A company has provided the following:• 200,000 shares of $1 par value common stock are authorized• 150,000 shares of common stock were issued for $10 per share• 140,000 shares are outstandingWhich of the following statements is False?All of the statements are True - NONE are False.There are 10,000 shares of treasury stock.Common stock is reported at $200,000 on the balance sheet.Stockholders' Equity was decreased when the Treasury shares were purchased by the company.Addition Paid-In Capital is reported at $1,350,000 on the balance sheet.

Shareholder equity is a measure of a company's net worth, is the entire sum of money that would be…

Answered: A company has provided the following: •…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 12MC: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting...

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The following data was reported by Saturday Corporation: Authorized shares: 30,000 Issued shares: 25,000 Treasury shares: 5,000 How many shares are outstanding?
A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: a. Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. If an amount box does not require an entry, leave it blank. 18 b. Sold 500 shares of treasury stock at $15. If an amount box does not require an entry, leave it blank. 8 c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank. d. Sold 500 shares of treasury stock at $11. If an amount box does not require an entry, leave it blank. E
Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the balance in the Treasury Stock account on August 2? O $2,600 Credit. O $1,200 Debit. O $5,050 Debit. O $1,200 Credit. O $100 Credit.
During its first year of operations, Blue Spruce Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 27,300 shares for cash at $4 per share. July 1 Issued 61,500 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $3 per share.
During its first year of operations, Culver Corporation had these transactions pertaining to its common stock. Jan. 10 Issued 26,800 shares for cash at $4 per share. July 1 Issued 59,000 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit (a) (b) >
Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the balance in the Treasury Stock account on August 2? O $2,600 O $1.200 O $2,000 O $5,050 79°F Rain to
During its first year of operations, Harlan Corporation had the following transactions pertaining to its common stock. – Jan. 10 Issued 70,000 shares for cash at $5 per share. – July 1 Issued 40,000 shares for cash at $7 per share. Instructions: – Journalize the transactions, assuming that the common stock has a par value of $5 per share. – Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. Note: Relevant account will Paid in Capital in Excess of Stated Value
A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: a. Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. If an amount box does not require an entry, leave it blank. b. Sold 500 shares of treasury stock at $15. If an amount box does not require an entry, leave it blank. c. Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. If an amount box does not require an entry, leave it blank. d. Sold 500 shares of treasury stock at $11. If an amount box does not require an entry, leave it blank.
A company issues 10,000 shares of its own $10 par value common stock to the public for $19 per share. Later, 1, 000 of these shares are bought for $21 per share as treasury stock. Which of the Losses on the resale of these shares would impact reported net income for the year although gains would not The par value method and the cost method have the same total impact on stockholders equity Because this is a stock transaction, retained earnings cannot be affected by a re - issuance of these shares
a company issued 500,000 of its 2 million shares of authorized common stock. at the end of the accounting period 450,000 shares are outstanding. how many shares of treasury stock does the company have? a) 0 b) 50,000 c) 1.5 million d) 450,000 i dont know how to figure this out? im guessing B because 500,000 + 450,000= 950,000 but i dont know if that makes it correct.
During its first year of operations, Cullumber Company had the following transactions pertaining to its common stock. Jan. 10 Issued 65,000 shares for cash at $5 per share. July 1 Issued 35,000 shares for cash at $8 per share. Journalize the transactions, assuming that the common stock has a par value of $5 per share. Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.
Ogilvie Corp. issued 30,000 shares of no-par stock for $40 per share. Ogilvie was authorized to issue 53,000 shares. What effect will this event have on the elements of the company's financial statements? Multiple Choice Increase assets and increase stockholders' equity by $2,120,000 Increase assets and increase stockholders' equity by $1,200,000 Increase cash inflows from investing activities by $1,200,000 None of these answer choices are correct.

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