On January 2, Year 1, Pfizer Drug Company a major manufacturer of generic drugs issued 20,000 shares of $10 par-value common stock for $11 per share. Which of the following statements is true? Multiple Choice The Cash account will increase by $200,000. The Additional Paid in Capital will increase by $20,000, Total stockholders' equity will increase by $200,000. The Common Stock account will increase by $220,00,
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- Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?On May 1, Laney Company purchases 4,000 shares of its own $1 par value stock for $24,000. Which statement is correct? Group of answer choices cash will be debited for $4,000 Additional paid-in capital (APIC) –treasury stock will be credited for $20,000 cash will be credited for $20,000 treasury stock will be debited for $24,000
- On January 2, Year 1, Torres Corporation issued 17,000 shares of $12 par-value common stock for $18 per share. Which of the following statements is true? 2 Multiple Choice The Paid-in Capital in Excess of Par Value account will increase by $102,000. The Cash account will increase by $204,000. Total stockholders' equity will increase by $204,000. The Common Stock account will increase by $306,000.On Jan. 2, Year 1, Pfizer Drug Company a major manufacturer of generic drugs issued 20,000 shares of $10 par value common stock for $11 per share. Which statement is true? A. The common stock account will increase by $220,000 B. The cash account will increase by $200,000 C. The Additional Paid in Capital will increase by $20,000 D. Total stockhdolders' equity will increase by $200,000If Baldwin issued 1000 shares of common stock at last year's end price $46.98 , the effect on the balance sheet would be: Select : 1 Retained earnings would increase by $46,984 Equity would decrease by $4,698 Equity would increase by $46,984 Retained earnings would increase by $4,698
- The stockholders' equity section of the balance sheet for Normal Outfitters' at December 31, 2022 follows: Common stock, $3 par, 30,000 shares authorized $84,000 Additional paid-in capital 176,400 Treasury stock, 1,400 shares at cost 39,620 Retained earnings Total stockholders' equity 105,000 What is the cost of the treasury stock per share? What is the value of total stockholders' equity? $? How many shares of common stock are issued? How many shares of common stock are outstanding? How many shares of common stock will receive dividends if dividends are declared? What was the average price received when the common stock was initially issued?A corporation purchases 8,002 shares of its own $10 par common stock for $15 per share, recording it at cost. What will be the effect on total stockholders' equity? a.increase by $40,010 b.increase by $120,030 c.decrease by $40,010 d.decrease by $120,030How would I Debit and Credit each of these? Jan. 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash. Feb. 15 Issued 4,000 shares of $80 par preferred 5% stock at $100, receiving cash. May 1 Issued $500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. 16 Declared a quarterly dividend of $0.50 per share on common stock and $1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held and 20,000 shares of preferred stock were outstanding. Journalize this transaction as two separate entries. 26 Paid the cash dividends declared on May 16. Jun. 1 Purchased 7,500 shares of Solstice Corp. at $40 per share plus a $150 brokerage commission. The investment is classified as an available-for-sale investment. 8 Purchased 8,000 shares of treasury common stock at $33 per share. 22 Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per…
- April 19 Issued 2,000 common shares at $16 per share. July 22 Declared and paid a cash dividend of $0.40 per common share (20,000 common shares outstanding). Nov 11 Issued 700 common shares at $18 per share. What was the overall effect of these transactions on Creative's shareholders' equity? * 2nd Last question image not showing but format it in the same way*em AEE npt in Progress At December 31, Swifty Corporation has total stockholders' equity of $3,080.000. Included in this total are preferred stock $468,000 and paid-in capital in excess of par-preferred stock $49,800. There are 10.100 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 220,000 shares of common stock are outstanding. (a) Your answer is partially correct. Compute the book value per share of common stock under each of the following assumptions. (Round answers to 2 decimal places, e.g. 15.25.) (b) There are no preferred dividends in arrears, and the preferred stock does not have a call price. Preferred dividends are one year in arrears, and the preferred stock has a call price of $60 per share. Book value per share LA (a) 11.70 tft (b) 11.06Beauty Island Corporation began operations in April by completing these transactions: Apr01... issued 60,000 shares of $5 par value common stock for cash at $13 per share. Apr19... issued 2,000 shares of common stock to attorneys in "payment" of their bill of $27,500 for organization costs. Apr20... issued 1,000 shares of $1 par value preferred stock for $6 cash per share. Journalize the issuing of common & preferred shares, (assuming shares are not publicly traded). Apr 01 Apr 19 Apr 20 The separation of paid-in capital from earned capital concerns the issue of “legal capital". "Legal" capital limits dividends to within total of retained earnings and any additional paid-in capital. "Capital" is categorized as "Paid-in" and "Earned". Paid-in capital (also called contributed capital) is provided by investors when they buy a company's initially issued shares. Earned capital is retained earnings, the accumulated income a company has earned since its inception. These distinctions only…