In this file ACC 291 Week 4 WileyPLUS Assignment Exercise 11 1 , E11 15, E11 16 Problem P11 6A And P11 8A you can find right answers on the following questions:
Exercise Do It! 11-1. Indicate whether each of the following statements is true or false.
Exercise E11-15. On October 31, the stockholders’ equity section of Omar Company consists of common stock $600,000 and retained earnings $900,000. Omar is considering the following two courses of action: (1) declaring a 5% stock dividend on the 60,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $14 per share.
Complete the tabular summary of the effects of the alternative actions on the components of stockholders’ equity and outstanding shares. (If answer is zero, please enter 0. Do not leave any fields blank.)
Exercise E11-16. Before preparing financial statements for the current year, the chief accountant for Springer Company discovered the following errors in the accounts.
Question 4. Arnold Corporation has been authorized to issue 40,000 shares of $100 par value, 8%, noncumulative preferred stock and 2,000,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2011, the ledger contained the following balances pertaining to stockholders’ equity. Prepare the journal entries for the: (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.)
Problem P11-8A. The following stockholders’ equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Complete the stockholders’ equity section at December 31, 2011. (List entries by the format used in the text. Enter all amounts as positive amounts and subtract where necessary.)
Compute the book value per share of the common stock, assuming the preferred stock has a call price of $110 per share. (Round answer to 2 decimal places, e.g. 10.50.)