In a 4 for 1 stock split the par value of the common

This preview shows page 12 - 15 out of 35 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 20 / Exercise 5
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified
51.In a 4-for-1 stock split, the par value of the common stock:a)remains the sameb)is 400% of the original par valuec)is 25% of the original par valued)is 200% of the original par valuec
L.O. 2ModeratePage: 54552.In a 2-for-1 stock split, the balance in the common stock account:
L.O. 2ModeratePage: 545143
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 20 / Exercise 5
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified
53.A corporation reacquires 200 shares of its $5 par common stock initially issued for $6 per share for $8 per share. The entry to record the reacquisition requires a debit to:
L.O. 3ModeratePage: 54554.A corporation reissues 20 shares of treasury stock costing $10 per share for $11 per share. The par value of the stock is $8 per share. The journal entry to record the reissuance requires a credit to:
L.O. 3ModeratePage: 54555.Treasury stock:a)causes issued shares to exceed authorized sharesb)causes outstanding shares to exceed issued sharesc)causes outstanding shares to exceed authorized sharesd)causes outstanding shares to be less than issued shares
dL.O. 3ModeratePage: 54556.The purchase of treasury stock:
aL.O. 3EasyPage: 54557.The treasury stock account is shown on the balance sheet as a(n):
L.O. 3EasyPage: 545144
CHAPTER 14Retained Earnings, Treasury Stock, and the Income StatementTable 6Following is the stockholders’ equity section of the balance sheet of Red Corporation:Paid-in capital:Preferred stock, 5%, cumulative $50par, 35,000 shares authorized,7,000 shares issued $ 350,000Common stock, $5 par, 140,000 shares authorized, 50,000shares issued250,000Paid-in capital in excess of par-common202,500Total paid-in capital$ 802,500Retained earnings204,500Total stockholders’ equity$1,007,00058.Refer to Table 6. The entry to record Red’s purchase of 10,000 shares of its common stock at $75 per share includes a:
L.O. 3ModeratePage: 545

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture