Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. amelia corporation has the following informatio

1. Amelia Corporation has the following information in its financial statement: ...

80.2K

Verified Solution

Question

Accounting

1. Amelia Corporation has the following information in its financial statement:

Preferred Stock 6%, $100 par, cumulative, 10,000 shares authorized $ 540,000
Common Stock, $2 par, 400,000 shares authorized, 320,000 issued 640,000
Paid-in-Capital Preferred 760,000
Paid-in Capital Common 2,560,000
Retained earnings 2,373,400

If Amelia did not pay a dividend for the last two years, but declared a $250,000 dividend this year, how much will the common stockholders receive?

2. Treasury stock:

a.Decreases total stockholders' equity.

b. Increases total stockholders' equity.

c.Is an asset.

d.Does not change total stockholders' equity.

3. The two basic characteristics of estimated liabilities are:

a.Known to exist and amount unable to be determined until a later date.

b.Probable and non-interest bearing.

c.Probable and reasonably estimated.

d.Known to exist and interest bearing.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

6 For fixed a C show that za 11 z 1 if z 1 a...

Finance
1.2K views

The price of Ervin Corp. stock will be either $90 or $116 at the end of...

Basic Math
1.2K views

n 1998, the Nabisco Company launched a “1000 Chips Challenge” advertising campaign in which it was...

Medical Sciences
1.2K views

What is the hematocrit? What does it tell you about the health of your patient? Differentiate...

Economics
1.2K views

Assume that two firms are in a Cournot oligopoly market. Market demand is P=120 - Q...

Physics
1.2K views

A hoop of radius 0 50 m and a mass of 0 20 kg is...

Geometry
1.2K views

31 32 33 Find the coordinates to endpoint P given the coordinates 11 10 for...

Statistics
1.2K views

1 Suppose the weather forecaster says the probability of rain tomorrow is 3 Find the...

Calculus
1.2K views

50 3 2 Which of the following integrals are improper Why dx a sec x...

Algebra
1.2K views

Find the chromatic number of the graph below using vertex coloring 4 03 02

Algebra
1.2K views

When the number 2 is written as an exponential expression with a base of 8,...

Accounting
1.2K views

AMERICAN EAGLE OUTFITTERS, INC. APPENDIX A American Eagle Outfitters, Inc., 2020 Annual Report AMERICAN EAGLE...