1. A corporation issues 4,900 shares of common stock for $156,800. The stock has a...
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Accounting
1. A corporation issues 4,900 shares of common stock for $156,800. The stock has a stated value of $18 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include?
Select the correct answer.
A. $156,800
B. $4,900
C. $68,600
D. $88,200
2.
Harding Company
Accounts payable
$ 40,000
Accounts receivable
65,000
Accrued liabilities
7,000
Cash
30,000
Intangible assets
40,000
Inventory
72,000
Long-term investments
110,000
Long-term liabilities
75,000
Marketable securities
36,000
Notes payable (short-term)
30,000
Property, plant, and equipment
625,000
Prepaid expenses
2,000
Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point?
A. 1.7
B. 2.6
C.0.9
D. 2.7
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