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Evergreen Manufacturing Corporation

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Evergreen Manufacturing Corporation 1. Karl Corporation was organized on January 2, 2010. During 2013, Karl issued 20,000 shares at $24 per share, purchased 3,000 shares of treasury stock at $26 per share, and had net income of $300,000. What is the total amount of stockholders’ equity at December 31, 2013? a. $640,000 b. $702,000 c. $708,000 d. $720,000 2. Evergreen Manufacturing Corporation purchased 4,000 shares of its own previously issued $10 par common stock for $92,000. As a result of this event, a. Evergreen’s Common Stock account decreased $40,000. b. Evergreen’s total stockholders’ equity decreased $92,000. c. Evergreen’s Paid-in Capital in Excess of Par account decreased $52,000. d. All of the above. 3. A corporation purchases 30,000 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders’ equity? a. Increase by $1,350,000 b. Decrease by $900,000 c. Decrease by $1,350,000 d. Increase by $900,000 4. A corporation purchases 20,000 shares of its own $15 par common stock for $30 per share, recording it at cost. What will be the effect on total stockholders’ equity? a. Increase by $300,000 b. Decrease by $600,000 c. Increase by $600,000 d. Decrease by $300,000 5. Ramos Corporation sold 200 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record the sale will include a a. credit to Gain on Sale of Treasury Stock for $7,000. b. credit to Paid-in Capital from Treasury Stock for $2,000. c. debit to Paid-in Capital in Excess of Par for $2,000. d. credit to Treasury Stock for $9,000. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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