ACCT 102- FINAL EXAMI 83 Which of the following would NOT be included in the operating activities section of the stateme

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Acct 102 Final Exami 83 Which Of The Following Would Not Be Included In The Operating Activities Section Of The Stateme 1 (56.19 KiB) Viewed 33 times

ACCT 102- FINAL EXAMI 83 Which of the following would NOT be included in the operating activities section of the statement of cash flows? a Dividends received 6. Dividends paid c. Interest received d. Interest paid 84 Fenway Company sells 1,000 shares of treasury stock for $32,000. The shares had been previously acquired for S24,000. The $8,000 received over cost should be credited to a. an asset account b. a paid-in capital account. ca revenue account d. retained earnings 85. The X Company has 2,000 shares of treasury stock and the following balance sheet information: Common stock, S50 par value $600,000 How many shares of common stock are outstanding? a 12,000 b. 598.000 c. 10,000 d. Insufficient information to answer 86. 87. Using the example above, which of the following could NOT be truc? a The company has previously reissued 1,000 shares of Treasury stock b. Total authorized shares equals 750,000 c. Total authorized shares equals 500,000 d. Total issued shares equals 600,000 If a corporation issues 5.000 shares of $5 par value common stock for S95,000, the entry would include a credit to: a Common Stock for $95,000 b. Paid-in Capital in Excess of Par for $95,000 c. Common Stock for $70,000 d. Paid-in Capital in Excess of Par for $70,000. Which of the following is true about convertible bonds? a The right to convert the bonds into common stock lies with the bond holder b. The right to convert the bonds lies with the bond issuer. c. Either party can require conversion into common stock d. None of the above. Which of the following are plausible reasons for a company to buy back treasury stock? 2. To defeat a possible takeover bid. b. To take the company private c. To increase the price of the outstanding shares d. All of the above. 88 89