1. A company issued 90 shares of $100 par value stock for $16,000 cash. The total amount of contributed capital is:

A) $100

B) $900

C) $7,000

D) $15,000

E) $16,000

2. A company's board of directors votes to declare a total cash dividend of $55,000. The company has 5,500 shares of $1 par common stock and 880 shares of 4%, $200 par preferred stock outstanding. What is the total amount that will be paid to preferred shareholders?

A) $1,000

B) $55,000

C) $880

D) $7,040

E) 49,500

3. A company has a market value per share of $ 40.60. Its net income is $ 3,080,000 and the weighted-average number of shares outstanding is 440,000. The company's price-earnings ratio is equal to:

A) 15.2

B) 2.90

C) 5.8

D) 14.29

E) 17.24

4. A company has 3,750 shares of $1 par value common stock and 340 shares of 5%, $ 130 par, noncumulative preferred stock outstanding. The balance in Retained Earnings at the beginning of the year was $ 775,000. Net income for the current year was $ 465,000. If the company paid a dividend of $ 1 per share on its common stock, what is the balance in Retained Earnings at the end of the year?

A) $ 1,240,000

B) $ 1,245,960

C) $ 1,234,040

D) $ 769,040

E) $ 304,040

5. Prior to June 1, a company has never had any treasury stock transactions. The company repurchased 210 shares of its common stock on June 1 for $10,500. On July 1, it reissued 105 of these shares at $53 per share. On August 1, it reissued the remaining treasury shares at $48 per share. What is the balance in the Contributed Capital, Treasury Stock, account on August 2?

A) $10,550

B) $5,565

C) $210

D) $105

E) $0

6. A company has 1,500 shares of $50 par value, 4.00% cumulative and nonparticipating preferred stock and 15,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $1,500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

A) $1,500

B) $1,500

C) $3,000

D) $4,500

E) $6,000

7.)

The following data has been collected about a company's stockholders' equity accounts:

Common stock $10 par value 20,000 shares authorized and 16,000 shares issued	$160,000
Contribution capital in excess of par value,common stock Retained earnings	80,000 40,000
Treasury stock,1,600 shares	20,800

The treasury shares were all purchased at the same price. The cost per share of the treasury stock is:

A) $1.30

B) $1.44

C) $13.00

D) $12.00

E) $10

8. A company has 4,600 shares of $100 par preferred stock. It also has 60,000 shares of common stock outstanding and its total stockholders' equity equals $2,080,000. The book value per common share is:

A) $26.38

B) $27

C) $33.90

D) $34.67

E) $100