If Everly Company issues 1,000 shares of $5 par value common stock for $75,000, the account
A) Common Stock will be credited for $75,000.
B) Paid-in Capital in excess of Par Value will be credited for $5,000.
C) Paid-in Capital in excess of Par Value will be credited for $70,000.
D) Cash will be debited for $70,000.
C
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Which of the following items is not included in the engagement letter?
a. The responsibilities of the auditor. b. The responsibilities of management. c. The objective of the financial statements. d. Identification of the applicable financial reporting framework for the preparation of the financial statements.
Target recently opened temporary shops to celebrate limited-run collections by Jason Wu in Toronto and Missoni in New York. These temporary shops are examples of ________
A) lifestyle centers B) pop-up stores C) warehouse clubs D) strip malls E) category killers
________ is the visual ability that helps one see things in low light contexts.
A. Depth perception B. Visual color discrimination C. Far vision D. Night vision E. Near vision
Of the following, select the incorrect statement concerning earnings per share
a. During periods when all income is paid out as dividends, earnings per share and dividends per share under a simple capital structure would be identical. b. Under a simple capital structure, no adjustment to shares outstanding is necessary for a stock split on the last day of the fiscal period. c. During a period, changes in stock issued or reacquired by a company may affect earnings per share. d. During a loss period, the amount of loss attributed to each share of common stock should be computed.