Accounting

If common stock is issued for an amount greater than par value, the excess should be credited to Answer Retained Earnings. Cash. Legal Capital. Paid-in Capital in Excess of Par Value. Place Your Order Here!

How is treasury stock shown on the balance sheet? Answer as an asset as a decrease in stockholders’ equity as an increase in stockholders’ equity treasury stock is not shown on the balance sheet Place Your Order Here!

Characteristics of a corporation include Answer shareholders who are mutual agents direct management by the shareholders (owners) its inability to own property shareholders who have limited liability Place Your Order Here!

A restriction/appropriation of retained earnings Answer decreases total assets increases total retained earnings decreases total retained earnings has no effect on total retained earnings Place Your Order Here!

What is the amount of revenue realized from the sale? A corporation purchased 1,000 shares of its $5 par common stock at $10 and subsequently sold 500 of the shares at $20. What is the amount of revenue realized from the sale? Answer $0 $5,000 $2,500 $10,000 Place Your Order Here!

The journal entry to record the stock issuance would include a credit to Common Stock for A corporation issues 1,500 shares of common stock for $ 32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Answer $15,000

value of the stock after the split A corporation has 50,000 shares of $25 par value stock outstanding that has a current market value of $120. If the corporation issues a 5-for-1 stock split, the par value of the stock after the split will be: Answer $5 $60 $25 $24 Place Your Order Here!

market value of the stock after the split A corporation has 50,000 shares of $25 par value stock outstanding that has a current market value of $150. If the corporation issues a 5-for-1 stock split, the market value of the stock after the split will be approximately: Answer $25 $150 $5 $30 Place Your Order

Question 1 A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 4% stock dividend on a date when the market price was $12 a share. What is the amount transferred from the Retained Earnings account to Paid-in Capital accounts as a result of

Identify impairment situations and describe the two-step impairment process.   Impairment is a two-step process. Step 1: __________ The long-term asset is impaired if future cash flows are less than book value. Step 2: If impaired, record loss: The impairment loss is the amount book value exceeds fair value. IFRS see difference from GAAP,  page 347   Practice:  Northwest