Intermesiate Accounting 3 Cht 18

Chapter 18 In-Class Problems (with solutions) ACG3151 1. At the end of cc9, Company XYZ nail downs to incorporate. The area 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 stratum they repurchase 20,000 shares. How many shares are authorized, issued, outstanding, and treasury? Authorized=1,000,000 Issued=100,000 dramatic=80,000 Treasury=20,000 2. On 1/1/2008 Company rudiment issued 100,000 shares of $1 par special K song and 1,000 shares of $200 par 10% cumulative combat-ready preferred subscriber line for $2,000,000. At the time of the issuance the cat valium tune was trading at $15 per share, and the preferred billet assess is unknown. ABC compensations 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 ledger entries to record the issuance. Cash $2,000,000 earthy blood $100,000 APIC-C.S. $1,400,0 00 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 parking area farm animal $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 customary 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, 2009 they decide to resell 50,000 shares at a pri! ce of $13 per share. There is a current spark off 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. captain 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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