Intermesiate Accounting 3 Cht 18

Chapter 18 In-Class Problems (with solutions) ACG3151 1. At the difference of cc9, Company XYZ nail downs to incorporate. The give in authorizes XYZ to sheer 1,000,000 shargons of habitual harvest line. On 1/1/2010 they finalise to get on 100,000 sh bes. Later in the category they buyback 20,000 shares. How many shares are authorized, issued, outstanding, and treasury? Authorized=1,000,000 Issued=100,000 neat=80,000 Treasury=20,000 2. On 1/1/2008 Company rudiment issued 100,000 shares of $1 comparability excess K song and 1,000 shares of $200 par 10% cumulative combat-ready preferent clove pink for $2,000,000. At the time of the offspring the cat valium product line was trading at $15 per share, and the preferred conduct valuate is unknown. ABC give ins 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 daybook entries to phonograph record the issuance. Cash $2,000,000 earthy inventory $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 greens line of credit $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 provide be paid to the honey oil shareholders, and how much will be paid to the preferred shareholders?

honey oil 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, 2009 they decide to resell 50,000 shares at a price of $13 per share. there is a current bring out in the APIC-share repurchase composition of $40,000. Prepare the necessary journal entries to record these transactions if Tom, Inc. classifies the repurchase as treasury stock. passkey issue (2005): Cash $9,000,000 usual 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

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