General Accounting Solve If total assets equal $336,000 and total owners' equityequals $115,500, then total liabilities must equal:A. $451,500B. $220,500C. Cannot be determined from the information givenD. $115,500Bonkers Co. issues 10,000 shares of $5 par value common stock for$150,000. The effect of this transaction is a:A. $150,000 increase in Common Stock account.B. $100,000 increase in Gain on Sale of Common Stock.C. $50,000 increase in Contributed Capital in Excess of Par.D. $50,000 increase in Common Stock account.On April 1, 2016, Maine Corporation paid $9,300 cash inadvance for a one-year lease on an office building. Assumethat Maine records the prepaid rent as an asset and that thebooks are closed on December 31.Show the payment for the one-year lease and the relatedadjusting entry to recognize rent expense in the accountingequation.

Question 1: If total assets = $336,000 and total owners' equity = $115,500, what are total…

Answered: If total assets equal $336,000 and…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 5MCQ

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Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.
1. What amount should be reported as basic earnings per share?a. 6.00b. 5.50c. 5.00 2. What amount should be reported as diluted earnings per share?a. 6.88b. 6.11c. 5.24
A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,000. A debit to Cash for $135,00.
The balance sheet caption for common stock is the following: Common stock, $2 par value, 2,070,000 shares authorized, 1,310, 000 shares issued, 1,050,000 shares outstanding $? Required: a. Calculate the dollar amount that will be presented opposite this caption. b. Calculate the total amount of a cash dividend of $0.27 per share. c. What accounts for the difference between issued shares and outstanding shares? a. Amount b. Cash dividend c. Difference between issued shares and outstanding shares
Subject- account
6. The following is a list of selected account balances taken from the December 31, 2021, general ledger of Selecta Corp. Account Payable 50,000 Accounts Receivable 45,500 Ordinary Share Capital 126,000 Paid in Capital in Excess of Par –Ordinary Share Capital 110,500 Paid in Capital in Excess of Par – Preferred Share Capital 10,250 Preference Share Capital 58,000 Preference Share capital Subscribed 6,000 Retained Earnings 20,500 Subscription Receivable –Preference 10,500 Compute first for the total paid-in capital then proceed to total stockholder’s equity for Selecta Corp. On December 31, 2021.
.. From the following, calculate (a) Debt-Equity Ratio (b) Total Assets to Debt Ratio Equity Share Capital $75,000 Share application money pending allotment $25,000 General Reserve $45,000 Balance in the Statement of Profit & Loss $30,000 Debentures $75,000 Trade Payables $40,000 Outstanding Expenses $10,000
You have the following information about Trisha Company: total asset =P350,000; common stock equity = P175,000; Return on Equity (ROE) =12.5%. What is Trisha’s earnings available for common stockholders? A. P21,875B. P43,750C. P50,000D. P47,632
KA.
Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet
Required information [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid The common stock was sold at a price of $36 per share. Required: 1. What is the amount of additional paid-in capital? $ 515,000 $ 890,000. Additional paid-in capital $ 1,110,000 103,000 64,000 $ 770,000

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