Question 1

A stock option is also called a stock dividend.

Accepted Answer

A) True 
 B)False

Question 2

Duke Corporation reports the following components of stockholders' equity on December 31,2013:     What is the amount in the Retained Earnings account immediately after the dividend on July 15?

Accepted Answer

A) $264,750 
B) $392,500 
C) $460,000 
D) $338,500 
E) $470,000 
A) $264,750 
B) $392,500 
C) $460,000 
D) $338,500 
E) $470,000

Question 3

_____________________ is the amount at which a stock is bought and sold.

Accepted Answer

Market pri

Question 4

Duke Corporation reports the following components of stockholders' equity on December 31,2013:     What is the amount in the Retained Earnings account immediately after the May 25 sale?

Accepted Answer

A) $460,000 
B) $328,500 
C) $444,000 
D) $433,000 
E) $338,500 
A) $460,000 
B) $328,500 
C) $444,000 
D) $433,000 
E) $338,500

Question 5

The _______________________ protects stockholders' proportional interest in a corporation by allowing them to purchase their proportional share of any common stock later issued by the corporation.

Accepted Answer

The answer of The _______________________ protects stockholders' proportional interest in...

Question 6

What is a corporation? Identify the key advantages and disadvantages of corporations.

Accepted Answer

A corporation is a legal entity separate

Question 7

When all of the authorized shares have the same rights and characteristics,the stock is referred to as:

Accepted Answer

A) Preferred shares under both IFRS and GAAP. 
B) Common shares under both IFRS and GAAP. 
C) Plain shares under IFRS and common shares under GAAP. 
D) Simple shares under IFRS and pure shares under GAAP. 
E) Share capital under IFRS and common shares under GAAP. 
A) Preferred shares under both IFRS and GAAP. 
B) Common shares under both IFRS and GAAP. 
C) Plain shares under IFRS and common shares under GAAP. 
D) Simple shares under IFRS and pure shares under GAAP. 
E) Share capital under IFRS and common shares under GAAP.

Question 8

A company's outstanding stock consists of (a) 17,000 shares of noncumulative 7.5% preferred stock with a $10 par value and (b) 42,500 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) $276,000 
C) $214,250 
D) $326,000 
E) $287,750 
A) $177,000 
B) $276,000 
C) $214,250 
D) $326,000 
E) $287,750

Question 9

Prior to June 1,a company has never had any treasury stock transactions.The company repurchased 100 shares of its common stock on June 1 for $5,000.On July 1,it reissued 50 of these shares at $52 per share.On August 1,it reissued the remaining treasury shares at $49 per share.What is the balance in the Contributed Capital,Treasury Stock,account on August 2?

Accepted Answer

A) $5,050 
B) $2,600 
C) $100 
D) $50 
E) $0 
A) $5,050 
B) $2,600 
C) $100 
D) $50 
E) $0

Question 10

Strait Corp.sold 10,000 shares of $1 par value stock for $1 per share.How would the company record this transaction?

Accepted Answer

A) Debit Cash for $10,000 and credit Common Stock,$1 Par Value for $10,000. 
B) Debit Cash for $10,000 and credit Paid-In Capital for $10,000. 
C) Debit Cash for $10,000 and credit Paid-In Capital,Common Stock for $10,000. 
D) Debit Cash for $10,000 and credit Paid-In Capital in Excess of Par Value,Common Stock for $10,000. 
E) Debit Common Stock,$1 Par Value for $10,000 and credit Cash for $10,000. 
A) Debit Cash for $10,000 and credit Common Stock,$1 Par Value for $10,000. 
B) Debit Cash for $10,000 and credit Paid-In Capital for $10,000. 
C) Debit Cash for $10,000 and credit Paid-In Capital,Common Stock for $10,000. 
D) Debit Cash for $10,000 and credit Paid-In Capital in Excess of Par Value,Common Stock for $10,000. 
E) Debit Common Stock,$1 Par Value for $10,000 and credit Cash for $10,000.

Question 11

Victory Corporation issues 17,000 shares of its $2 par value common stock for $152,025 cash on February 20.What is the appropriate journal entry to record this transaction?

Accepted Answer

A)    
B)    
C)    
D)    
E)    
A)    
B)    
C)    
D)    
E)

Question 12

Match between columns
                        Premises: Market value
Cumulative preferred stock
Book value per common share
Premium on stock
Preferred stock
Stated value stock
Financial leverage
Call price
Stockholders' equity
Par value

Accepted Answer

The Answer of The earning of a higher return on is...

Question 13

A corporation began the current year with $250,000 of unappropriated retained earnings.During the current year it earned $120,000 of net (after-tax) income,declared $75,000 of cash dividends,paid $50,000 of the cash dividends and purchased treasury stock costing $40,000.Calculate the current year-end balance in retained earnings.

Accepted Answer

$250,000 +

Question 14

A company's board of directors votes to declare a total cash dividend of $25,000.The company has 2,500 shares of $1 par common stock and 400 shares of 4%,$200 par preferred stock outstanding.What is the total amount that will be paid to preferred shareholders?

Accepted Answer

A) $1,000 
B) $22,500 
C) $400 
D) $3,200 
E) $25,000 
A) $1,000 
B) $22,500 
C) $400 
D) $3,200 
E) $25,000

Question 15

Marble Corporation had the following balances in its stockholders' equity accounts at December 31,2012:
   The following transactions occurred during 2013:
   Based on the above information,prepare a statement of stockholders' equity for 2013.Use the form below.

Accepted Answer

@#IMG-DLM&_TB6947_00

Question 16

A company's stock is selling for $35 per share at year-end.This current year it paid shareholders a $2.45 per share cash dividend,reported earnings per share of $12.00,and had 750,000 common shares outstanding at year-end.Calculate the company's dividend yield.

Accepted Answer

The answer of A company's stock is selling for $35...

Question 17

A company paid $0.75 in cash dividends per share.It has earnings per share of $3.50 and a market price per share of $37.50.Its dividend yield equals:

Accepted Answer

A) 11.7% 
B) 2.0% 
C) 10.9% 
D) 21.4% 
E) 46.7% 
A) 11.7% 
B) 2.0% 
C) 10.9% 
D) 21.4% 
E) 46.7%

Question 18

Strength Inc.sold 10,000 shares of $1 par value stock for $25 per share.How would the company record this transaction?

Accepted Answer

A) Debit Cash for $250,000 and credit Common Stock,$1 Par Value for $250,000. 
B) Debit Cash for $240,000 and credit Common Stock,$1 Par Value for $240,000. 
C) Debit Cash for $250,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $240,000. 
D) Debit Cash for $240,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $230,000. 
E) Debit Cash for $240,000,debit credit Paid-In Capital,Common Stock for $10,000,and credit Common Stock,$1 Par Value for $250,000. 
A) Debit Cash for $250,000 and credit Common Stock,$1 Par Value for $250,000. 
B) Debit Cash for $240,000 and credit Common Stock,$1 Par Value for $240,000. 
C) Debit Cash for $250,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $240,000. 
D) Debit Cash for $240,000,credit Common Stock,$1 Par Value for $10,000,and credit Paid-In Capital,Common Stock for $230,000. 
E) Debit Cash for $240,000,debit credit Paid-In Capital,Common Stock for $10,000,and credit Common Stock,$1 Par Value for $250,000.

Question 19

Duke Corporation reports the following components of stockholders' equity on December 31,2013:   In 2014,the following transactions affected its stockholders' equity accounts.
  What is the journal entry required for the March 3 transaction?

Accepted Answer

A)    
B)    
C)    
D)    
E)    
A)    
B)    
C)    
D)    
E)

Question 20

Stock that was reacquired by the company and is still held by the issuing corporation is called:

Accepted Answer

A) Capital stock 
B) Treasury stock 
C) Redeemed stock 
D) Preferred stock 
E) Callable stock 
A) Capital stock 
B) Treasury stock 
C) Redeemed stock 
D) Preferred stock 
E) Callable stock

A stock option is also called a stock dividend.

Duke Corporation reports the following components of stockholders' equity on December 31,2013: What is the amount in the Retained Earnings account immediately after the dividend on July 15?

_____________________ is the amount at which a stock is bought and sold.

Duke Corporation reports the following components of stockholders' equity on December 31,2013: What is the amount in the Retained Earnings account immediately after the May 25 sale?

The _______________________ protects stockholders' proportional interest in a corporation by allowing them to purchase their proportional share of any common stock later issued by the corporation.

What is a corporation? Identify the key advantages and disadvantages of corporations.

When all of the authorized shares have the same rights and characteristics,the stock is referred to as:

Strait Corp.sold 10,000 shares of $1 par value stock for $1 per share.How would the company record this transaction?

Victory Corporation issues 17,000 shares of its $2 par value common stock for $152,025 cash on February 20.What is the appropriate journal entry to record this transaction?

A company's board of directors votes to declare a total cash dividend of $25,000.The company has 2,500 shares of $1 par common stock and 400 shares of 4%,$200 par preferred stock outstanding.What is the total amount that will be paid to preferred shareholders?

Marble Corporation had the following balances in its stockholders' equity accounts at December 31,2012: The following transactions occurred during 2013: Based on the above information,prepare a statement of stockholders' equity for 2013.Use the form below.

A company's stock is selling for $35 per share at year-end.This current year it paid shareholders a $2.45 per share cash dividend,reported earnings per share of $12.00,and had 750,000 common shares outstanding at year-end.Calculate the company's dividend yield.

A company paid $0.75 in cash dividends per share.It has earnings per share of $3.50 and a market price per share of $37.50.Its dividend yield equals:

Strength Inc.sold 10,000 shares of $1 par value stock for $25 per share.How would the company record this transaction?

Duke Corporation reports the following components of stockholders' equity on December 31,2013: In 2014,the following transactions affected its stockholders' equity accounts. What is the journal entry required for the March 3 transaction?

Stock that was reacquired by the company and is still held by the issuing corporation is called:

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

A stock option is also called a stock dividend.

Duke Corporation reports the following components of stockholders' equity on December 31,2013: What is the amount in the Retained Earnings account immediately after the dividend on July 15?

_____________________ is the amount at which a stock is bought and sold.

Duke Corporation reports the following components of stockholders' equity on December 31,2013: What is the amount in the Retained Earnings account immediately after the May 25 sale?

The _______________________ protects stockholders' proportional interest in a corporation by allowing them to purchase their proportional share of any common stock later issued by the corporation.

What is a corporation? Identify the key advantages and disadvantages of corporations.

When all of the authorized shares have the same rights and characteristics,the stock is referred to as:

Strait Corp.sold 10,000 shares of $1 par value stock for $1 per share.How would the company record this transaction?

Victory Corporation issues 17,000 shares of its $2 par value common stock for $152,025 cash on February 20.What is the appropriate journal entry to record this transaction?

A company's board of directors votes to declare a total cash dividend of $25,000.The company has 2,500 shares of $1 par common stock and 400 shares of 4%,$200 par preferred stock outstanding.What is the total amount that will be paid to preferred shareholders?

Marble Corporation had the following balances in its stockholders' equity accounts at December 31,2012: The following transactions occurred during 2013: Based on the above information,prepare a statement of stockholders' equity for 2013.Use the form below.

A company's stock is selling for $35 per share at year-end.This current year it paid shareholders a $2.45 per share cash dividend,reported earnings per share of $12.00,and had 750,000 common shares outstanding at year-end.Calculate the company's dividend yield.

A company paid $0.75 in cash dividends per share.It has earnings per share of $3.50 and a market price per share of $37.50.Its dividend yield equals:

Strength Inc.sold 10,000 shares of $1 par value stock for $25 per share.How would the company record this transaction?

Duke Corporation reports the following components of stockholders' equity on December 31,2013: In 2014,the following transactions affected its stockholders' equity accounts. What is the journal entry required for the March 3 transaction?

Stock that was reacquired by the company and is still held by the issuing corporation is called:

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