ACCO 112-Partial Test ll-workshop 7 IlI. Exercise Complete the following sentenc

Question

ACCO 112-Partial Test ll-workshop 7 IlI. Exercise Complete the following sentences. (30 points) 1. A corporation has a separate 2. The apart from its owners. feature of preferred stock gives the preferred stockholders the right to receive current-year dividends and unpaid prior-year dividends before common stockholders receive any dividends The paid-in capital section of the balance sheet consists of two classifications: and 3. 4. Par value of stock represents the per share that must be retained in the busines for the protection of corporate 5. If stock is issued in exchange for noncash assets, the assets should be valued at the of the consideration whichever is more clearly evident. or the assets 6. A corporation's own stock that has been reacquired by the corporation but not canceled is called IV. Exercise- Select the correct answer. (10 point) . A $1,000 face value bond with a quoted price of 98 is selling for a. $1,000 b. $980 c $908 d $98 A bond with a face value of $200,000 and a quoted price of 102% has a selling price of a $240,225 b $204,025 ?. $200,225

Explanation / Answer

III. Exercise

1) legal identity

2) cumulative

3) Paid-in capital par value and Paid-in capital in excess of premium

4) face value, insolvency

5)sale value, fair value , historical cost

6) Treasury stock

IV. Exercise

1) b.$980

2) b.$204025

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.