Question: Can you answer within 2hours? Ineed the answer untill 2:30 pm Roberson Corporation was organized on January 1, 2008, with authorized capital of750,000 shares of

Can you answer within 2hours? Ineed the answer untill 2:30 pm

Can you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answerCan you answer within 2hours? Ineed the answer
Roberson Corporation was organized on January 1, 2008, with authorized capital of750,000 shares of $10 par value common stock. During 2008, Roberson issued 30,0005hares at $12 per share, purchased 3,000 shares of treasury stock at $13 per share. and sold 3,000 shares of treasury stock at $14 per share. What is the amount of additional paidin capital at December 31, 2008? * \fJane, Ken, and Mark have partnership capital account balances of $225,000, $450.000and $105,000. respectively. The income sharing ratio is Jane, 50%; Ken, 40%; and Mark,10%. Jane desires to withdraw from the partnership and it is agreed that partnership assets of $195,000 will be used to pay Jane for her partnership interest. The balances of Ken's and Mark's Capital accounts after Jane's withdrawal would be * O Ken. $450,000; Mark, $105,000. O Ken. $426,000; Mark, $99,000. O Ken. $474,000; Mark, $111,000. O Ken. $435,000; Mark, $90,000. Reeves Company originally issued 2,000 shares of $10 par value common stock for$60,000 ($30 per share). Reeves subsequently purchases 200 shares of treasury stock for $27 per share and resells the 200 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there waea* 0 credit to Common Stock for $5,400. 0 debit to Paid-In Capital in Excess of Par Value of $6,000. 0 credit to Paid-In Capital from Treasury Stock for $400. 0 credit to Treasury Stock for $2,000. Starr's total stockholders' equity was 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 10,000 shares issued $ 200,000 Common stock, $10 par value, 2,000,000 shares authorized; 1,300,000 shares issued, 1,280,000 shares outstanding 13,000,000 Paid-in capital in excess of par value - preferred stock 40,000 Paid-in capital in excess of par value - common stock 18,000,000 Retained earnings 5,100,000 Treasury stock (10,000 shares) 420,000 O $31,240,000. $36,340,000. $36,760,000. $35,920,000.If the D, E, and F Partnership is liquidated by selling the nonoash assets for $750,000,.and creditors are paid in full, what is the total amount of cash that Partner D will receive in the distribution of cash to partners? * The Mm? income and has sharing ratio is 2:315, respectively. D. E. AND F PARTNERSHIP Ban: Shoat mum m . _ __ . _ ppm :00 5% 'EE Tm m aw 0 $36,000 0 $150,000 0 $234,000 James and Laura are forming a partnership. James will invest a truck with a book value of$10,000 and a fair market value of $14,000. Laura will invest a building with a book value of$30,000 and a fair market value of $42,000 with a mortgage of $15,000. What amount should be recorded in James' capital account? * James and Laura are forming a partnership. James will invest a truck with a book value of$10,000 and a fair market value of $14,000. Laura will invest a building with a book value of$30.000 and a fair market value of $42,000 with a mortgage of $15,000. At what amount should the building be recorded? * Bill Wren started the year with a capital balance of $180,000, During the year, his share of partnership net income was $160,000 and he withdrew $30,000 from the partnership for personal use. He made an additional capital contribution of $50,000 during the year, The amount of Bill Wren's capital balance that will be reported on the year-end balance sheet will be * Ephram Company has 2,000 shares of 5%, $100 par non-cumulative preferred stock outstanding at December 31, 2008. No dividends have been paid on this stock for 2007 or2008. Dividends in arrears at December 31, 2008 total * so. $10,000. $1,000. $20,000.Kate, Sue, and Tina formed a partnership with incomesharing ratios of 50%, 30%, and20%, respectively. Cash of $180,000 was available after the partnership's assets were liquidated. Prior to the final distribution of cash, Kate's capital balance was $200,000,3ue's capital balance was $150,000, and Tina had a capital deficiency of $50,000. Based upon a cash payments schedule, Kate should receive * 0 $175,000. Gannon Company acquired 6,000 shares of its own ordinary shares at $20 per share on February 5, 2010, and sold 3,000 of these shares at $27 per share on August 9, 2011. The fair value of Gannon's ordinary shares was $24 per share at December 31, 2010, and $25 per share at December 31, 2011. The cost method is used to record treasury shares transactions. What account(s) should Gannon credit in 2011 to record the sale of 3,000 shares? * Treasury Shares for $60,000 and 0 Share PremiumTreasury for $21,000. 0 Treasury Shares for $31,000. 0 Treasury Shares for $60,000 and Retained Earnings for $21,000. 0 Treasury Shares for $72,000 and Retained Earnings for $9,000. Starr's total paid-in capital was * 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 10,000 shares issued 200,000 Common stock, $10 par value, 2,000,000 shares authorized; 1,300,000 shares issued, 1,280,000 shares outstanding 13,000,000 Paid-in capital in excess of par value - preferred stock 40,000 Paid-in capital in excess of par value - common stock 18,000,000 Retained earnings 5,100,000 Treasury stock (10,000 shares) 420,000 O $18,040,000. O $30,820,000. O $31,240,000. O $31,660,000.Manning Company issued 10,000 shares of its $5 par value ordinary shares having a fair value of $25 per share and 15,000 shares of its $15 par value preference shares having a fair value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the ordinary shares? * 0 $50,000 0 $250,000 0 $213,132 0 $255,000 If the D, E, and F Partnership is liquidated by selling the noncash assets for $390,000 and creditors are paid in full, what is the amount of cash that can be safely distributed to each partner? * The partners' income and loss sharing ratio is 2:3:5, respectively. D. E. AND F PARTNERSHIP Balance Sheet December 31, 2008 Assets Liabilities and Owners' Equity Cash $ 90,000 Liabilities $300,000 Noncash assets 570,000 D, Capital 120,000 E. Capital 180,000 F, Capital 60.000 Total $660.000 Total $660.000 D, $72,000; E, $108,000; F, $0. D, $84,000; E, $126,000; F, $30,000. O D, $69,000; E, $111,000; F, SO. O D, $66,000; E, $114,000; F, SO.Hernandez Company has 350,000 shares of $10 par value ordinary shares outstanding. During the year. Hernandez declared a 10% share dividend when the market price of the stock was $30 per share. Four months later Hernandez declared a $50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by * 0 $175,000. 0 $525,000. 0 $1,242,500. 0 $192,500. Hernandez Company has 350,000 shares of $10 par value ordinary shares outstanding. During the year. Hernandez declared a 10% share dividend when the market price of the stock was $30 per share. Four months later Hernandez declared a $.50 per share cash dividend. As a result of the dividends declared during the year. retained earnings decreased by * O $175,000. 0 $525,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!