User Account

All Pages

What is the total amount recorded in common stock account

Assignment Help Managerial Accounting
Reference no: EM132964067

Question - OM, Inc. was organized on January 1, 20X8. The firm was authorized to issue 1,000,000 shares of $2.50 par value common stock. During 20X8, OM had the following transactions relating to stockholders' equity:

Issued 20,000 shares of common stock at $7 per share.

Issued 40,000 shares of common stock at $8 per share.

Reported a net income of $100,000.

Paid dividends of $50,000.

Required - What is the total amount recorded in the Common Stock account at the end of 20X8?

a. $150,000

b. $-0-

c. $60,000

d. $120,000

e. $460,000

Reference no: EM132964067

Questions Cloud

What income does kristie reports the items from kkm : The partnership paid Kaylin $20,000 for administrative services. What income does Kristie reports the following items from KKM during the current year?
Determine the defined benefit obligation of GE : Projected benefit obligation $7,200,000 and Fair value of plan assets 7,000,000. Determine the defined benefit obligation of GE as at 31 March 2020
How ethics play a role in corporate finance : Think about prevalent examples, How ethics play a role in corporate finance and how corporate social responsibility plays a role in ethical considerations.
Does recognize any gain or loss as a result of distribution : Alice owns a 30% interest in a continuing partnership. The partnership distributes $35,000, As result of the distribution, does she recognize any gain or loss?
What is the total amount recorded in common stock account : The firm was authorized to issue 1,000,000 shares of $2.50 par value common stock. What is the total amount recorded in Common Stock account
How much must each deposit be : Alan has just started work and he has been wanting, How much must each deposit be, if he is going to buy boat in 5 years and the boat will cost $100,000 then?
What the debt-equity ratio at December : The following information was available for the year ended December 31, 2019: What the debt-equity ratio at December 31, 2019
How much would be willing to pay for the complex today : How much would you be willing to pay for the complex today if it will have to be torn down in 15 years, and there is no salvage value?
Explain what do think might be some pitfalls of budgeting : What do you think might be some pitfalls of budgeting, and how can they be avoided? In your own words, explain what a budget is

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd