Question

In: Accounting

1.Unearned Revenues are classified as a(n) * Revenue Expense Current liability Current asset 2.Beng Company has 30,000...

1.Unearned Revenues are classified as a(n) *

Revenue

Expense

Current liability

Current asset

2.Beng Company has 30,000 shares of $1 par common stock issued and outstanding. The company also has 5,000 shares of $100 par 5% noncumulative preferred stock outstanding. The company did not pay the preferred dividends in 2017, 2018 and 2019. On December 1, 2020, the company’s board of directors declared that $150,000 will be paid as dividend on January 17, 2021. What amount of dividends must the company pay the preferred shareholders? *

$100,000

$75,000

$50,000

$25,000

3.Beng Company has 30,000 shares of $1 par common stock issued and outstanding. The company also has 5,000 shares of $100 par 5% noncumulative preferred stock outstanding. The company did not pay the preferred dividends in 2017, 2018 and 2019. On December 1, 2020, the company’s board of directors declared that $150,000 will be paid as dividend on January 17, 2021. What amount of dividends would common stockholders earn? *

$200,000

$150,000

$125,000

$100,000

4.A large stock dividend is defined as *

more than 20–25% of the corporation's issued stock

less than 30% but greater than 25% of the corporation's issued stock

between 50% and 100% of the corporation's issued stock

more than 30% of the corporation's issued stock

Expert Solution

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

ekkarill92 answered 2 years ago

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