Use the following information for Questions 38 – 40:
Hopeful Company’s balance sheet is...
Business, 13.03.2020 19:15 RickyGotFanz4867
Use the following information for Questions 38 – 40:
Hopeful Company’s balance sheet is as follows:
Hopeful Company
Balance Sheet, pre-quasi-reorganization
Assets
Liabilities and Equity
Cash
$ 60,000
Loans payable
$1,220,000
Inventories
550,000
Common stock, $10 par
550,000
Property (net)
950,000
Additional paid-in capital
400,000
Retained earnings
(610,000)
Total
$1,560,000
Total
$1,560,000
The company enters into a quasi-reorganization. Pursuant to this plan, inventories are written down by $50,000 and property is reduced by $180,000. The par value of the common stock is reduced to $2/share.
38. After the quasi-reorganization, total assets are reported at:
a. $1,560,000
b. $1,790,000
c. $1,330,000
d. $1,270,000
39. At the completion of the quasi-reorganization process, the balance in additional paid-in capital is:
a. $230,000
b. $0
c. $400,000
d. $ 55,000
40. At the completion of the quasi-reorganization process, the balance in the common stock, $2 par account is:
a. $550,000
b. $440,000
c. $ 55,000
d. $110,000
Answers: 2
Business, 22.06.2019 04:10, octaviangh14
You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?
Answers: 1
Business, 22.06.2019 10:00, annafellows
Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a
Answers: 3
Business, 22.06.2019 17:30, lanamiami
After the embarrassing sign incident at the restaurant you own, you decide to offer employees a six-week fundamental writing skills workshop. a local business communication instructor, who has experience teaching writing skills at treleaven community college, will facilitate the sessions. to encourage employees to attend these optional sessions, write an email that explains why you’re offering the workshop and why employees should participate.
Answers: 2
Business, 22.06.2019 18:30, jdilla98
Order these statements in the correct order to fill in the central idea and key points for a chronological speech. question 22 options: there are several steps that someone must take to become a doctor. finally, you will need to get a medical license, and become board certified in your specialty area. then, you must get admitted into to medical school and earn a medical degree. next, you will need to complete a residency. first you must earn a bachelors degree.
Answers: 2
Engineering, 27.04.2021 03:40
Mathematics, 27.04.2021 03:40
English, 27.04.2021 03:40
Arts, 27.04.2021 03:40