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
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
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