tion Status: 6 13 16 QUESTION 15 r 4,000 shares of 796, $100 par value, converti
ID: 2591617 • Letter: T
Question
tion Status: 6 13 16 QUESTION 15 r 4,000 shares of 796, $100 par value, convertible preferred stock were issued for cash at $110 per share, the Cash account and Preferred Stock account would have been increased by what respective amounts? DA $440,000; 400,000 B. $400,000: 400,000 OC $440,000; 440,000 D. $400,000: 440,000 QUESTION 16 An example of an extraordinary item is a: C A loss from confiscation by the government of Brazil of the company's only overseas plant. B. loss in selling obsolete inventory D c gain in the increased value of treasury stock. D D. loss from litigation in a medical practice. QUESTION 17 A company issued 83,000 shares of s20 par value common stock for $200,000. what would the journat entry be to to save all answers.Explanation / Answer
15 Cash account increase = 4000*110 = 440000 Preferred stock account increase = 4000*100 = 400000 Option A is correct 16 An example of extraordinary item is loss from confisaction by the government of Brazil of company's overseas plant Option A is correct
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