The entry to record the issuance of common stock at a price above par includes a debit to
A) Organizational Expenses
B) Common Stock
C) Cash
D) Paid-In Capital in Excess of Par-Common Stock
C
You might also like to view...
Which of the following abilities would LEAST likely be measured when recruiting and testing applicants for a sales position?
A) sales aptitude B) organizational skills C) accounting skills D) analytical skills E) personality traits
The flexible budget variance is the difference between the actual results and the expected results in the flexible budget for the actual units sold
Indicate whether the statement is true or false
Dapper Company received $7,000 cash from the sale of a machine that had an $11,000 book value. If the company is subject to a 30% income tax rate, the net cash flow to use in a discounted-cash-flow analysis would be:
A. $7,000. B. $5,800. C. $8,200. D. $4,900. E. $2,100.
A portion of Lapore Corporation's Balance Sheet appears below:Liabilities and Stockholders' EquityYear 2Year 1Current liabilities: Accounts payable$209,000 $200,000 Accrued liabilities 27,000 30,000 Notes payable, short term 94,000 90,000 Total current liabilities 330,000 320,000 Bonds payable 280,000 280,000 Total liabilities 610,000 600,000 Stockholders' equity: Common stock, $4 par value 360,000 360,000 Additional paid-in capital 70,000 70,000 Retained earnings 589,000 570,000 Total stockholders' equity 1,019,000 1,000,000 Total liabilities & stockholders' equity$1,629,000 $1,600,000 The company's debt-to-equity ratio at the end of Year 2 is closest to:
A. 0.27 B. 0.37 C. 0.39 D. 0.60