20. Following are balance sheet amounts for Carolina Company asof 12/31/17:
Preferred Stock $ 200,000
CommonStock 300,000
Paid-In Capital in Excess of Par -Preferred 200,000
Paid-In Capital in Excess of Par -Common 400,000
RetainedEarnings 500,000
TreasuryStock 100,000
Paid In Capital from TreasuryStock 50,000
Given the above what is total paid in capital?
Select one:
a. $1,150,000
b. $1,100,000
c. $1,000,000
d. $ 600,000
e. $ 650,000
21. A corporation issued $600,000, 10%, 5-year bonds on January1, 2017 for $648,666, which reflects an effective-interest rate of7%. Interest is paid semiannually on January 1 and July 1. If thecorporation uses the effective-interest method of amortization ofbond premium, the carrying value of the bonds on January 1, 2019is
Select one:
a. $617,911
b. $629,198.
c. $626,001.
d. $638,932.
e. $633,817.
24. The cumulative effect of the declaration and payment of acash dividend on a company's financial statements is to
Select one:
a. increase total liabilities and decrease total assets.
b. decrease total liabilities and stockholders' equity.
c. increase total expenses and total liabilities.
d. decrease total assets and stockholders' equity.
e. increase total assets and stockholders' equity.
26. The following selected amounts are available for VizioCompany:
Retained earnings(beginning) $1,600
Netloss 300
Write off of uncollectible receivable (to allowance for doubtfulaccounts) 200
Inventory overstatement from prior period (net oftax) 500
Cash dividendsdeclared 200
Stock dividendsdeclared 200
Based upon the above information, what is Vizio's endingretained earnings balance?
Select one:
a. $ 200
b. $1,400
c. $1,200
d. $ 400
e. $1,800
