Question 1

To what does Andrew Mason,the founder of Groupon,attribute his success?

Accepted Answer

Andrew feels that his success would not

Question 2

A stock dividend transfers:

Accepted Answer

A) Contributed capital to retained earnings. 
B) Retained earnings to contributed capital. 
C) Retained earnings to assets. 
D) Contributed capital to assets. 
E) Assets to contributed capital. 
A) Contributed capital to retained earnings. 
B) Retained earnings to contributed capital. 
C) Retained earnings to assets. 
D) Contributed capital to assets. 
E) Assets to contributed capital.

Question 3

A company issued 60 shares of $100 par value stock for $7,000 cash.The total amount of paid-in capital in excess of par is:

Accepted Answer

A) $100 
B) $600 
C) $1,000 
D) $6,000 
E) $7,000 
A) $100 
B) $600 
C) $1,000 
D) $6,000 
E) $7,000

Question 4

A corporation reports the following year-end stockholders' equity:
   Determine the following:
(1) Par value for the preferred stock.
(2) Book value per share for both preferred stock and common stock assuming a call price per share of $52 for preferred and no dividends in arrears.

Accepted Answer

(1) Preferred stock par value

Question 5

Stock that is not assigned a value per share by the corporate charter is called __________________.

Accepted Answer

The answer of Stock that is not assigned a value...

Question 6

A corporation's minimum legal capital is often defined to be the total par value of the shares:

Accepted Answer

A) Issued 
B) Authorized 
C) Subscribed 
D) Outstanding 
E) In treasury 
A) Issued 
B) Authorized 
C) Subscribed 
D) Outstanding 
E) In treasury

Question 7

A company had net income of $250,000.On January 1,there were 12,000 shares of common stock outstanding.On May 1,the company issued an additional 9,000 shares of common stock.The company declared a $7,900 dividend on its noncumulative,nonparticipating preferred stock.There were no other stock transactions.The company had earnings per share of:

Accepted Answer

A) $13.45 
B) $13.89 
C) $11.53 
D) $26.90 
E) Amount cannot be determined as problem does not state if there are any dividends in arrears. 
A) $13.45 
B) $13.89 
C) $11.53 
D) $26.90 
E) Amount cannot be determined as problem does not state if there are any dividends in arrears.

Question 8

A company's board of directors votes to declare a cash dividend of $0.75 per share.The company has 15,000 shares authorized,10,000 issued,and 9,500 shares outstanding.The total amount of the cash dividend is:

Accepted Answer

A) $375 
B) $4,125 
C) $7,125 
D) $7,500 
E) $11,250 
A) $375 
B) $4,125 
C) $7,125 
D) $7,500 
E) $11,250

Question 9

_________________________ has special rights that give it priority or senior status over common stock in one or more areas such as receiving dividends or for the distribution of assets if the corporation is liquidated.

Accepted Answer

The answer of _________________________ has special rights that give it...

Question 10

The Burnham Corp.issues 2,000 shares of no-par stock for $10 cash per share.How would the company record this transaction?

Accepted Answer

A) Debit Cash for $20,000 and credit Paid-In Capital,Common Stock for $20,000. 
B) Debit Cash for $20,000 and credit Common Stock,No-Par Value for $20,000. 
C) Debit Cash for $20,000 and credit Paid-In Capital for $20,000. 
D) Debit Cash for $20,000 and credit Paid-In Capital in Excess of Par Value,Common Stock for $20,000. 
E) Debit Common Stock,No-Par Value for $20,000 and credit Cash for $20,000. 
A) Debit Cash for $20,000 and credit Paid-In Capital,Common Stock for $20,000. 
B) Debit Cash for $20,000 and credit Common Stock,No-Par Value for $20,000. 
C) Debit Cash for $20,000 and credit Paid-In Capital for $20,000. 
D) Debit Cash for $20,000 and credit Paid-In Capital in Excess of Par Value,Common Stock for $20,000. 
E) Debit Common Stock,No-Par Value for $20,000 and credit Cash for $20,000.

Question 11

A company's stock is selling for $67.20 per share and its earnings per share is $3.50 for the current year.Calculate the price-earnings ratio.

Accepted Answer

The answer of A company's stock is selling for $67.20...

Question 12

A corporation had 40,000 shares of $10 par value common stock outstanding on August 1.Later that day,the board of directors declared a 9% stock dividend when the market value of each share was $72.The entry to record this dividend is:

Accepted Answer

A)    
B)    
C)    
D)    
E) No entry is made until the stock is issued 
A)    
B)    
C)    
D)    
E) No entry is made until the stock is issued

Question 13

____________________ preferred stock gives holders the option to exchange their preferred shares for common shares at a specified rate.

Accepted Answer

The answer of ____________________ preferred stock gives holders the option...

Question 14

Identify and discuss the key differences between common and preferred stock.

Accepted Answer

Both common and preferred stock can repr

Question 15

A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
   Prepare the journal entries to record these transactions.

Accepted Answer

@#IMG-DLM&_TB6947_00

Question 16

What journal entries are recorded for cash dividends on the declaration date,the date of record,and the payment date?

Accepted Answer

When a corporate board of directors decl

Question 17

Holders of ______________________________ have a right to be paid both current and all prior periods' unpaid dividends before any dividend is paid to common shareholders.

Accepted Answer

cumulative

Question 18

A company has a market value per share of $73.00.Its net income is $1,750,000 and the weighted-average number of shares outstanding is 350,000.The company's price-earnings ratio is equal to:

Accepted Answer

A) 20.9 
B) 4.2 
C) 14.6 
D) 20.0 
E) 6.8 
A) 20.9 
B) 4.2 
C) 14.6 
D) 20.0 
E) 6.8

Question 19

Premier's outstanding stock consists of (a) 57,000 shares of cumulative 4.25% preferred stock with an $18 par value and (b) 75,000 shares of common stock with a $1 par value.During its first four years of operation,the corporation declared and paid the following total cash dividends:   What is the amount of dividends that the Common Stockholders receive for all years presented?

Accepted Answer

A) $177,000 
B) $188,580 
C) $214,250 
D) $326,000 
E) $363,000 
A) $177,000 
B) $188,580 
C) $214,250 
D) $326,000 
E) $363,000

Question 20

On July 31,a company declared a cash dividend of $0.25 per common share to the shareholders of record on August 15.The cash dividend will be paid on August 25.This company has 500,000 shares authorized and 100,000 shares outstanding.Prepare the journal entries required on July 31,August 15,and August 25.

Accepted Answer

@#IMG-DLM&_TB6947_00

To what does Andrew Mason,the founder of Groupon,attribute his success?

A stock dividend transfers:

A company issued 60 shares of $100 par value stock for $7,000 cash.The total amount of paid-in capital in excess of par is:

A corporation reports the following year-end stockholders' equity: Determine the following: (1) Par value for the preferred stock. (2) Book value per share for both preferred stock and common stock assuming a call price per share of $52 for preferred and no dividends in arrears.

Stock that is not assigned a value per share by the corporate charter is called __________________.

A corporation's minimum legal capital is often defined to be the total par value of the shares:

A company's board of directors votes to declare a cash dividend of $0.75 per share.The company has 15,000 shares authorized,10,000 issued,and 9,500 shares outstanding.The total amount of the cash dividend is:

_________________________ has special rights that give it priority or senior status over common stock in one or more areas such as receiving dividends or for the distribution of assets if the corporation is liquidated.

The Burnham Corp.issues 2,000 shares of no-par stock for $10 cash per share.How would the company record this transaction?

A company's stock is selling for $67.20 per share and its earnings per share is $3.50 for the current year.Calculate the price-earnings ratio.

A corporation had 40,000 shares of $10 par value common stock outstanding on August 1.Later that day,the board of directors declared a 9% stock dividend when the market value of each share was $72.The entry to record this dividend is:

____________________ preferred stock gives holders the option to exchange their preferred shares for common shares at a specified rate.

Identify and discuss the key differences between common and preferred stock.

A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year: Prepare the journal entries to record these transactions.

What journal entries are recorded for cash dividends on the declaration date,the date of record,and the payment date?

Holders of ______________________________ have a right to be paid both current and all prior periods' unpaid dividends before any dividend is paid to common shareholders.

A company has a market value per share of $73.00.Its net income is $1,750,000 and the weighted-average number of shares outstanding is 350,000.The company's price-earnings ratio is equal to:

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Cash Flows

Analyzing and Interpreting Financial Statements

Applying Present and Future Values

Investments and International Operations

Accounting for Partnerships

Accounting With Special Journals

Filters

Exam 11: Reporting and Analyzing Equity

To what does Andrew Mason,the founder of Groupon,attribute his success?

A stock dividend transfers:

A company issued 60 shares of $100 par value stock for $7,000 cash.The total amount of paid-in capital in excess of par is:

A corporation reports the following year-end stockholders' equity: Determine the following: (1) Par value for the preferred stock. (2) Book value per share for both preferred stock and common stock assuming a call price per share of $52 for preferred and no dividends in arrears.

Stock that is not assigned a value per share by the corporate charter is called __________________.

A corporation's minimum legal capital is often defined to be the total par value of the shares:

A company's board of directors votes to declare a cash dividend of $0.75 per share.The company has 15,000 shares authorized,10,000 issued,and 9,500 shares outstanding.The total amount of the cash dividend is:

_________________________ has special rights that give it priority or senior status over common stock in one or more areas such as receiving dividends or for the distribution of assets if the corporation is liquidated.

The Burnham Corp.issues 2,000 shares of no-par stock for $10 cash per share.How would the company record this transaction?

A company's stock is selling for $67.20 per share and its earnings per share is $3.50 for the current year.Calculate the price-earnings ratio.

A corporation had 40,000 shares of $10 par value common stock outstanding on August 1.Later that day,the board of directors declared a 9% stock dividend when the market value of each share was $72.The entry to record this dividend is:

____________________ preferred stock gives holders the option to exchange their preferred shares for common shares at a specified rate.

Identify and discuss the key differences between common and preferred stock.

A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year: Prepare the journal entries to record these transactions.

What journal entries are recorded for cash dividends on the declaration date,the date of record,and the payment date?

Holders of ______________________________ have a right to be paid both current and all prior periods' unpaid dividends before any dividend is paid to common shareholders.

A company has a market value per share of $73.00.Its net income is $1,750,000 and the weighted-average number of shares outstanding is 350,000.The company's price-earnings ratio is equal to:

Introducing Financial Accounting

Accounting System and Financial Statements

Adjusting Accounts for Financial Statements

Reporting and Analyzing Merchandising Operations

Reporting and Analyzing Inventories

Reporting and Analyzing Cash and Internal Controls

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Term Assets

Reporting and Analyzing Current Liabilities

Reporting and Analyzing Long-Term Liabilities

Reporting and Analyzing Cash Flows

Analyzing and Interpreting Financial Statements

Applying Present and Future Values

Investments and International Operations

Accounting for Partnerships

Accounting With Special Journals

Filters