Question 15 (3 points) The stockholders' equity section of the December 31, 2019, balance sheet...

60.1K

Verified Solution

Question

Accounting

image
image
image
Question 15 (3 points) The stockholders' equity section of the December 31, 2019, balance sheet for Rustic Exteriors, Inc. before its recent stock dividend: Common Stock, $5 par, 100,000 $ 500.000 shares issued and outstanding Additional Paid-in Capital, 100,000 Common Stock Retained Earnings 725.000 Total Stockholders' Equity $1,325,000 Rustic declared a 10% stock dividend when the market price per share was $8.00. After the stock dividend, the components of Inglenook's stockholders' equity section were: Rustic declared a 10% stock dividend when the market price per share was $8.00. After the stock dividend, the components of Inglenook's stockholders' equity section were: Retained Earnings Common Stock $ 580,000 Additional Paid-in Capital $100,000 $645,000 Common Stock $550,000 Additional Paid-in - Capital $100,000 Retained Earnings $805,000 in Common Stock $580,000 Capital $130,000 Retained Earnings $805,000 Common Stock $550,000 Additional Paid-in Capital $130,000 Retained Earnings $645,000 Question 17 (3 points) The Premium on Bonds Payable account is shown on the balance sheet as O a contra asset. O a reduction of an expense. O a separate valuation account that increases the bond liability to market value at the issue date. a subtraction from a long-term liability

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