1) Berman Inc. has 1,000 shares of 8%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2014 and December 31, 2015. The board of directors declared and paid a $3,000 dividend in 2014. In 2015, $12,000 of dividends are declared and paid. What are the dividend received by the common stockholders in 2015?

	$7,000
	$4,000
	$5,000
	$6,000

2) Nance Corporation's December 31, 201X balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 10,000 shares authorized; 5,000 shares issued......$100,000 Common stock, $10 par value, 1,000,000 shares authorized; 650,000 shares issued, 640,000 shares outstanding.....................................................$6,500,000 Paid-in Capital in excess of par value-- .... Preferred stock.................................................20,000 Paid-in Capital in excess of par value-- .....Common Stock............................................9,000,000 Retained Earnings.............................................2,550,000 Treasury stock (10,000 shares).............................210,000 Nance declared and paid a $25,000 cash dividend on December 15, 201X. If the company's dividends in arrears prior to that date were $6,000, Nance's common stockholders received

	$9,000
	$11,000
	no dividend
	$19,000

3) Brewer Inc. has 2,000 shares of 8%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2015, and December 31, 2014. The board of directors declared and paid a $6,000 dividend in 2014. In 2015, $24,000 of dividend are declared and paid. What are the dividends received by the preferred stockholders in 2015?

	$10,000
	$14,000
	$8,000
	$12,000

4) The Logan Corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share. In the stockholders' equity section, the effects of the transaction will be reported

	under both the capital stock and additional paid-in capital sections
	entirely within the capital stock section
	entirely within the additional paid-in capital section
	entirely under the retained earnings section

5) Machine Shoppe started the year with stockholder's equity including common stock of $10,000 and retained earnings of $5,000. During the year the business recorded $105,000 in revenues, $55,000 in expenses, and dividends of $10,000. Assuming no change in common stock, what is the stockholder's equity at the end of the year?

	$55,000
	$15,000
	$50,000
	$60,000

6) Which of the following would be considered reporting separately as an