the common stock was $ 40 per share , all of the preferred stock was converted . What amount should Brad credit to Common Stock and to Additional Paid-in Capital -- Common Stock as a result of the conversion ?
Question 15
A company declared a cash dividend on its common stock on December 15 , 2003 , payable on January 12 , 2004 . How would this dividend affect stockholders ' equity on the following dates ?
Question 16
Beck Corp . issued 200,000 shares of common stock when it began operations in 2003 and issued an additional 100,000 shares in 2004 . Beck also issued preferred stock convertible to 100,000 shares of common stock . In 2005 , Beck purchased 75,000 shares of its common stock and held it in Treasury . At December 31 , 2005 , how many shares of Beck ' s common stock were outstanding ?
Question 17
On January 2 , 2005 , Nast Co . issued 8 % bonds with a face amount of $ 1,000,000 that mature on January 2 , 2011 . The bonds were issued to yield 12 %, resulting in a discount of $ 150,000 . Nast incorrectly used the straight-line method instead of the effective interest method to amortize the discount . How is the carrying amount of the bonds affected by the error ?
Question 18