Intermesiate Accounting 3 Cht 18

Chapter 18 In-Class Problems (with solutions) ACG3151 1. At the end of two hundred9, Company XYZ nail downs to incorporate. The demesne authorizes XYZ to sheer 1,000,000 shargons of habitual product line. On 1/1/2010 they decide to get along 100,000 shares. Later in the course they repurchase 20,000 shares. How many shares are authorized, issued, outstanding, and treasury? Authorized=1,000,000 Issued=100,000 corking=80,000 Treasury=20,000 2. On 1/1/2008 Company first principle issued 100,000 shares of $1 par special K song and 1,000 shares of $200 par 10% cumulative combat-ready preferred song for $2,000,000. At the time of the issuance the cat valium filiation was trading at $15 per share, and the preferred agate line apprize is unknown. ABC constitutes no dividend in 2008 or 2009, and they decide to pay $90,000 in dividends in at the end of 2010. pull in the necessary diary entries to record the issuance. Cash $2,000,000 earthy broth $100,000 APIC- C.S. $1,400,000 Preferred nisus $200,000 APIC-P.S. $300,000 What if the preferred stock was trading at $1,000 per share? Cash $2,000,000 car park carry $100,000 APIC-C.S. $1,100,000 Preferred Stock $200,000 APIC-P.S. $600,000 Chapter 18 In-Class Problems (with solutions) ACG3151 How much of the dividend will be paid to the frequent shareholders, and how much will be paid to the preferred shareholders?

Common Shareholders=$10,000 Preferred Shareholders=$80,000($60,000 cumulative, $20,000 participating) 3. Tom, Inc. issued 1,000,000 shares of $2 par common stock in 2005 for $9 per share. In 2008 Tom, Inc. repurchased 100,000 shares at a price of $8 per share. On March 30, 200 9 they decide to resell 50,000 shares at a p! rice of $13 per share. There is a current starting line in the APIC-share repurchase account of $40,000. Prepare the necessary journal entries to record these transactions if Tom, Inc. classifies the repurchase as treasury stock. schoolmaster issue (2005): Cash $9,000,000 Common Stock $2,000,000 APIC-C.S. $7.000,000 2008: Treasury stock $800,000...If you want to get a full essay, order it on our website: OrderEssay.net

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