Blue Angel Company has $110,000 of 9% noncumulative, preferred stock outstanding. Blue Angel also has $510,000 of common stock outstanding. In the company’s first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $31,000. This dividend should be distributed as follows:

The effective-interest method of amortizing bond premium applies a(n) _________ rate of interest to a(n) __________ carrying amount of the bond payable.

Massey Company’s property records revealed the following information about its plant assets:   Machine number Cost Salvage Value Purchase Date Estimated Life Depreciation Method A $ 82,000 $ 8,000 January 1 4 years Straight-line B 46,000 3,600 July 1 5 years Double-declining balance   Calculate the following: -Depreciation expense on Machine A in Year 1: -Net book value of Machine A at the End of Year 2: -Net book value of Machine B at the End of Year 1: -Accumulated Depreciation on Machine B at the end of Year 2:

On September 15, Oakton Company sold merchandise in the amount of $7,800 to Dempster Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Oakton uses the periodic inventory system. The journal entry or entries Oakton will make on September 15 is:

When a company provides additional shares to stockholders according to their percent ownership, it is known as a(n):

Seymour borrows money by promising to make a single payment of $112,000 at the end of 4 years. How much money is Seymour able to borrow today if the interest rate is 12%, compounded semiannually?

Tran Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $35,500; net cash used in investing activities was $13,000 and net cash used in financing activities was $16,500. If the beginning cash balance is $6,500, what is the ending cash balance?

Maple Corporation accepted a $17,200, 90-day, 6% note from Tracy Janitorial on October 17. What entry should Maple Corporation make on January 15 of the next year when the note is paid?  Note: Use 360 days a year.

The effective-interest method of amortizing bond premium applies a(n) _________ rate of interest to a(n) __________ carrying amount of the bond payable.

Nalepa Inc. purchased equipment for $23,500 on April 1, 2022. The equipment will be depreciated using the straight-line method over its four-year useful life. Assuming the equipment’s salvage value is $2,300, what will be the amount of accumulated depreciation on the equipment on December 31, 2024?