Evaluate the following list, and decide if each described attribute more likely relates to a common stock or preferred stock issue. Common Preferred The stock is described as 6%, cumulative ✓ The stock includes voting rights The stock is last in line in the event of […]
Following is a list describing various features of the corporate form of organization. Match each feature with an appropriate descriptive term, and note whether this feature is an advantage or disadvantage of the corporate entity. TERM ADVANTAGE OR DISADVANTAGE The ability of a company to raise capital by issuing shares to the public Publicly […]
Dry Dock Container Corporation began operations in early 20X5, when it issued 200,000 shares of $3 par value common stock for $10 per share. The following additional equity-related transactions occurred during 20X5. Transaction A: Issued 50,000 shares of $100 par value, 6%, cumulative preferred at $102 per share. Transaction B: Reacquired 10,000 common […]
On January 1, 2016, Alpha Corporation had 250,000 shares of common stock outstanding with a par value of $4 per share. On March 31, Alpha Corporation authorized a 10% stock dividend when the market value was $9 per share. Use this information to prepare the General Journal entry (without explanation) for March 31. If no […]
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