Reference no: EM132581936

Question 1: Napis Co. Is it where do you corporation that has never before issued any stock. The corporation has approved the issuance of 500 shares of shock with one dollar par value to John Giles in exchange for equipment professionally appraised at $900. Equipment should be debited for?

Question 2: Radle Co. purchase 80 shares of treasury stock for $25 per share. The company later sold the shares for $20 per share. The account 'Paid-in capital from Treasury Stock' currently has a credit balance of $500 in it. The entry to record the sale of shares would include a? (debt to loss of sale of treasury stock for 400, credit to treasury stock for 2000, Credit to cash for 1600, credit to paid in capital for treasury stock for 400)

Question 3: Which of the following transactions will decrease a company equity? (A purchase of treasury stock, a split stock, a sale of treasury stock, a stock dividend)

Question 4: A company had 10,000 shares outstanding on 1/1. 1000 new shares were assigned on 6/1, and 1750 shares of treasury stock were purchased on 9/1. What is the weighted average number of shares to be use for the year and earnings per share calculation (if necessary, round to the nearest whole share)?

Question 5: Jones corporation has 100,000 shares at $20 par value common stock outstanding. If Jones declares a 20% stock divide on its common stock will win the market value is $35 per share, for what value will "Additional paid in capital uncle "be recorded?

Question 6: Jackson company has 40,000 shares of five par value stock outstanding (total legal capital of $200,000) if Jackson's puts the stock two for one will the total legal capital of Jackson co shares after the split?