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1-The following data is available for Concord Corporation at December 31, 2020: Common stock, par $264000 $10 (authorized 33000shares) Treasury stock (at cost $15 per share) $900 Based on the data, how many shares of common stock are outstanding? 33000 29640. 26340. 26400. 2- Swifty Corporation issues 51000 shares of $50 par value preferred stock for cash at $65 per share. The entry to record the transaction will consist of a debit to Cash for $3315000 and a credit or credits to Preferred Stock for $3315000. Preferred Stock for $2550000 and Retained Earnings for $765000. Paid-in Capital from Preferred Stock for $3315000. Preferred Stock for $2550000 and Paid-in Capital in Excess of Par Value -- Preferred Stock for $765000. 3- Skysong, Inc. issues 24000 shares of $50 par value preferred stock for cash at $55 per share. In the stockholders' equity section, the effects of the transaction above will be reported under both the capital stock and additional paid-in capital sections. entirely under the retained earnings section. entirely within the additional paid-in capital section. entirely within the capital stock section. 4-Outstanding stock of the Blue Corporation included 50000 shares of $5 par common stock and 18000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Blue declared and paid dividends of $7500. In 2020, Blue declared and pald dividends of $25000. How much of the 2020 dividend was distributed to preferred shareholders? $16500. $27000. $9000. None of these answer choices are correct. 5- Splish Brothers Inc. has 5500 shares of 5%, $100 par value, cumulative preferred stock and 11000 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $50600 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020? $27500. $18700. $23100. $0. 6- Splish Brothers Company's accounts receivable arising from sales to customers amounted to $149000 and $130000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $567000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is $697000. $567000. $548000. $586000 7- Kingbird, Inc. reported a net loss of $17100 for the year ended December 31, 2022. During the year, accounts receivable decreased $8550, inventory Increased $13680, accounts payable increased by $17100, and depreciation expense of $10260 was recorded. During 2022, operating activities used net cash of $11970. provided net cash of $11970. used net cash of $5130 provided net cash of $5130. 8-1f $3050000 of bonds are issued during the year but $4880000 of old bonds are retired during the year, the statement of cash flows will show a(n) net increase in cash of $1830000. net loss on retirement of bonds of $1830000. net decrease in cash of $1830000. increase in cash of $3050000 and a decrease in cash of $4880000. 9- If a gain of $189000 is realized in the cash sale of a building having a book value of $756000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is $567000. $189000. $756000 $945000 I 10-During 2022, Wildhorse Co. reported cash provided by operations of $858000, cash used in investing of $741000, and cash used in financing of $205000. In addition, cash spent on fixed assets during the period was $298000. Average current liabilities were $702000 and average total liabilities were $1853000. No dividends were paid. Based on this information, what was Wildhorse free cash flow? ($156000) (5652000). 8-If $3050000 of bonds are issued during the year but $4880000 of old bonds are retired during the year, the statement of cash flows will show a(n) net increase in cash of $1830000. net loss on retirement of bonds of $1830000. net decrease in cash of $1830000. increase in cash of $3050000 and a decrease in cash of $4880000. 9- If a gain of $189000 is realized in the cash sale of a building having a book value of $756000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is $567000. $189000. $756000. $945000. 10- During 2022, Wildhorse Co. reported cash provided by operations of $858000, cash used in investing of $741000, and cash used in financing of $205000. In addition, cash spent on fixed assets during the period was $298000. Average current liabilities were $702000 and average total liabilities were $1853000. No dividends were paid. Based on this information, what was Wildhorse free cash flow? ($156000). ($652000). $117000. $560000

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