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20. Following are balance sheet amounts for Carolina Company as of 12/31/17:

Preferred Stock $ 200,000

Common Stock 300,000

Paid-In Capital in Excess of Par - Preferred 200,000

Paid-In Capital in Excess of Par - Common 400,000

Retained Earnings 500,000

Treasury Stock 100,000

Paid In Capital from Treasury Stock 50,000

Given the above what is total paid in capital?

Select one:

a. $1,150,000

b. $1,100,000

c. $1,000,000

d. $ 600,000

e. $ 650,000

21. A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7%. Interest is paid semiannually on January 1 and July 1. If the corporation uses the effective-interest method of amortization of bond premium, the carrying value of the bonds on January 1, 2019 is

Select one:

a. $617,911

b. $629,198.

c. $626,001.

d. $638,932.

e. $633,817.

24. The cumulative effect of the declaration and payment of a cash dividend on a company's financial statements is to

Select one:

a. increase total liabilities and decrease total assets.

b. decrease total liabilities and stockholders' equity.

c. increase total expenses and total liabilities.

d. decrease total assets and stockholders' equity.

e. increase total assets and stockholders' equity.

26. The following selected amounts are available for Vizio Company:

Retained earnings (beginning) $1,600

Net loss 300

Write off of uncollectible receivable (to allowance for doubtful accounts) 200

Inventory overstatement from prior period (net of tax) 500

Cash dividends declared 200

Stock dividends declared 200

Based upon the above information, what is Vizio's ending retained earnings balance?

Select one:

a. $ 200

b. $1,400

c. $1,200

d. $ 400

e. $1,800

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