1/ Cox, North, and Lee form a partnership. Cox contributes $204,000, North contributes $170,000, and Lee contributes $306,000. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $183,000 for its first year, what amount of income is credited to Cox's capital account? (Do not round your intermediate calculations.)

Multiple Choice

$54,900.

$62,400.

$45,750.

$61,000.

$82,350.

2/ A company paid $0.68 in cash dividends per share. Its earnings per share is $4.40 and its market price per share is $27.50. Its dividend yield equals:

Multiple Choice

2.47%.

6.47%.

16.00%.

4.04%.

15.45%.

3/ A corporation issued 6,800 shares of $10 par value common stock in exchange for some land with a market value of $106,000. The entry to record this exchange is:

Multiple Choice

Debit Land $106,000; credit Common Stock $68,000; credit Paid-In Capital in Excess of Par Value, Common Stock $38,000.

Debit Land $106,000; credit Common Stock $106,000.

Debit Land $68,000; credit Common Stock $68,000.

Debit Common Stock $68,000; debit Paid-In Capital in Excess of Par Value, Common Stock $38,000; credit Land $106,000.

Debit Common Stock $106,000; credit Land $106,000.