The following data has been collected about Howard Company’s stockholders’ equity accounts: Common stock $10 par value 20,000 shares authorized, 10,000 shares issued, and 9,000 shares outstanding $ 100,000 Paid-in capital in excess of par value, common stock      50,000 Retained earnings      25,000 Treasury stock      11,500 How much did Howard Company pay per share for its Treasury Stock?

Preferred stock that gives its owners the right to be paid both the current and all prior periods’ unpaid dividends before any dividend is paid to common stockholders is called:

Bernie Company purchased equipment and signed a 7 year installment loan at 9% annual interest. The annual payments equal $9,000. The amount of the loan is:

Nelli’s net income for the year ended December 31, Year 2 was $199,000. Information from Nelli’s comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2. At December 31 Year 2 Year 1 Common Stock, $5 par value $514,000 $462,600 Paid-in capital in excess of par 962,000 865,600 Retained earnings 702,000 594,600

Megan is planning to set-up an education fund for her grandchildren. She plans to invest $10,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 10 years?

On August 1, a $49,200, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $18,747.74. The entry to record the first payment on July 31 would include:

On July 1, Santosh Corporation borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $37,258. What amount of the SECOND annual payment will be applied towards reducing principal?

Moe’s Delicatessen Inc’s Income Statement showed the following: net income, $115,000; depreciation expense, $30,500; and gain on sale of plant assets, $4,500. The company’s current assets and current liabilities showed the following changes: accounts receivable decreased $9,500; merchandise inventory increased $18,500; prepaid expenses increased $6,300; accounts payable increased $3,500. Calculate the net cash provided or used by operating activities.

Burke Corporation sold 13,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:

Francis, Inc., had the following activities during the current year: -Acquired 2,000 shares of stock in Daly, Inc., for $26,000 -Sold an investment in bonds classified as available for sale for $35,000 when the carrying amount was $33,000 -Acquired a $50,000, 4-year certificate of deposit from a bank that was classified as held to maturity. (During the year, interest of $3,750 was paid to Francis.) -Collected dividends of $1,200 on stock investments in Byline Corporation In Francis’s current-year statement of cash flows, net cash used in investing activities should be