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- Rolive, 1B Handout B. 500 shares of common stock, par value $10, is sold for $25 per share. Аccount Dr. Cr.no chagpt answers Marty Market owns 200 shares of Light Bulb Utility. The company pays a $6 per share dividend and the share price is $ 156. How many shares would Marty need to sell to create a homemade dividend of $15 per share?On February 11, Year 1, an individual 100 shares of stock at $10 per share. On June 11, Year 2, the individual sold the same 100 shares at $7 per share. What is the character of gain or loss on the sale? $300 long-term capital gain. $300 long-term capital loss. $300 short-term capital gain. $300 short-term capital loss
- An investor purchased 500 shares of common stock, $25 par, for $19,250. Subsequently, 100 shares were sold for $35 per share. What is the amount of gain or loss on the sale?5. The Preferred Shares account has a balance of $100,000. There are 500 convertible preferred shares, each convertible to 4 common shares. On a day that the preferred shares have an average cost of $200 and a market value of $230, one half of the preferred shares are converted to common shares. Common shares are trading at $60. Which statement is true? a. Retained Earnings will be debited by $2,500. b. The Common Shares account will be credited for $50,000. C. An income statement account, Loss on Conversion, will be debited by $2,500. d. The Common Shares account will be credited for $60,000.QUESTION 4 Emma Consulting had previously purchased 3,466 shares of treasury stock for $7 per share. Emma then sold 1,225 shares of the treasury stock for $13 per share. The credit to treasury stock to record the sale would be $
- Question 3 Zion has 121 shares of company LMN stock. LMN issued dividend payments every quarter that totaled $1.19 per share for the entire year. The current price for LMN stock is $34.87 per share. What is the current dividend yield for LMN stock? Round your answer to the hundredth of a percent. Input just the number. Do not input the percent sign. Do not use a comma. Example: 3.27Accounting for Common, Preferred, and Treasury Stock A-Team Corporation issued 1.000 shares of $5 par value stock for land. The stock is actively traded at $9 per share. The land was advertised for sale at $10,500. The land should be recorded at $9,000. O $5,000. $4,000. O $10.500.D. February 2 Issue 1.5 million shares of common stock for $15 per share. February 4 Issue 400,000 shares of preferred stock for $24 per share. June 15 Purchase 150,000 shares of its own common stock for $10 per share. August 15 Resell 112,500 shares of treasury stock for $25 per share. November 1 Declare a cash dividend on its common stock of $1.50 per share and a $400,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list ces Journal entry worksheet 1 Record the issuance of 1.50 million shares of common stock for $15 per share. Note: Enter debits before credits. Date General Journal Debit Credit February 02, 2021
- Item No. 3 is based on the following information: Howing led Leon Corporation sold 500 shares of its P 40 par value preference shares for cash at P 50 per share. 3. In recording this transaction, there would be a: 23510HD 3 a. Credit to Preference Share Capital for P 20,000. b. Credit to Preference Share Capital for P 25,000. open no bsand 21 I.oM matt Credit to Preference Share Capital in Excess of Stated Value for P 5,000. C. d. Credit to Subscribed Preference Share Capital for P 20,000.1. Rights and privileges of common stockholders Larry Nelson holds 1,000 shares of General Electric (GE) common stock. As a stockholder, he has the right to be involved in the election of its directors, who are responsible for managing the company and achieving the company’s objectives. True or False: Larry will receive dividends together with preferred stockholders. False True Larry also holds 2,000 shares of common stock in a company that only has 20,000 shares outstanding. The company’s stock currently is valued at $45.00 per share. The company needs to raise new capital to invest in production. The company is looking to issue 5,000 new shares at a price of $36.00 per share. Larry worries about the value of his investment. Larry’s current investment in the company is(numbers ) . If the company issues new shares and Larry makes no additional purchase, Larry’s investment will be worth (Numbers) . This scenario is an example of (Proxy,…14. Rogelio sold 200 common shares of stock of Gibsons Corporation at P115 per share. Its books of accounts showed the following record of purchases of common shares: Date Purchases January 24, 2016 February 5, 2016 April 20, 2016 200 shares at P100 per share 200 shares at P110 per share Received 5% stock dividends If the costing of the shares is based on the moving average method, the gain on the sale of the shares is: P 3,000 1,000 None a. С. b. 2,000 d. 15. If the costing of the shares above are based on the first-in first-out method, the gain on the sale of the shares is: P 3,000 2,000 a. 1,000 3,954 С. b. d. CS Scanned with CamScanner
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