Can anyone help me with my homework problems? 1. Sunny Company has the...

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Accounting

Can anyone help me with my homework problems?

1.

Sunny Company has the following account balances after adjusting entries at December 31, 2012:

Accounts Payable $24,000
Dividends 7,000
Treasury Stock, Common (22,000 shares) 98,000
Preferred Stock ($10 par) 80,000
Land 220,000
Cash 220,000
Equipment 120,000
Accounts Receivable 90,000
Common Stock ($1 par) 365,000
Sales 820,000
Prepaid Rent 70,000
Bonds Payable (due 2030) 120,000
Premium on Bonds Payable 8,000
Cost of Goods Sold 720,000
Interest Expense 20,000
Unearned Revenue 20,000
Allowance for Doubtful Accounts 15,000
Operating Expenses 97,000
Accumulated Depreciation- Equipment 40,000
Paid-in Capital in Excess of Par Value, Common 113,000
Retained Earnings 57,000

The total assets on the December 31, 2012 balance sheet would be:

a). 720,000

b). 665,000

c). 674,000

d). 680,000

Use the following chart for the next two questions

Marla Corporations ledger includes the following selected account balances at December 31, 2012:

Paid-in Capital in Excess of Par Value, Common 560,000
Cash 820,000
Unearned Revenue 55,000
Discount on Bonds Payable 75,000
Retained Earnings 300,000
Paid-in Capital in Excess of Par Value, Preferred 100,000
Cash Dividends Payable 80,000
Treasury Stock, Common, 36,000 shares 40,000
Accounts Payable 120,000
Preferred Stock, 12% $100 par value, 4,000 shares issued 400,000
Bonds Payable, 14% 900,000
Common Stock, $1 par value, 240,000 shares issued 240,000

The number of common shares outstanding at December 31, 2012 would be:

1. 204,000

2. 200,000

3. 276,000

4. None of the above

How much is the book value per share of common stock at December 31, 2012, assuming the preferred stock's liquidation value is equal to the par value and there are no dividends in arrears? (Round answer to the nearest whole cent.)

1. 5.71

2. 5.69

3. 5.15

4. 6.20

Tom Company (which uses a perpetual inventory system) has the following account balances after adjusting entries at December 31, 2012:

Cash $227,000
Merchandise Inventory (12/31/2012) 100,000
Equipment 120,000
Accounts Receivable 105,000
Common Stock ($.50 par) 350,000
Sales 880,000
Rent Expense 67,000
Bonds Payable (due 2040) 120,000
Accounts Payable 27,000
Dividends 10,000
Treasury Stock, Common (19,000 shares) 47,000
Preferred Stock 6% ($10 par) 85,000
Land 260,000
Paid-in Capital in Excess of Par Value, Preferred 8,000
Cost of Goods Sold 720,000
Interest Expense 20,000
Unearned Revenue 23,000
Paid-in Capital from Treasury Stock Transactions, Common 56,000
Allowance for Doubtful Accounts 5,000
Operating Expenses 95,000
Accumulated Depreciation- Equipment 30,000
Paid-in Capital in Excess of Par Value, Common 117,000
Retained Earnings (1/1/2012) 70,000

The number of outstanding common shares at December 31, 2012 is:

1. 720,000

2.665,000

3. 674,000

4. 680,000

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