Exam 11: Reporting and Interpreting Stockholders Equity

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Which of the following statements is correct?

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Treasury stock is a corporation's own stock that has been issued and subsequently repurchased by the corporation.

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Which one of the following statements about earnings per share (EPS)is correct?

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Stock dividends and stock splits are similar in all of the following ways except:

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What does the par value of a stock represent?

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A stock split increases total stockholders' equity.

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A company has 110,000 shares authorized,50,000 shares issued,and 5,000 shares of treasury stock.How many shares are outstanding?

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One of the advantages of a partnership is:

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A cumulative dividend preference means that:

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At the end of the prior year,Atoka Industries reported the following account balances: At the end of the prior year,Atoka Industries reported the following account balances:   The treasury stock arose from a purchase of 10,000 shares of common stock for $78 per share.If the 10,000 treasury shares are issued for $50 per share in in the current year,what journal entry must be prepared to record the transaction? The treasury stock arose from a purchase of 10,000 shares of common stock for $78 per share.If the 10,000 treasury shares are issued for $50 per share in in the current year,what journal entry must be prepared to record the transaction?

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If a company does not have any accumulated other comprehensive income (loss),stockholders' equity is the:

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Nova,Inc.is considering declaring a $100,000 cash dividend.Nova has a cash balance of $20,000 and Retained Earnings balance of $100,000.Nova should:

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A dividend date of record is the date on which the corporation:

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Preferred stock has some distinctly different characteristics from common stock.Which of the characteristics below is not related to preferred stock?

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A stock dividend transfers:

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Use the information above to answer the following question.What journal entry will record the reissuance on July 3?

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A debit balance in Retained Earnings is:

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The information below was extracted from the most recent financial statements of Milton Technologies (in millions, except for stock price): 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 company's return on equity (ROE)for the current year? -Use the information above to answer the following question.What is the company's return on equity (ROE)for the current year?

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A company reported net income of $5.6 million.At the beginning of the year,3.4 million shares of common stock were outstanding and at the end of the year,3.6 million shares were outstanding.No dividends were declared.The EPS is approximately:

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An LLC is different from a corporation in that an LLC has:

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