The adjusting journal entry is a debit to______

interest expense and interest payable for $4,180

The term residual claim refers to a stockholders' right to_______

share in assets upon liquidation

The number of shares of issued stock equals

outstanding shares plus treasury shares

Which one of the following is not an ownership right of a stockholder in a corporation?

to declare dividends on the common stock

is the value assigned per share in the corporate charter

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Chapters 9-11

19 termsStudBud Administration117 plays

Depreciation and Long-Lived Assets Current and Long-Term Liabilities Stockholders' Equity

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Questions 19

Answers

1
A company issued $320,000, 11-year, 9% bonds at .981. What is the issue price?
$315,000
$291,200
$320,000
$313,920
2
The adjusting journal entry is a debit to______
interest payable and interest expense for $4,180
interest expense and interest payable for $8,360
interest expense and interest payable for $4,180
interest expense and credit cash for $8,360
3
The term residual claim refers to a stockholders' right to_______
exercise a proxy vote
share in assets upon liquidation
receive dividends
acquire additional shares when offered
4
What will the company record in the journal entry to reissue its own Treasury Stock?
Credit to APIC for $500
Debit to APIC for $500
Debit to Loss on T-Stock for $500
Credit to Gain on T-Stock for $500
5
What is the depreciable cost?
$24,000
$144,000
$40,000
$120,000
6
What is the gain for the re-issuance of Treasury Stock?
$500
$550
No gain
$5,500
7
A company issued $320,000, 11-year, 9% bonds at 105.50. What is the issue price?
$320,000
$302,400
$348,800
$337,600
8
a stockholder who receives a stock dividend would
own more shares of stock
expect the par value of the stock to change
expect retained earnings to increase
expect the market price per share to increase
9
The number of shares of issued stock equals
unissued shares minus authorized shares
outstanding shares plus authorized shares
outstanding shares minus treasury shares
outstanding shares plus treasury shares
10
For a bond, if the market rate is 7% while the stated rate is 8%, then the bond is issued at___
face value
a premium
a discount
not enough information to tell
11
What kind of account does a gain on disposal act as?
Contra-Revenue
Revenue
Contra-Asset
Asset
12
What is the amount credited to Sales Revenue?
$551.25
$500
$498.75
$525
13
Answer the questions with the following information:
$151,000
$260,000
$120,000
$271,000
14
As a result of the sale, net income will__________
decrease by $20,000
increase by $20,000
decrease by $10,000
increase by $10,000
15
Which one of the following is not an ownership right of a stockholder in a corporation?
to share in assets upon liquidation
to declare dividends on the common stock
to share in corporate earnings
to vote in the election of directors
16
For a bond, if the market rate is 7% while the stated rate is 6%, then the bond is issued at___
face value
not enough information to tell
a premium
a discount
17
par value
is the value assigned per share in the corporate charter
is established for a share of stock after it is issued
represents the original selling price for a share of stock
represents what a share of stock is worth
18
Treasury Stock is a(n)
contra-asset account
contra-equity account
retained earnings account
asset account
19
What is the total payroll costs for the period?
$152,500
$133,000
$161,463
$170,426

Chapters 9-11 Flashcards | StudBud