1 answer

13. When a corporation issues its capital stock in payment for services, the least appropriate basis...

Question:

13. When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transa
13. When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction is the A) market value of the services received. B) par value of the shares issued. C) market value of the shares issued. The market value of the services received or the market value of the share issues 16. When treasury stock is purchased for more than the par value of the stock and the cost method is used to account for treasury stock, what account(s) should be debited? A) Treasury stock for the par value and paid-in capital in excess of par for the excess of the purchase price over the par value. Paid-in capital in excess of par for the purchase price. C) Treasury stock for the purchase price. D) Treasury stock for the par value and retained earnings for the excess of the purchase price over the par value. B) 17. Which of the following does not demonstrate evidence regarding the ability to consummate a refinancing of short-term debt? A) Management indicated that they are going to refinance the obligation. B) Actually refinance the obligation. Have capacity under existing financing agreements tha can be used to refinance the obligation. Enter into a financing agreement that clearly permits entity to refinance the obligation. C)

Answers

15. Answer is option B.per value of share issued. Because it will result in excess payment.

16. Answer is option C. Treasury stock for the purchase price should be debited.

17.

Answer is option A. Management indicated that they are going to refinance the obligation.

.

Similar Solved Questions

1 answer
A study of the career paths of hotel general managers sent questionnaires to an SRS of...
A study of the career paths of hotel general managers sent questionnaires to an SRS of 160 hotels belonging to major U.S. hotel chains . There were 81 responses. The average time these 81 general managers had spent with their current company was 11.78 years. (Take it as known that the standard devia...
1 answer
Ou Direct labor for a company was $145,100; manufacturing overhead was $300,900; and direct materials were...
ou Direct labor for a company was $145,100; manufacturing overhead was $300,900; and direct materials were $270,800. Prime costs would total ann O A. $716,800. OB. $446,000. lyP O C. 415,900. OD. $571,700 ults rsor...
1 answer
X266: Recursion Programming Exercise: log For function log, write the missing base case condition and the...
X266: Recursion Programming Exercise: log For function log, write the missing base case condition and the recursive call This function computes the log of n to the base b.As an example: log 8 to the base 2 equals 3 since 8 = 2*2*2. We can find this by dividing 8 by 2 until we reach 1, and we count t...
1 answer
Mi pret your results: a What types of bonds are in glucose (C,H,O.)? How does this...
mi pret your results: a What types of bonds are in glucose (C,H,O.)? How does this help explain the color of the water in this tube b What types of bonds are in oil? How does this help explain the color of the water in this tube? c Which substance was hydrophilic? Which substance was hydrophobic? Ho...
1 answer
A survey of 25 randomly selected customers found the ages shown (in years) The mean is...
A survey of 25 randomly selected customers found the ages shown (in years) The mean is 32.68 years and the standard deviation is 9 47 years a) How many degrees of freedom does the t-statistic have? b) How many degrees of freedom would the t-statistic have if the sample size had been 400? 25 25 22 38...
1 answer
How do you find the parametric and symmetric equation of the line passing through the point (2,3,4) and perpendicular to the plane 5x+6y-7z=20?
How do you find the parametric and symmetric equation of the line passing through the point (2,3,4) and perpendicular to the plane 5x+6y-7z=20?...
1 answer
Why should we give you a scholarship to study MSc. Economics? I have a scholarship interview...
why should we give you a scholarship to study MSc. Economics? I have a scholarship interview tomorrow please help me with ideas...
1 answer
Use appropriate algebra and Theorem 7.2.1 to fi S L-1 {3+ s2 + 35 - 4...
Use appropriate algebra and Theorem 7.2.1 to fi S L-1 {3+ s2 + 35 - 4 х Need Help? Read it Talk to a Tutor...
1 answer
Using a perpetual inventory system, the entries to record receiving returned merchandise from a customer (assume...
Using a perpetual inventory system, the entries to record receiving returned merchandise from a customer (assume the customer had not yet paid for the purchase) includes a OA) credit to Sales O B) credit to Inventory C) debit to Cost of Goods Sold O D) credit to Accounts Receivable...
1 answer
4 A galvanometre of 25r resistance can sately carry a current of 1 miliamp. Calaware the...
4 A galvanometre of 25r resistance can sately carry a current of 1 miliamp. Calaware the resistance added it the instrument wed as voltmare of o to svolt. I...
1 answer
Calls arrive at a call center at the rate of 30 per hour. What is the...
Calls arrive at a call center at the rate of 30 per hour. What is the probability that the next call arrives in a. less than 4 minutes? b. more than 9 minutes? c. less than 1 minute? 1. a. The probability that the next call arrives in less than 4 minutes is (Round to four decimal places as needed.)...
1 answer
Spring Water Company Ltd. needed to raise $71 million of additional capital to finance the expansion...
Spring Water Company Ltd. needed to raise $71 million of additional capital to finance the expansion of its bottled water facility. After consulting an investment banker, it decided to issue bonds. The bonds had a face value of $71 million and an annual interest rate of 4.5%, paid semi-annually on J...
1 answer
The photoelectric work function energy for manganese metal is 3.76 eV (per electron). What wavelength of...
The photoelectric work function energy for manganese metal is 3.76 eV (per electron). What wavelength of radiation must be directed at the surface of manganese metal in order to eject electrons electrons having a maximum kinetic energy of 2.00×10 –19 Joules/electron. [Note: The electron...
1 answer
Ammonium perchlorate (NH4CIO4 is the solid rocket fuel used by the U.S. Space Shuttle. It reacts...
Ammonium perchlorate (NH4CIO4 is the solid rocket fuel used by the U.S. Space Shuttle. It reacts with itself to produce nitrogen gas (N2), chlorine gas (C12), oxygen gas 02), water (H20), and a great deal of energy What mass of chlorine gas is produced by the reaction of 7.4 g of ammonium perchlorat...
1 answer
PLEASE explain your answers to f-h, which ask for answers of the form increases, decreases, or...
PLEASE explain your answers to f-h, which ask for answers of the form increases, decreases, or stay the same and why. 7 6 2 Part f If R, increases, the voltage drop across R2 Part g If Rs increases,the voltage drop acros R Part h If all 3 variable resistors increase, the emf of the battery (assumi...
1 answer
Muscles located on the more anterior sides of the body usually cause _____________ while muscles on...
Muscles located on the more anterior sides of the body usually cause _____________ while muscles on the posterior sides of the body usually cause ____________. Similarly, muscles located laterally to the joint they move usually cause ____________ while muscles located medially to the joints they mov...
1 answer
Question 6 Which of the following issues commercial paper? depository institutions U.S. government banks business firms...
Question 6 Which of the following issues commercial paper? depository institutions U.S. government banks business firms and institutions Click if you would like to Show Work for this question: Open Show Work tudy...