Exam 11: Reporting and Interpreting Stockholders Equity
Exam 1: Business Decisions and Financial Accounting211 Questions
Exam 2: Reporting Investing and Financing Results on the Balance Sheet193 Questions
Exam 3: Reporting Operating Results on the Income Statement235 Questions
Exam 4: Adjustments,financial Statements,and Financial Results246 Questions
Exam 5: Fraud, Internal Control, and Cash188 Questions
Exam 6: Internal Control and Financial Reporting for Cash and Merchandising Operations210 Questions
Exam 7: Reporting and Interpreting Inventories and Cost of Goods Sold214 Questions
Exam 8: Reporting and Interpreting Receivables,bad Debt Expense,and Interest Revenue230 Questions
Exam 9: Reporting and Interpreting Long-Lived Tangible and Intangible Assets266 Questions
Exam 10: Reporting and Interpreting Liabilities235 Questions
Exam 11: Reporting and Interpreting Stockholders Equity253 Questions
Exam 12: Reporting and Interpreting the Statement of Cash Flows208 Questions
Exam 13: Measuring and Evaluating Financial Performance170 Questions
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A company reported net income of $6 million.During the year the average number of common shares outstanding was 3 million.The price of a share of common stock at the end of the year was $5.There were 400,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative.
-Use the information above to answer the following question.The EPS is approximately:
(Multiple Choice)
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As of November 29,it appears that Notel will report earnings per share (EPS)of $1.15 for the quarter ended November 30.Which of the following events would cause this EPS number to decrease,assuming the event occurs the morning of November 30?
(Multiple Choice)
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Unpaid dividends on cumulative preferred stock are called dividends in arrears.
(True/False)
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Dividends in arrears are reported as current liabilities on the balance sheet.
(True/False)
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Which of the following is not a reason a company would repurchase stock?
(Multiple Choice)
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The statement of stockholder's equity differs from the statement of retained earnings in that the statement of stockholders' equity:
(Multiple Choice)
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The Wadsworth Corp.has common stock with a par value of $5.During the current year,it declared and paid dividends of $10,000.It sold at $20 per share an additional 1,000 shares of stock that had not been previously issued.In addition,it had net income of $50,000 for the year.What is the amount of change to its stockholders' equity for the year?
(Multiple Choice)
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The information below was extracted from the most recent financial statements of Milton Technologies (in millions, except for stock price):
-Use the information above to answer the following question.What is the EPS for the company's stock for the current year?

(Multiple Choice)
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Features of common stock usually include all of the following except:
(Multiple Choice)
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A company has the following paid-in capital:
-Use the information above to answer the following question.If the company pays a $35,000 dividend,and the preferred stock is cumulative and two years' dividends are in arrears,what is the amount the common stockholders will receive?

(Multiple Choice)
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If shares of common stock are issued at a market price greater than par value,the amount in excess of par should be credited to:
(Multiple Choice)
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A company has the following paid-in capital:
-Use the information above to answer the following question.If the company pays a $100,000 dividend,and the preferred stock is cumulative and three years' dividends are in arrears,what is the amount the preferred stockholders will receive?

(Multiple Choice)
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The right of current stockholders to purchase additional shares of newly issued stock in order to maintain the same percentage ownership is called:
(Multiple Choice)
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When a company reissues (or sells)shares of its treasury stock at an amount different than its cost,it reports a gain or a loss on the sale.
(True/False)
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Stock splits and large stock dividends have which of the following similarities or differences in their effects and requirements for a journal entry?


(Short Answer)
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If a corporation declares and distributes a stock dividend on its common shares:
(Multiple Choice)
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The journal entry to record a large stock dividend includes a:
(Multiple Choice)
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Which of the following line items are not found on a sole proprietorship's statement of owner's equity?
(Multiple Choice)
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