Question

In: Accounting

The corporation whose stock can be bought and sold on stock exchanges and in over the...

The corporation whose stock can be bought and sold on stock exchanges and in over the counter markets are referred to as

closely held corp

sole proprietorships

privately owned Corp

publicly owned corp

2. if the prepaid expenses are not adjusted assets on the balance sheet

will not be affected

will be understand

may be either overstated or understated

will be overstated

3. which of the following account would be closed at the end of the year

acc depreciation

capital

supplies expense

accent rec

4.the financial statement that is prepared first is

income statement

up tot he accountant

owners equity

balance sheet

5. the first place a transaction is recorded is in the

trial balance

source doc

general ledger

journal

6.which of the following is not a type of information communicated by the financial statement

whether or not the business is profitable

how much the business owes others

What type of assets business owns

how long business has been in operation

Expert Solution

ekkarill92 answered 1 year ago

You bought 500 shares of stock A at $600 on day 0 and you sold it...

You bought 500 shares of stock A at $600 on day 0 and you sold it at $1000 on day 700. The daily discount rate is 0.0001%. How much profit did you make in terms of net present value?

An investor bought a stock for $85 and sold it exactly 2 years later for $98....

An investor bought a stock for $85 and sold it exactly 2 years later for $98. He received two dividend payments of $3 each during his holding period (the first at the end of the first year and the second, just before he sold his shares). The re-investment rate was 5% per year. Calculate the following: The investor's capital gain: $ The future value of his reinvested dividends: $ The investor’s annual realized rate of return(ROR):

What are the 2 options of a corporation when the stock of that corporation are sold...

What are the 2 options of a corporation when the stock of that corporation are sold for less than fair market value?

Aurora Corporation exchanges $700,000 of its voting stock for all of Theda Corporation’s single class of...

Aurora Corporation exchanges $700,000 of its voting stock for all of Theda Corporation’s single class of stock owned entirely by Kyle. Kyle’s basis in his Theda stock was $400,000. (1) Does this exchange satisfy the requirements for a Type B reorganization? In your answer, discuss the requirements for a Type B reorganization and whether they are satisfied in this case. (2) What gain, if any, do Aurora and Kyle recognize on the exchange? (3) What is Kyle’s basis in his...

On January 1, 2019, Portugal Corporation bought 90% of the stock of Sweden Corporation for $500,000...

On January 1, 2019, Portugal Corporation bought 90% of the stock of Sweden Corporation for $500,000 (with cash). The NCI at date of acquisition was valued at $55,555.56. The Balance Sheets of the two companies immediately after Portugal acquired (January 1, 2019) Sweden Corporation showed the following amounts: Portugal Sweden Cash $ 90,000 $ 110,000 Accounts Receivable 160,000 40,000 Inventory 500,000 290,000 Land 1,100,000 140,000 Buildings & Equipment - Net 1,000,000 420,000 Copyrights 100,000 ...

Paul Sarver is the controller of a corporation whose stock is not listed on a national...

Paul Sarver is the controller of a corporation whose stock is not listed on a national stock exchange. The company has just received a patent on a product that is expected to yield substantial profits in a year or two. At the moment, however, the company is experiencing financial difficulties; and because of inadequate working capital, it is on the verge of defaulting on a note held by its bank. At the end of the most recent fiscal year, the...

You bought a stock one year ago for $ 50.14 per share and sold it today...

You bought a stock one year ago for $ 50.14 per share and sold it today for $ 58.83 per share. It paid a $ 1.74 per share dividend today. If you assume that the stock fell $ 7.42 to $ 42.72 instead: a. Is your capital gain different? Why or why not? b. Is your dividend yield different? Why or why not?

The secondary market includes stock exchanges such as the New York Stock Exchange and NASDAQ. How do these stock exchanges facilitate the process of trading securities?

Should stock exchanges allow listing of shares with different voting rights? can you answer with the...

Should stock exchanges allow listing of shares with different voting rights? can you answer with the detailed explanations please?

George bought the following amounts of Stock A over the years: (Loss amounts should be indicated...

George bought the following amounts of Stock A over the years: (Loss amounts should be indicated with a minus sign.) Date Purchased Number of Shares Adjusted Basis Stock A 11/21/1994 1,230 $ 29,520 Stock A 3/18/2000 615 11,070 Stock A 5/22/2009 980 35,280 On October 12, 2020, he sold 1,545 of his shares of Stock A for $38 per share. a. How much gain/loss will George have to recognize if he uses the FIFO method of accounting for the shares...