Which statement below is not a factor for a corporation to buy ago its very own stock.a.resale to employeesb.bonus to employeesc.for supporting the market price of the stockd.to boost the shares outstanding
How is treasury stock displayed on the balance sheet?a.as an assetb.as a decrease in stockholders" equityc.as a boost in stockholders" equityd.treasury stock is not displayed on the balance sheet
The excess of sales price of treasury stock over its expense need to be attributed to a.Treasury Stock Receivableb.Premium on Capital Stockc.Paid-In Capital from Sale of Treasury Stockd.Income from Sale of Treasury Stock
Treasury stock that had actually been purchased for $5,400 last month was reissued this month for $7,500. The journal entry to record the reissuance would certainly incorporate a crmodify to a.Treasury Stock for $7,500b.Paid-In Capital from Treasury Stock for $7,500 c.Paid-In Capital in Excess of Par/Typical for $2,100 d.Paid-In Capital from Treasury Stock for $2,100
A corporation purchased 1,000 shares of its $5 par widespread stock at $10 and also ultimately sold 500 of the shares at $20. What is the amount of revenue realized from the sale?a.$0b.$5,000c.$2,500d.$10,000
When a stock dividfinish is asserted, which of the following accounts is credited?a.Usual Sockb.Dividend Payablec.Stock Dividends Distributabled.Retained Earnings
The licapacity for a dividend is recorded on which of the adhering to dates?a.the date of recordb.the date of paymentc.the day of announcementd.the date of declaration
Which of the complying with is the correct basic journal entry to record the declaration of a cash dividends?a.Retained earnings Cashb.Cash Dividends payable Cashc.Paid-in resources Cash Dividends payabled.Cash Dividends Cash Dividends Payable
The day on which a cash dividfinish becomes a binding legal duty is on thea.declaration date.b.date of document.c.payment date.d.last day of the fiscal year end.
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The charter of a corporation gives for the issuance of 100,000 shares of prevalent stock. Assume that 50,000 shares were initially issued and also 5,000 were consequently regained. What is the amount of cash dividends to be paid if a $1 per share dividfinish is declared?a.$50,000b.$5,000c.$100,000d.$45,000
On January 1, 20xx, Sunshine Corporation had 40,000 shares of $10 par worth widespread stock issued and outstanding. All 40,000 shares had actually been issued in a prior period at $20.00 per share. On February 1, 20xx, Sunshine purchased 2,000 shares of treasury stock for $23 per share and also later on sold the treasury shares for $21 per share on March 1, 20xx.The journal entry to record the purchase of the treasury shares on February 1, 20xx, would incorporate a a.credit to Treasury Stock for $46,000.b.delittle bit to Treasury Stock for $46,000.c.delittle bit to a loss account for $6,000d.credit to a acquire account for $6,000.
New Corp. issues 1,000 shares of $10 par worth common stock at $15 per share. When the transactivity is taped, credits are made to:a.Typical Stock $10,000 and Paid-in Capital in Excess of Par Value $5,000.b.Typical Stock $10,000 and Retained Incomes $5,000.c.Typical Stock $10,000 and also Paid-in Capital in Excess of Stated Value $5,000.d.Usual Stock $15,000.
Alliance Corp. problems 1,000 shares of $10 par value widespread stock at $14 per share. When the transaction is tape-recorded, credits are made to:a.Usual Stock $14,000.b.Typical Stock $10,000 and also Paid-in Capital in Excess of Par Value $4,000.c.Common Stock $10,000 and also Paid-in Capital in Excess of Stated Value $4,000.d.Typical Stock $10,000 and Retained Salaries $4,000.
The Scurrently Corporation issues 10,000 shares of $50 par worth preferred stock for cash at $60 per share. The enattempt to record the transaction will consist of a debit to Cash for $600,000 and a credit or credits toa.Preferred Stock for $600,000.b.Preferred stock for $500,000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $100,000.c.Preferred Stock for $500,000 and also Retained Salaries for $100,000.d.Paid-in Capital from Preferred Stock for $600,000.
Preferred stock for $500,000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $100,000.
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If Larger Company kind of problems 1,000 shares of $5 par worth widespread stock for $70,000, the accounta.Common Stock will be attributed for $70,000.b.Paid-in Capital in excess of Par Value will be attributed for $5,000.c.Paid-in Capital in excess of Par Value will certainly be credited for $65,000.d.Cash will certainly be debited for $65,000.
Ethical Obligations and also Decision-Making in Accounting: Text and Cases4th EditionRoselyn Morris, Steven Mintz