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Intermediate Accounting Quiz # 3 Group# Date: Name: Mejarus Co.'s adjusted trial balance at December 31, 2001, includes the following account balances: Common Stock, $3 par.................................... $ 360,000 Additional PaidIn Capital.................................. 480,000 Treasury Stock, at cost.................................... 30,000 Net Unrealized Loss on Available-for- Sale Securities.............................................. 12,000 Retained Earnings: Appropriated for Uninsured Earthquake Losses..................... 90,000 Retained Earnings: Unappropriated................ 120,000 What amount should Mejarus report as total stockholders' equity in its December 31, 2001, balance sheet? Hogi-Yogi Co. has total debt of $252,000 and stockholders' equity of $420,000. Hogi-Yogi is seeking capital to fund an expansion. Hogi-Yogi is planning to issue an additional $180,000 in common stock, and is negotiating with a bank to borrow additional funds. The bank requires a maximum debt ratio of .75. What is the maximum additional amount Hogi-Yogi will be able to borrow after the common stock is issued? The accounts and balances shown below were gathered from Paynter Corporations trial balance on December 31, 2001. All adjusting entries have bee made Wages Payable.. $ 25,600 Cash. 17,700 Mortgage Payable.Mortgage Payable.... View Full Document

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