会计学原理第五次quiz试题

IntroductiontoAccounting FallInstructor:JianXue

Name Class/Department StudentID Quiz5Instructions:Writeyourname,studentID,andsectionnumberinthespaceprovidedabove.Thisisaclosed-book,closed-notequiz.Thereare2problem-solvingproblems.20pointsintotal.Youhave20minutestofinishthequiz.GoodLuck!PartI(10points)OnMarch1,2015,XueCompanypurchasedthefollowingstockaslong-terminvestmentsinavailable-for-salesecurities:HXYCorporationcommonstock(par$5),2,000sharesat$5pershare(10%outstandingshares)DCCorporationcommonstock(par$10),3,000sharesat$25pershare(15%outstandingshares)YMCorporationcommonstock(par$15),3,000sharesat$20pershare(20%outstandingshares)ThemarketpricespershareatDecember31,endoftheaccountingperiod,wereasfollows:StockDec.31,2015Dec.31,2016HXYcommon$4$3DCcommon$22$25YMcommon$25$17Preparetherequiredjournalentriesatthefollowingdates:March1,2015,December31,2015andDecember31,2016.PartII(10points)OnJanuary1,2016,thestockholders'equitysectionofXueCorporation'sbalancesheetshowedthefollowingDuringtheyear,2016,theaccountsshowedthefollowingsummarizedtransactions(assumetheyoccurredintheordergiven):Issueda20%stockdividend:2,000sharesissuedwhenthemarketpricewas$13.Purchasedtreasurystock(200sharesat$11).Declaredandpaidacashdividendof$22,000.Netincome,Requirement::Dothejournalentryfortransaction1,2,3;:Completethefollowingstockholders’equitysectionofthebalancesheetatDecember31,2016.STOCKHOLDERS’EQUITYCommonStock,par$ ;authorized shares;issued shares;outstanding shares. $ Capitalinexces