46) Which of the following $7 par value common stock at $21 per share for cash?

Question

46) Which of the following $7 par value common stock at $21 per share for cash? A) Cash is credited for $294,000 B) Common Stock is debited for $98,000. C) Common Stock is credited for $294,000 D) Paid-In Capital in Excess of Par-Common is credited for $196,000 is included in the entry to record the issuance of 14,000 shares of The 2019 balance sheet for Standard Electronics reported the following items-with 2018 figures given for comparison: Standard Electronics Balance Sheet As of December 31, 2019 Standard Electronics Balance Sheet As of December 31, 2018 Total Assets 284,000 210,.000 5494.000 330,000 Total Liabilities Total Stockholders Equity (all common) Total Liabilities and Stockholders' Equity Net income for 2019 was $25,000. Compute the rate of return on common stockholders' equity for 2019. (Round your final answer to two decimal places.) A) 4.38% B) 10.37% C) 11.09% D) 4.69%

Explanation / Answer

46 Cash 294000      Common Stock 98000      Paid in capital in excess of par-Common 196000 Option D is correct 47 Average stockholders' equity = (241000+210000)/2= 225500 Rate of return on stockholders' equity =25000/225500= 11.09% Option C is correct

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