Where is treasury stock reported on a corporation’s balance sheet?

Ix Company issued 42,000 shares of $10 par value common stock at a market price of $34. As a result of this accounting event, the amount of stockholders’ equity would:

Which of the following statements about the impact of treasury stock on the amounts reported on the balance sheet is correct?

Jones Company issued bonds with a $200,000 face value on January 1, Year 1. The five-year term bonds were issued at 97 and had a 7½% stated rate of interest that is payable in cash on December 31st of each year. Jones amortizes the bond discount using the straight-line method. Based on this information: The amount of interest expense shown on Jones’s December 31, Year 1 income statement would be:

On January 2, Year 1, Torres Corporation issued 20,000 shares of $15 par-value common stock for $22 per share. Which of the following statements is true?

Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 400,000 shares of $12 par value common stock. As of December 30, Year 1, Gilligan’s stockholders’ equity accounts report the following balances: Common stock, $12 par, 400,000 shares authorized 40,000 shares issued and outstanding        $     480,000 Paid-in capital in excess of par – Common 80,000 Retained earnings 485,000 Total Stockholders’ Equity $  1,045,000 On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $38 per share. What is the number of shares outstanding after the stock dividend is issued?

Monthly remittance of sales tax:

Which of the following entities would have a paid-in capital in excess of par (or stated) value account in the equity section of the balance sheet?

Madison Company issued an interest-bearing note payable with a face amount of $30,600 and a stated interest rate of 8% to the Metropolitan Bank on August 1, Year 1. The note carried a one-year term. Based on this information alone, the amount of total liabilities appearing on Madison’s Year 1 balance sheet would be:

 According to Gregory Chahrozian, the most impactful factor in education is: