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Please explain how to calculate this to get an answer like the key above for number 91, 92, 93, 94, 95, 104, 105, and 108

Chapter : CORPORATIONS: ORGANIZATION AND CAPITAL STOCK TRANSACTIONS

91. A corporation purchases 10,000 shares of its own $10 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders equity?

92. Beckham Company has 1,000 shares of 4%, $100 par cumulative preferred stock outstanding at December 31, 2008. No dividends have been paid on this stock for 2007 or 2008. Dividends in arrears at December 31, 2008 total

93. Ephram Company has 2,000 shares of 5%, $100 par non-cumulative preferred stock outstanding at December 31, 2008. No dividends have been paid on this stock for 2007 or 2008. Dividends in arrears at December 31, 2008 total

94. Rebel Inc. issued 2,000 shares of no-par common stock with a stated value of $3 per share. The market price of the stock on the date of issuance was $12 per share. The entry to record this transaction includes a

95. Rancho Corporation sold 100 shares of treasury stock for $40 per share. The cost for the shares was $30. The entry to record the sale will include a

104. Four thousand shares of treasury stock of Meyer, Inc., previously acquired at $12 per share, are sold at $18 per share. The entry to record this transaction will include a

105. Reeves Company originally issued 2,000 shares of $10 par value common stock for $60,000 ($30 per share). Reeves subsequently purchases 200 shares of treasury stock for $27 per share and resells the 200 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a

108. Cole Corporation issues 15,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $900,000 and a credit or credits to

91. A corporation purchases 10,000 shares of its own $10 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders' equity? a. Increase by $100,000 b. Decrease by $250,000 C. Increase by $250,000 d. Decrease by $100,000 92 Beckham Company has 1,000 shares of 4%, $100 par cumulative preferred stock outstanding at December 31, 2008. No dividends have been paid on this stock for 2007 or 2008. Dividends in arrears at December 31, 2008 total a. $0. b. $400 C. $4,000. d. $8,000. 93. Ephram Company has 2,000 shares of 5%, $100 par non-cumulative preferred stock outstanding at December 31, 2008. No dividends have been paid on this stock for 2007 or 2008. Dividends in arrears at December 31, 2008 total a. $0. b. $1,000. c. $10,000. d. $20,000. 94 Rebel Inc. issued 2,000 shares of no-par common stock with a stated value of $3 per share. The market price of the stock on the date of issuance was $12 per share. The entry to record this transaction includes a a. debit to Cash for $6,000. b. credit to Common Stock for $24,000. C. credit to Common Stock for $6,000. d. debit to Paid-in Capital in Excess of Par Value for $24,000. 95 Rancho Corporation sold 100 shares of treasury stock for $40 per share. The cost for the shares was $30. The entry to record the sale will include a a. credit to Gain on Sale of Treasury Stock for $3,000. b. credit to Paid-in Capital from Treasury Stock for $1.000. C. debit to Paid-in Capital in Excess of Par Value for $1,000. d. credit to Treasury Stock for $4,000. Four thousand shares of treasury stock of Meyer, Inc., previously acquired at $12 per share, are sold at $18 per share. The entry to record this transaction will include a a. credit to Treasury Stock for $72,000. b. debit to Paid-In Capital from Treasury Stock for $24,000. C. debit to Treasury Stock for $48,000. d. credit to Paid-In Capital from Treasury Stock for $24,000. 104. 105. Reeves Company originally issued 2,000 shares of $10 par value common stock for $60,000 ($30 per share). Reeves subsequently purchases 200 shares of treasury stock for $27 per share and resells the 200 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a a. credit to Common Stock for $5,400. b. credit to Treasury Stock for $2,000. C. debit to Paid-In Capital in Excess of Par Value of $6,000. d. credit to Paid-In Capital from Treasury Stock for $400. Cole Corporation issues 15,000 shares of $50 par value preferred stock for cash at $60 per share 108. The entry to record the transaction will consist of a debit to Cash for $900,000 and a credit or credits to a. Preferred Stock for $900,000. b. Preferred Stock for $750,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $150,000. c. Preferred Stock for $750,000 and Paid-in Capital from Preferred Stock for $150,000 d. Paid-in Capital from Preferred Stock for $900,000

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