Percy buys stock in Kinollo Corporation that pays dividends of $5 per share before dividends are paid on other stock of Kinollo. If the dividends are not paid in any given year, the dividends for that year must be paid when the company next declares dividends, until fully paid. Percy's dividends per year will not exceed $5 per share. Percy's stock is:
A) cumulative common stock.
B) noncumulative preferred stock.
C) cumulative preferred stock.
D) participating preferred stock.
C
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What types of personal problems have been used to alter dysfunctional, habitual behaviors?
a. Weight loss and eating problems b. Eating problems c. Smoking problems and eating problems d. Weight loss, eating problems, and smoking problems
Which of the following statements is true with regard to the risk of investments?
A) There is very little risk in an IPO since returns often exceed 20% in the first day. B) Mutual funds containing mostly large stocks are more risky than mutual funds containing smaller stocks. C) If you prefer less risk, purchase a bond issued by a successful and established firm. D) There is little risk in purchasing land as an investment since the value of land always appreciates over time.
When Disney and Charles decided to incorporate their partnership, the trial balance was as follows: DebitCreditCash$50,000 Accounts Receivable (net) 25,000 Inventory 55,000 Equipment (net) 120,000 Accounts Payable $40,000 Disney, Capital 140,000 Charles, Capital 70,000 Total$250,000 $250,000 The partnership's books will be closed, and new books will be used for D & C Corporation. The following additional information is available:1. The estimated fair values of the assets follow: Accounts Receivable$22,000 Inventory 48,000 Equipment 95,000 2. All assets and liabilities are transferred to the corporation. 3. The common stock is $5 par. Disney and Charles receive a total of 24,000 shares. 4. Disney and Charles share profits
and losses in the ratio 6:4. Required:a. Prepare the entries on the partnership's books to record (1) the revaluation of assets, (2) the transfer of the assets to the D & C Corporation and the receipt of the common stock, and (3) the closing of the books.b. Prepare the entries on D & C Corporation's books to record the assets and the issuance of the common stock. What will be an ideal response?
Blanket inventory loans are illustrative of secured, short?term credit.?
Answer the following statement true (T) or false (F)