
Review for exam
Authored by Eduardo Trevino
Business
University
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14 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A bond is issued at a ----------- when the issue price is greater than the face value.
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A bond is issued at a ---------- when the issue price is less than the face value.
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
--------- stock reports shares that were previously issued to and owned by stockholders but have been reacquired and are now held by the corporation.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The company issues 1,000 shares of its $1 par value common stock at the market price of $30 per share.
Which of the following is the appropriate journal entry?
Dr: cash for 30000
Cr: common stock for 29000
Cr: APIC for 1000
Dr: cash for 30000
Cr: common stock for 1000
Cr: APIC for 29000
Dr: cash for 30000
Cr: common stock for 30000
Dr: common stock for 30000
Cr: cash for 30000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Does the stock exchange between investors (in the secondary market) directly affect the company?
Yes, it does
no, it does not
6.
OPEN ENDED QUESTION
3 mins • 1 pt
A company repurchased 10,000 shares of its stock for $65 per share; the effects are recorded using the cost method. What is the appropriate journal entry?
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7.
OPEN ENDED QUESTION
3 mins • 1 pt
The company reissues 1,000 shares of treasury stock for $70 per share
(shares were previously acquired for $65 per share).
Record the appropriate journal entry
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OFF
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