the year of $15,000. Its costs associated with this income were $9,800. What is its unrelated business income tax?
Which of the following statements about required disclosures in segmental reporting is not true?
what is the amount of interest expense recorded by Pirate, Inc. in the first year of the asset's life?
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