Question

a corporation purchases 120,000 shares of its own $25 par common stock for 1,250,000 recording it at cost. the purchase will increase expenses? true or false

Answer 1

Yes It will increase expense. The transaction is going to be recorded in income/expense account as an expense.

Answer 2

thank you. how about this one. a corporation purchases 120,000 shares of it's own $25 par common stock for 1,250,000 recording it at cost. the purchase will decrease total assets? true or false

Answer 3

False, The assets will remain the same. The cash balance will decrease, however, the stocks and equity account will increase.

Answer 4

the assets will decrease if the stock value decreases at the time of closing books which is irrelevant to your question lol

Answer 5

a corporation's outstanding stock is composed of 20,000 shares of $5 preferred and 100,000 shares of common $25 par. at the end of its 1st year of operations, a total of $100,000 in dividends is to be distributed. the total amount of the dividends paid on the preferred stock is?

Answer 6

sorry cant help you with that....

Answer 7

lets try this one. state the effect of the declaration and payment of a cash dividend on accounts payable. a, increase b decrease c no effect or d limited

Answer 8

increase in account payable. But hey this is math lab, and you just got lucky that I am an account major lol or else you wont find much help here

Answer 9

I am lucky!!! state the net effect of the declaration and payment of a cash dividend on retained earnings. a increase b decrease c no effect or d limited

Answer 10

decrease in retained earnings.
btw im curious what level of accounting are you studying ?

Answer 11

I am in accounting II and I get some of it just not all of it. I struggle with some parts. State the net effect of the declaration and payment of a cash dividend on total stockholders equity. a increase b decrease c no effect or d limited

Answer 12

i think it is C but not sure. Since stockholders will still have the same amount of stock after or before recieving dividend.

Answer 13

k how about this one state the net effect of the declaration and payment of a cash dividend on cash. a increase b decrease c no effect or d limited

Answer 14

decrease. The cash balance will decrease when the company gives away dividends.

Answer 15

how about you click on good answer on all of my replys lol

Answer 16

where are you a major? organization cost is
a, asset b liability c stockholder equity d revenue or e expense

Answer 17

E
expense

Answer 18

paid in capital in excess of par preferred stock is an
a, asset b liability c stockholder equity d revenue or e expense

Answer 19

B I guess

Answer 20

preferred stock is

a, asset b liability c stockholder equity d revenue or e expense

Answer 21

This one is complicated. for a corporate i think its liability, but if corporate bought the preferred stocks it will be asset.

Answer 22

this one tripped me up treasury stock is an
a, asset b liability c stockholder equity d revenue or e expense

Answer 23

its actually a contra account, but since that is not an option, it will be considered as an asset

Answer 24

last one you have been a life saver!! the excess of issue price over par of common stock is termed a premium? true or false

Answer 25

true. if the actual stock value is 25 and you sell it for anything over that, your revenue will increase

Answer 26

hold on, idk if it is termed as premium lol

Answer 27

lol k

Answer 28

i got the answer for that other one. declaring a cash divided has the effect of decreasing total assets? true or false

Answer 29

dude I need a medal seriously lol

Answer 30

false

Answer 31

i am gonna get one

Answer 32

the liabiltiy of the stockholders of a corporation is usually __________ with respect to debts owed by the corporation

a unlimited b increased c unkown or d limited

Answer 33

d

Answer 34

you rock. thank you so much!

Answer 35

how much did you score ?

Answer 36

i have to figure out like three more. you want them lol

Answer 37

shoot it....

Answer 38

a corporation with 50,000 shares of common stock issued, of which 5,000 shares are held as treasury stock, declares a cash dividend of $4 a share. the total amount of the dividend is $

Answer 39

180000

Answer 40

k a corporations outstanding stock is composed of 20,000 share of $5 preferred and 100,000 shares of common $25 par. at the end of it first year of operations, a total of $ 100,000 in dividends is to be distributed. the total amount of the dividends paid on the common stock is $

Answer 41

You asked this before lol, im not sure about this one

Answer 42

lol they both look alike . retained earnings is a
a asset b liability c stockholder equity d revenue or e expense

Answer 43

asset

Answer 44

k i just have to find or work out the problem for the two you don't know. i will let you know the grade =0)

Answer 45

hope you get a good grade or else you will steal my medals lol

Answer 46

lmao i am sure i will.

Answer 47

lol