Exercise 11-11A Issuing stock for assets other than cash LO 11-4Tom Yuppy, a weathy investor, exchanged a plot of land that originally cost him $26,520 for 1020 shares of $10 par common stockissued to him by Leuig Corp. On the same date, Leuig Corp. issued an additional 2.040 shares of stock to Yuppy for $26 per share.Requireda. What was the value of the land at the date of the stock issue?Value of the landb. Show the effect of the two stock issues on Leuig's books in a horizontal statements model. in the Cash Flow column, indicatewhether the item is an operating activity (OA), investing activity (A), or financing activity (FA). Use NA to indicate that an element wasnot affected by the eventIntome StatemantExpense Net IncomeBalance SheetAssetsStockholder EqutyRevenueCash FlowEventCommanSteckPIC inExcessCashLand1-Exchange of land for shares2- lue of adotional shares

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Answered: Exercise 11-11A Issuing stock for…

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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Problem 4-05 A year ago, Kim Altman purchased 250 shares of BLK, Inc. for $40.00 on margin. At that time the margin requirement was 50 percent. If the interest rate on borrowed funds was 9 percent and she sold the stock for $48.50, what is the percentage return on the funds she invested in the stock? Round your answer to two decimal places
Problem 15-2A Recording, adjusting, and reporting available-for-sale debt securities LO P3 Skip to question [The following information applies to the questions displayed below.] Mead Inc. began operations in Year 1, following is a series of transactions and events involving its long-term debt investments in available-for-sale securities. Year 1 Jan. 20 Purchased Johnson & Johnson bonds for $25,000. Feb. 9 Purchased notes of Sony for $59,490. June 12 Purchased bonds of Mattel for $45,000. Dec. 31 Fair values for debt in the portfolio are Johnson & Johnson, $26,900; Sony, $49,050; and Mattel, $55,950. Year 2 Apr. 15 Sold all of the bonds of Johnson & Johnson for $28,000. July 5 Sold all of the bonds of Mattel for $39,000. July 22 Purchased notes of Sara Lee for $17,100. Aug. 19 Purchased bonds of Kodak for $18,450. Dec. 31 Fair values for debt in the portfolio are Kodak, $18,900; Sara Lee, $16,500; and Sony,…
P 8 %24 %24 %24 eBook Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $250,000 of bonds, on which there was $2,500 of unamortized discount, for $260,000. b. Sold 12,000 shares of $20 par common stock for $47 per share. C. Sold equipment with a book value of $66,400 for $95,600. d. Purchased Iland for $410,000 cash. e. Purchased a building by paying $91,000 cash and issuing a $90,000 mortgage note payable. f. Sold a new issue of $240,000 of bonds at 98. g. Purchased 4,900 shares of $35 par common stock as treasury stock at $64 per share. h. Paid dividends of $1.90 per share. There were 18,000 shares issued and 3,000 shares of treasury stock. Effect Amount a. Cash payment b. $4 Cash receipt Cash receipt Cash payment d. Cash payment f. Cash receipt Cash payment g. h. Cash payment Previous Check My Work 2 more Check My Work uses remaining. dp insert %3D %3D…
8:08 AMO Chegg Home Expert Q&A My solutions Hide student question Student question KB/s O stated value of the stock. O market price of the stock. O book value of the stock. O par value of the stock. Skip question Exit Vo LTE When a plant asset is acquired by the issuance of common stock and the fair value of the plant asset is not clearly determinable, the cost of the plant asset is properly measured by the stated value of the stock. market price of the stock. book value of the stock. par value of the stock. Back 4G Next When a plant asset is acquired by the issuance of common stock and the fair value of the plant asset is not clearly determinable, the cost of the plant asset is properly measured by the 80 Notifications Time Left: 01:59:22 8 v Submit your solution
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BUS 208 - Principles of Accounting II Homework Assignment 1 Chapter 12 Karen Smith and Abby Jones formed a partnership, investing $250,000 and $125,000, respectively. Determine their participation in the year's net income of $420,000 under each of the following independent assumptions. Please show your calculations. a. No agreement concerning division of net income. b. Divided in the ratio of original capital investment. c. Interest at the rate of 4% allowed on original investments and the remainder divided in the ratio of 4:1. d. Salary allowances of $50,000 and $60,000, respectively, and the remainder divided equally. e. Allowance of interest at the rate of 5% on original investments, salary allowances of $40,000 and $80,000 respectively and the remainder divided equally. Show your work.
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Moule 6 Question 7 The Barryman Drilling Company is planning on repurchasing $1.13 million worth of the company's 460,000 shares of stock, which is currently trading at a price of $11.31per share. Stan Barryman is the founder of the company and still holds 16,000 shares of company stock that he originally purchased for $7.72 per share. If Stan decides to sell 2,100 of his shares for $11.31 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Part 1Stan's after-tax proceeds from the sale are $enter your response here.

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