Questions from College Accounting

Q: The following is the Paid-In Capital section of stockholders’ equity

The following is the Paid-In Capital section of stockholders’ equity for the Akebono Corporation on June 1, 201X: The following transactions occurred in the months of June and July...

Q: Dirkson Corporation has 20,500 shares outstanding of $12 par

Dirkson Corporation has 20,500 shares outstanding of $12 par value, 7% preferred stock, and 41,000 shares outstanding of $12 par-value common stock. In its first 5 years of operation, the company paid...

Q: From the following partial mixed list, select the appropriate titles and

From the following partial mixed list, select the appropriate titles and prepare a stockholders’ equity section using the source-of-capital approach as shown in the Blueprint example for Argon Corpora...

Q: Lynch Corporation was just issued a charter by the state of New

Lynch Corporation was just issued a charter by the state of New York. This charter gives Lynch the authority to issue 350,000 shares of $6 par-value common stock. From the following transactions: 1. P...

Q: The stockholders’ equity of Franklin Company is as follows:

The stockholders’ equity of Franklin Company is as follows: Given a redemption value of $109 per share for the preferred stock, calculate the book value per share of preferred and...

Q: Rondo Corporation has 430,000 shares of $6 par-

Rondo Corporation has 430,000 shares of $6 par-value common stock issued and outstanding. Record the following entries into the general journal for Rondo:

Q: At the beginning of January 201X, the stockholders’ equity of Long

At the beginning of January 201X, the stockholders’ equity of Long View Corporation consisted of the following: 1. Record the transactions in general journal form. 2. Prepare the s...

Q: Journalize the following transactions: a. Issued five $10

Journalize the following transactions: a. Issued five $10,000, 9% bonds that mature in 10 years at face value on September 1. b. Paid semiannual interest on February 28. c. Bonds retired at end of 10...

Q: The following is the stockholders’ equity of Pinkerton Corporation on October 1

The following is the stockholders’ equity of Pinkerton Corporation on October 1, 201X: 1. Journalize the transactions in general journal form. 2. Prepare the stockholdersâ
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Q: On January 1, 201X, Lonny Corporation sold $400,

On January 1, 201X, Lonny Corporation sold $400,000 of 10%, 10-year bonds at 97. Interest is to be paid on June 30 and December 31. The straightline method of amortizing the discount is used. Prepare...