Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30, 2012:

Supper Company Ltd.

Stockholders’ Equity

June 30,2012

Paid-in Capital

Preferred stock, 10%,? par, 650,000 shares authorized, 280,000 shares issued $ 1,400,000

Common stock, par value $? per share, 5,000,000 shares authorized,

1,000,000 shares issued and outstanding

2,000,000

Paid-in capital in excess of par—common 6,000,000

Total paid-in capital 9,400,000

Retained earnings 12,300,000

Total Stockholders’ equity $21,700,000

Requirements:

1. What is the par value per share of Supper’s preferred stock? (Show Workings)

2. What is the par value per share of Supper’s common stock? (Show Workings)

3. What is the selling per share for the $6,000,000 reported as paid-in capital in excess of par –

common? (Show Workings)

4. Prepare two (2) summary journal entries to record issuance of all the Supper Company Ltd stock for

cash. Explanations are not required.

Which type of data does your company collect from customers or potential customers? a. positioning datab. market share datac. primary datad. secondary data select the best answer from the choices provided

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.