Questions from College Accounting

Q: Nicole Corporation was authorized to issue 32,000 shares of common

Nicole Corporation was authorized to issue 32,000 shares of common stock. Record the journal entry for each of the following independent situations, assuming Nicole issues 6,000 shares at $17 on July...

Q: On January 1, 201X, Friendly Corporation issued on a subscription

On January 1, 201X, Friendly Corporation issued on a subscription basis 1,030 shares of $52 par-value common stock at $92 per share. Two equal installments were to be made on July 1 and December 31. P...

Q: Market Corporation began its business on January 1, 201X. It

Market Corporation began its business on January 1, 201X. It sold at $33 per share 5,700 shares of no-par common stock with a stated value of $23 per share. The charter of Market indicated 35,000 shar...

Q: From the following information, determine the book value per share for

From the following information, determine the book value per share for preferred and common stock assuming $14,400 of dividends are in arrears on the preferred stock. Stockholders’ Equity Preferred 1...

Q: Given the following stockholders’ equity: Common Stock, $

Given the following stockholders’ equity: Common Stock, $4 par value, authorized 98,000 shares, 77,000 shares issued and outstanding ……â...

Q: From the following, prepare in proper form a statement of retained

From the following, prepare in proper form a statement of retained earnings for Yvette Company for the year ended December 31, 2015.

Q: What is the difference between the articles of incorporation and a charter

What is the difference between the articles of incorporation and a charter?

Q: On January 1, 201X, Parino Corporation issued $800,

On January 1, 201X, Parino Corporation issued $800,000 of 8%, 10-year bonds to lenders at par (100). Interest is to be paid semiannually on July 1 and January 1. Journalize the following entries: a....

Q: Smith Corporation issued $320,000 of 4%, 25-

Smith Corporation issued $320,000 of 4%, 25-year bonds at 91 on November 1, 201X, with semiannual interest payable on November 1 and May 1. Amortization of discount is by the straight-line method. Rec...

Q: Redo the journal entries for Exercise 20B-3, assuming that

Redo the journal entries for Exercise 20B-3, assuming that bonds sold at 107. Exercise 20B-3: Smith Corporation issued $320,000 of 4%, 25-year bonds at 91 on November 1, 201X, with semiannual intere...