15s. Which of the Sollowing is net a prcrequisite to paying a cas a. formal acti

Question

15s. Which of the Sollowing is net a prcrequisite to paying a cas a. formal action by the board of directors per share e sufficient cash 16. How is treasury stock shows on the balance sheet d. treasury stock is not shown on the balance sheet 17. Earnings per share a is the net income per common share h. must be reported by public company e belps compare companies of different sizes d. all of the answers are correct 18. The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares outstanding a. 10,000 b. 40,000 c. 30,000 d 50,000 19. Kansas Company acquired a building valued at $210,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and selling for S15 per share. At what amount should the building recorded by Kansas Company? a. $60,000 b. $180,000 c. $210,000 d. $120,000 20. The Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The entry to r the transaction will consist of a debit to Cash for $750,000 and a credit or credits to a. Preferred Stock for $750,000 b. Preferred Stock for $500,000 and Paid-In c Preferred Stock for $$00,000 and Retained Earnings for $250,000 d. Paid-In Capital from Preferred Stock for $750,000 Capital in Excess of Par--Preferred Stock for $250,000 21. Texas Inc. has 10,000 shares of656, S 125 par value cumulative preferred stock and 50,000 common stock outstanding at December 31. What is the annual dividend on the preferred stock? shares of S1 par a. 560 per share b$75,000 in total yig Cengage Leaming Powered by Cognero

Explanation / Answer

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. 15. b. Market value in excess of par value 16. b. a decrease in stockholder Equity 17. d. All of the above 18. c. 40000-10000=30000 19. b. 12000*15 180000 20. b. Preferred Stock for 500000 and Paid in Capital in excess of Par-Preferred Stock for 250000 21 No of Shares 10000 Par Value 125 Per Share dividend 125*6% 7.5 Total Dividend 10000*7.5 75000

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.