A) shares issued by the U.S.Treasury Department. B) shares purchased by a corporation and held as an investment in its treasury. C) corporate shares issued by the treasurer of a company. D) a corporation's own shares which have been reacquired but not retired. A) shares issued by the U.S.Treasury Department. B) shares purchased by a corporation and held as an investment in its treasury. C) corporate shares issued by the treasurer of a company. D) a corporation's own shares which have been reacquired but not retired.

Exam 11: Corporations: Organization, Share Transactions, Dividends,and Retained Earnings

King George Company was authorized to issue 50,000 ordinary shares.The company issued 22,000 shares and later purchased 5,000 shares of treasury shares.The number of outstanding ordinary shares is:

(Multiple Choice)

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Question 141

If a corporation pays taxes on its income, then shareholders will not have to pay taxes on the dividends received from that corporation.

(True/False)

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Question 142

Organization costs are capitalized by debiting an intangible asset entitled Organization Costs.

(True/False)

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Question 143

The board of directors must assign a per share value to a share dividend declared that is

(Multiple Choice)

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Question 144

Elton Manufacturing Corporation purchased 4,000 shares of its own previously issued $10 par ordinary shares for $92,000.As a result of this event,

(Multiple Choice)

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Question 145

Treasury shares are

(Multiple Choice)

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Question 146

Venco declared and paid a €38,000 cash dividend on December 15, 2010.If the company's dividends in arrears prior to that date were €9,000, Venco's ordinary shareholders received

(Multiple Choice)

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Question 147

Franklin, Inc. declares a 10\% ordinary share dividend when it has 30,000 ordinary shares with a $\$ 10$ par value outstanding. If the market value of $\$ 24$ per share is used, the amounts debited to Retained Earnings and credited to Share Premium-Ordinary are: $Franklin, Inc. declares a 10\% ordinary share dividend when it has 30,000 ordinary shares with a \$ 10 par value outstanding. If the market value of \$ 24 per share is used, the amounts debited to Retained Earnings and credited to Share Premium-Ordinary are:$

(Short Answer)

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Question 148

Preference shareholders generally do not have the right to vote for the board of directors.

(True/False)

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Question 149

Cuther Inc has 1,000 shares of 6%, $50 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2010, and December 31, 2011.The board of directors declared and paid a $2,000 dividend in 2010.In 2011, $12,000 of dividends are declared and paid.What are the dividends received by the ordinary shareholders in 2011?

(Multiple Choice)

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Question 150

What is ordinarily the first step in the formation of a corporation in the United States

(Multiple Choice)

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Question 151

The face of a share certificate shows all of the following expect

(Multiple Choice)

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Question 152

A small share dividend is defined as

(Multiple Choice)

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Question 153

New Corp.issues 2,000 ordinary shares with a $10 par value at $14 per share.When the transaction is recorded, credits are made to

(Multiple Choice)

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Question 154

Use the following information to answer questions . -As of December 31, 2011, the number of outstanding ordinary shares is

(Multiple Choice)

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Question 155

ABC, Inc.has 1,000 shares of 5%, $100 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2011.What is the annual dividend on the preference shares?

(Multiple Choice)

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Question 156

James Corporation issued 1,000 preference shares with a par value of CHF100 for CHF205 per share.The entry to record this transaction includes a credit to Share Premium-Preference for

(Multiple Choice)

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Question 157

On January 1, Swanson Corporation had 60,000 ordinary shares with a €10 par value outstanding.On March 17, the company declared a 15% share dividend to shareholders of record on March 20.Market value of the shares was €13 on March 17.The shares were distributed on March 30.The entry to record the transaction of March 30 would include a

(Multiple Choice)

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Question 158

Which of the following is not a right or preference associated with preference stock?

(Multiple Choice)

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Question 159

When shares are issued for legal services, the transaction is recorded by debiting Organization Expense for the

(Multiple Choice)

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Question 160

Showing 141 - 160 of 205

King George Company was authorized to issue 50,000 ordinary shares.The company issued 22,000 shares and later purchased 5,000 shares of treasury shares.The number of outstanding ordinary shares is:

If a corporation pays taxes on its income, then shareholders will not have to pay taxes on the dividends received from that corporation.

Organization costs are capitalized by debiting an intangible asset entitled Organization Costs.

The board of directors must assign a per share value to a share dividend declared that is

Elton Manufacturing Corporation purchased 4,000 shares of its own previously issued $10 par ordinary shares for $92,000.As a result of this event,

Treasury shares are

Venco declared and paid a €38,000 cash dividend on December 15, 2010.If the company's dividends in arrears prior to that date were €9,000, Venco's ordinary shareholders received

Preference shareholders generally do not have the right to vote for the board of directors.

What is ordinarily the first step in the formation of a corporation in the United States

The face of a share certificate shows all of the following expect

A small share dividend is defined as

New Corp.issues 2,000 ordinary shares with a $10 par value at $14 per share.When the transaction is recorded, credits are made to

Use the following information to answer questions . -As of December 31, 2011, the number of outstanding ordinary shares is

ABC, Inc.has 1,000 shares of 5%, $100 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2011.What is the annual dividend on the preference shares?

James Corporation issued 1,000 preference shares with a par value of CHF100 for CHF205 per share.The entry to record this transaction includes a credit to Share Premium-Preference for

Which of the following is not a right or preference associated with preference stock?

When shares are issued for legal services, the transaction is recorded by debiting Organization Expense for the

Accounting in Action

The Recording Process

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Fraud, Internal Control, and Cash

Accounting for Receivables

Plant Assets, Natural Resources, and Intangible Assets

Liabilities

Investments

Statement of Cash Flows

Financial Statement Analysis

Payroll Accounting

Other Significant Liabilities

Filters

Exam 11: Corporations: Organization, Share Transactions, Dividends,and Retained Earnings

King George Company was authorized to issue 50,000 ordinary shares.The company issued 22,000 shares and later purchased 5,000 shares of treasury shares.The number of outstanding ordinary shares is:

If a corporation pays taxes on its income, then shareholders will not have to pay taxes on the dividends received from that corporation.

Organization costs are capitalized by debiting an intangible asset entitled Organization Costs.

The board of directors must assign a per share value to a share dividend declared that is

Elton Manufacturing Corporation purchased 4,000 shares of its own previously issued $10 par ordinary shares for $92,000.As a result of this event,

Treasury shares are

Venco declared and paid a €38,000 cash dividend on December 15, 2010.If the company's dividends in arrears prior to that date were €9,000, Venco's ordinary shareholders received

Franklin, Inc. declares a 10\% ordinary share dividend when it has 30,000 ordinary shares with a $10 \$ 10 $10 par value outstanding. If the market value of $24 \$ 24 $24 per share is used, the amounts debited to Retained Earnings and credited to Share Premium-Ordinary are:

Preference shareholders generally do not have the right to vote for the board of directors.

What is ordinarily the first step in the formation of a corporation in the United States

The face of a share certificate shows all of the following expect

A small share dividend is defined as

New Corp.issues 2,000 ordinary shares with a $10 par value at $14 per share.When the transaction is recorded, credits are made to

Use the following information to answer questions . -As of December 31, 2011, the number of outstanding ordinary shares is

ABC, Inc.has 1,000 shares of 5%, $100 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2011.What is the annual dividend on the preference shares?

James Corporation issued 1,000 preference shares with a par value of CHF100 for CHF205 per share.The entry to record this transaction includes a credit to Share Premium-Preference for

Which of the following is not a right or preference associated with preference stock?

When shares are issued for legal services, the transaction is recorded by debiting Organization Expense for the

Accounting in Action

The Recording Process

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Fraud, Internal Control, and Cash

Accounting for Receivables

Plant Assets, Natural Resources, and Intangible Assets

Liabilities

Investments

Statement of Cash Flows

Financial Statement Analysis

Payroll Accounting

Other Significant Liabilities

Filters