Stock Issuance and Treasury Stock Diva, Inc. recorded the following capital stock transactions: Balance Sheet - Liabilities + Stockholders' Equity Assets Common PIC in Excess of Treasury PIC from Stock + Common Stock + Stock + Treasury Stock (1) 1,048,800 110,400 938,400 (2) (107,800) (107,800) (3) 87.360 73,920 13,440 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $38 cash per share (2) purchased treasury shares at $44 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? o b. What was the par value of the shares issued? $ 0 c. How many shares of treasury stock were acquired? o d. How many shares of treasury stock were sold? 0 e. At what price per share was the treasury stock sold? $ 0

Stock Issuance and Treasury Stock Diva, Inc. recorded the following capital stock transactions: Balance Sheet - Liabilities + Stockholders' Equity Assets Common PIC in Excess of Treasury PIC from Stock + Common Stock + Stock + Treasury Stock (1) 1,048,800 110,400 938,400 (2) (107,800) (107,800) (3) 87.360 73,920 13,440 Use the following additional information about the above transactions when answering questions a through e. (1) issued common stock for $38 cash per share (2) purchased treasury shares at $44 per share. (3) sold some of the treasury shares: a. How many shares were originally issued? o b. What was the par value of the shares issued? $ 0 c. How many shares of treasury stock were acquired? o d. How many shares of treasury stock were sold? 0 e. At what price per share was the treasury stock sold? $ 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following formulas is correct regarding the different status of shares of stock: authorized shares, issued shares, outstanding shares, and treasury shares? a. Issued - Treasury = Outstanding %3D b. Issued + Treasury - Authorized C. Authorized + Treasury = Issued d. Issued + Outstanding + Treasury Authorized
Oo.135. Subject :- Account
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The shares of stock sold to investors are Select one: a. Treasury shares. b. Authorized shares. c. Issued shares. d. Outstanding shares. A firm that sold one share of $1 par value common stock for $10 would Select one: a. Debit common stock for $1. b. Debit common stock for $10. c. Credit common stock for $1. d. Credit common stock for $10. For a bond issued at par, the cash received upon issue equals the present value of the bond’s Select one: a. Principal repayment minus the interest payments. b. Principal repayment and interest payments. c. Principal repayment. d. Interest payments.
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The stockholder's equity section of the balance sheet contains. .common stock .preferred stock .Additional stock .other accumulated comprehensive income. .Retained earnings It is important to understand how changes in the accounts impact the balance sheet and the financial position of the organization Genaing inc.has $200,000 of 5%, $10 par value preferred stock and $450,000 of $5 par value common stock issued and outstanding Dec. 31,2021 There were no stock issuance, stock splits or stoxk dividends for 2021. The organization's calender end is on Dec.31 2021. Preferred stock did not receive any dividends for 2019 or 2020 because the company did not have enough cash reserves to pay out dividends. The preferred stock has a mix characteristics .10% of the preferred stock is noncumulative, nonparticipating .20% of the preferred stock is cumulative, nonparticipating .20% of the preferred stock is noncumulative ,participating .50 of the preferred stock is cumulative, participating The…
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Thoughtful Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2024: (Click the icon to view the partial balance sheet.) Read the requirements. Requirement 1. Identify the different classes of stock that Thoughtful Comfort Specialists has outstanding. Thoughtful has outstanding. common stock preferred stock preferred stock and common stock preferred stock and treasury stock Requirements 2. 1. Identify the different classes of stock that Thoughtful Comfort Specialists has outstanding. What is the par value per share of Thoughtful Comfort Specialists' preferred stock? 3. () Make two summary journal entries to record issuance of all the Thoughtful Comfort Specialists' stock for cash. Explanations are not required. 4. No preferred dividends are in arrears. Journalize the declaration of a $800,000 dividend at June 30, 2024, and the payment of the dividend on July 20, 2024. Use separate Dividends Payable accounts for preferred and common…