Business, 19.06.2020 10:57 modelingavakin
The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013.
Current assets $541,000
Debt investments 655,000
Common stock (par value $10) 660,000
Paid-in capital in excess of par 153,500
Retained earnings 869,000
Prepare the required journal entries for the following unrelated items. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(a) A 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $32.
(b) The par value of the common stock is reduced to $2 with a 5-for-1 stock split.
(c) A dividend is declared January 5, 2014, and paid January 25, 2014, in bonds held as an investment. The bonds have a book value of $94,020 and a fair value of $126,720.
Answers: 1
Business, 22.06.2019 13:10
Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock
Answers: 1
Business, 22.06.2019 14:20
For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?
Answers: 3
Business, 22.06.2019 16:30
Suppose that electricity producers create a negative externality equal to $5 per unit. further suppose that the government imposes a $5 per-unit tax on the producers. what is the relationship between the after-tax equilibrium quantity and the socially optimal quantity of electricity to be produced?
Answers: 2
Business, 22.06.2019 17:40
Aproduct has a demand of 4000 units per year. ordering cost is $20, and holding cost is $4 per unit per year. the cost-minimizing solution for this product is to order: ? a. 200 units per order. b. all 4000 units at one time. c. every 20 days. d. 10 times per year. e. none of the above
Answers: 3
The following data were taken from the balance sheet accounts of Masefield Corporation on December 3...
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