In a business combination where a subsidiary retains its
incorporation and which is accounted for under...
In a business combination where a subsidiary retains its
incorporation and which is accounted for under the acquisition
method, how should stock issuance costs and direct combination
costs be treated? Multiple Choice Stock issuance costs and direct
combination costs are expensed as incurred. Direct combination
costs are ignored, and the stock issuance costs result in a
reduction to additional paid-in capital. Direct combination costs
are expensed as incurred and stock issuance costs result in a
reduction to additional paid-in capital....
If Dakota Company issues 2,100 shares of $5 par common stock for
$46,200,
a) Common Stock...
If Dakota Company issues 2,100 shares of $5 par common stock for
$46,200,
a) Common Stock will be credited for $46,200.
b) Paid-In Capital in Excess of Par will be credited for
$10,500.
c) Paid-In Capital in Excess of Par will be credited for
$35,700.
d) Cash will be debited for $10,500.
For the entries below, identify the account to be debited and
the account to be credited....
For the entries below, identify the account to be debited and
the account to be credited. Indicate which of the accounts is the
income statement account and which is the balance sheet account.
Assume the company records prepayments of expenses in asset
accounts, and cash receipts of unearned revenues in liability
accounts.
Entry to record wage expenses incurred but not yet billed or
recorded.
Entry to record services revenue earned but not yet billed or
recorded.
Entry to record consulting...
1. If Briggs and Stratton Company issues 9000 shares of $5 par
value common stock for...
1. If Briggs and Stratton Company issues 9000 shares of $5 par
value common stock for $160,000, the account
a) Common Stock will be credited for $45,000
b) Paid-In Capital in Excess of Par will be credited for
$160,000
c) Cash will be debited for $115,000
d) Paid-in Capital in Excess of Par will be credited for
$45,000
2. Airstream Company purchases 400 shares of its own $10 par
value common stock for $27 per stock per $29 per share....
Lionworks, Inc. issues ,500 shares of$42 par common
stock for $47 per share. The amount credited...
Lionworks, Inc. issues ,500 shares of$42 par common
stock for $47 per share. The amount credited to paid?in capital in
excess of par? is:
A.
$164,500.
B.
?$0.
C.
$147,000.
D.
$17,500.
Kramer and Associates has the following account balances
listed in alphabetical? order:
Accumulated? Depreciation,
$23,000?;
Accounts? Payable,
$10,500?,
Accounts? Receivable,
$9,000?; Cash,
$2,000?; Equipment,
$44,000?, Land,
$21,000?,
Mortgage? Payable,
$50,000?;
Prepaid? Insurance,
$9,500?; Supplies,
$1,000?;
Unearned? Revenue,
$6,000?;
Wages? payable, $2,000. Kramer
and? Associates'
long?term assets?
are:
A....
Prepare journal entries for stockholders' equity
transactions
A partial list of the ledger accounts of Skyway...
Prepare journal entries for stockholders' equity
transactions
A partial list of the ledger accounts of Skyway Corporation is
shown below, followed by a list of transactions. Indicate the
accounts that would be debited and credited in recording each
transaction.
1 cash
2 land
3 organization costs
10 dividends payable
20 preferred stock, 100 par
21 common stock $10 par
25 additional paid in capital
26 dontated capital
30 retained earnings
40 income summary
Transactions
Account(s) Debited
Account(s) Credited
Example: Issued...
On October 1, 2015, Para Company purchased 90% of the
outstanding common stock of Star Company...
On October 1, 2015, Para Company purchased 90% of the
outstanding common stock of Star Company for $202,700. Additional
data concerning Star Company for 2015 follows:
Common stock
$65,500
Other contributed capital
28,700
Retained earnings, 1/1
76,100
Net income
57,000
Dividends declared and paid (12/15)
10,300
Any difference between book value and the value implied by the
purchase price relates to goodwill. Para Company uses the partial
equity method to record its investment in Star Company.
(a)
Prepare on Para...