Reference no: EM132426795
Question -
Part A) The following are selected accounts for the Wicomico Company after all Fiscal Year December 31, 2018, adjusting entries & closing entries have been posted. All balances are normal.
Account Amount
Common Stock, $10 par $260,000
Treasury Stock, at cost $16 per share 32,000
Dividends Payable 13,000
Paid in Capital in excess of par, Common Stock 52,000
Accounts Receivable 24,500
Retained Earnings 217,000
Bonds Payable 150,000
Preferred Stock, $100 par, 4% cumulative 100,000
Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end. Be sure to use a good format, dollar signs and single underlines were required. There are a few extra lines in the formatted input answer form to allow for acceptable balance sheet format variations.
Part B) At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,700,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,000,000 of $10 par value common stock and Preferred Stock account of $200,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $102. Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)
Part C) Allstar Company signed a $300,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2,500 at the end of each month. The interest rate is 7.0% per year. How much interest expense will be paid on August 31, 2018? (Round your answer to the nearest whole dollar.)
What are the ethics of the return claim
: What are the ethics of the 21% return claim made by the Damon Investment Company? Is this a single step or multiple step income statement
|
Research the term Morals, Principles
: Research the term Morals, principles,values, corporate social responsibility, or ethical culture.
|
Determine dollar value of interest expense for fiscal year
: Use this information to determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar
|
Research the term Corporate citizenship
: Research on Corporate citizenship,Stakeholder, corporate citizenship, reputation, corporate governance, or executive compensation
|
How much interest expense will be paid on august
: The interest rate is 7.0% per year. How much interest expense will be paid on August 31, 2018
|
What are the charges against socrates as recorded in apology
: What are the charges against Socrates as recorded in the Apology. Is he guilty of them? why or why not? What is Socrates' argument against Crito.
|
Discuss the term Integrity
: Discuss the term Integrity,ethical dilemma, conflict of interest, bribery, or fraud.
|
What is plato underlying attitude towards the body
: In the Phaedo Socrates is preparing for his death and consoling his friends that death is not a bad thing. There are echoes of the end of the Apology here.
|
Determine the number of current ratio as of December
: Use this information to determine the number of current ratio as of December 31, 2018. Determine the book value of the investment
|