A) is the monetary value assigned per share in the corporate charter B) represents what a share of stock is worth C) represents the original selling price for a share of stock D) is established for a share of stock after it is issued A) is the monetary value assigned per share in the corporate charter B) represents what a share of stock is worth C) represents the original selling price for a share of stock D) is established for a share of stock after it is issued

Exam 13: Corporations: Organization, Stock Transactions, and Dividends

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1:$10,000Year 2:45,000Year 3:90,000Determine the dividends per share for preferred and common stock for the first year.

(Multiple Choice)

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Question 141

A large public corporation normally uses registrars and transfer agents to maintain the records of stockholders.

(True/False)

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Question 142

The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organizing the corporation includes a credit to

(Multiple Choice)

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Question 143

Torre Company has the following stockholders' equity account balances in stockholders' equity on December 31.Common Stock, $5 par (60,000 shares issued)$300,000Paid-In Capital in Excess of Par-Common Stock600,000Preferred Stock, $100 par (5,000 shares issued)500,000Paid-In Capital in Excess of Par-Preferred Stock100,000Retained Earnings200,000Treasury Stock (cost, $12 per share)60,000 (a)How many shares of treasury stock are owned? (b)What was the average market price per share at which common stock was issued? (c)What was the average market price per share at which preferred stock was issued? (d)What is the total value of the paid-in capital portion of stockholders' equity? (e)What is the total value of stockholders' equity? (f)How many shares of common stock are outstanding? (g)If net income for the year was $75,000 and a preferred stock dividend of $20,000 was paid, what was the beginning value of retained earnings? How much is earnings per share for the year?

(Essay)

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Question 144

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1$10,000Year 245,000Year 390,000Determine the dividends per share for preferred and common stock for the second year.

(Multiple Choice)

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Question 145

Big Bluestem Inc. reported the following results for the year ending April 30: Prepare a retained earnings statement for the fiscal year ended April 30.

(Essay)

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Question 146

Treasury Stock is listed in the Stockholders' equity section on the balance sheet.

(True/False)

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Question 147

A company has 10,000 shares of $10 par common stock outstanding. Prepare entries to record the following: (a)Purchased 1,000 shares of treasury stock at $12. The treasury stock is accounted for by the cost method. There were no previous purchases of treasury shares. (b)Sold 500 shares of treasury stock at $15. (c)Purchased equipment for $75,000, paying $25,000 in cash and issuing 4,000 shares of common stock for the remaining. (d)Sold 500 shares of treasury stock at $11.

(Essay)

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Question 148

Match each of the following stockholders' equity concepts to the appropriate term (a-h). -Creditors cannot pursue stockholders' personal assets to satisfy claims

(Multiple Choice)

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Question 149

The declaration of a cash dividend decreases a corporation's stockholders equity and decreases its assets.

(True/False)

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Question 150

The net increase or decrease in Retained Earnings for a period is recorded by closing entries.

(True/False)

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Question 151

A restriction/appropriation of retained earnings

(Multiple Choice)

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Question 152

The following account balances appear on the balance sheet of Osgood Industries:?Common Stock (300,000 shares authorized, $100 par)$10,000,000Paid-In Capital in Excess of Par-Common Stock2,000,000Retained Earnings45,000,000?The board of directors declared a 2% stock dividend when the market price of the stock was $135 per share.?Required

(Essay)

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Question 153

Assume that retained earnings had a beginning balance of $75,000. Match the following amounts to the appropriate term (a-h). -Excess of Issue Price over Par (Common) = Excess Price of Common Stock × Number of Shares of Common Stock Issued = ($12 - $2) × 10,000 = $100,000

(Multiple Choice)

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Question 154

Sabas Company has 20,000 shares of $100 par, 1% noncumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Determine the dividends per share for preferred and common stock for each year.

(Essay)

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Question 155

Significant changes in stockholders' equity are reported on the

(Multiple Choice)

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Question 156

While some businesses have been granted charters under state laws, most businesses receive their charters under federal laws.

(True/False)

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Question 157

Match each of the following stockholders' equity concepts to the most appropriate term (a-h). -The maximum number of shares a company can issue to shareholders

(Multiple Choice)

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Question 158

Par value

(Multiple Choice)

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Question 159

The two main sources of stockholders' equity are

(Multiple Choice)

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Question 160

Showing 141 - 160 of 217

Exam 13: Corporations: Organization, Stock Transactions, and Dividends

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1:$10,000Year 2:45,000Year 3:90,000​Determine the dividends per share for preferred and common stock for the first year.

A large public corporation normally uses registrars and transfer agents to maintain the records of stockholders.

The entry to record the issuance of 150 shares of $5 par common stock at par to an attorney in payment of legal fees for organizing the corporation includes a credit to

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1$10,000Year 245,000Year 390,000​Determine the dividends per share for preferred and common stock for the second year.

Big Bluestem Inc. reported the following results for the year ending April 30:​​ Prepare a retained earnings statement for the fiscal year ended April 30.

Treasury Stock is listed in the Stockholders' equity section on the balance sheet.

Match each of the following stockholders' equity concepts to the appropriate term (a-h). -Creditors cannot pursue stockholders' personal assets to satisfy claims

The declaration of a cash dividend decreases a corporation's stockholders equity and decreases its assets.

The net increase or decrease in Retained Earnings for a period is recorded by closing entries.

A restriction/appropriation of retained earnings

Assume that retained earnings had a beginning balance of $75,000. Match the following amounts to the appropriate term (a-h). -Excess of Issue Price over Par (Common) = Excess Price of Common Stock × Number of Shares of Common Stock Issued = ($12 - $2) × 10,000 = $100,000

Sabas Company has 20,000 shares of $100 par, 1% noncumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:​ Determine the dividends per share for preferred and common stock for each year.

Significant changes in stockholders' equity are reported on the

While some businesses have been granted charters under state laws, most businesses receive their charters under federal laws.

Match each of the following stockholders' equity concepts to the most appropriate term (a-h). -The maximum number of shares a company can issue to shareholders

Par value

The two main sources of stockholders' equity are

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

Completing the Accounting Cycle

Accounting Systems

Accounting for Merchandising Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Current Liabilities and Payroll

Accounting for Partnerships and Limited Liability Companies

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Cost-Volume-Profit Analysis

Evaluating Variances From Standard Costs

Decentralized Operations

Differential Analysis, Product Pricing, and Activity-Based Costing

Capital Investment Analysis

Filters

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1:$10,000Year 2:45,000Year 3:90,000Determine the dividends per share for preferred and common stock for the first year.

Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:Year 1$10,000Year 245,000Year 390,000Determine the dividends per share for preferred and common stock for the second year.

Big Bluestem Inc. reported the following results for the year ending April 30: Prepare a retained earnings statement for the fiscal year ended April 30.

Sabas Company has 20,000 shares of $100 par, 1% noncumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Determine the dividends per share for preferred and common stock for each year.