1. n June 15, 2008, Jefferson Adams, Inc. had 15,000 shares of$5 par value common stock issued and outstanding. These shares of common stock had originally been issued for $12/share. The company had never repurchased or reissued any of the issued an

A. Additional Paid in Capital - Treasury Stock will have a $2,000 balance.

B. Additional Paid in Capital - Common Stock will have a balance of $105,000.

C. Treasury Stock will have a balance of $41,000.

D. There were 15,000 shares of $5 par value common stock issued and outstanding.

E. There is a balance of $75,000 in the Common Stock account.

2. At the beginning of the year, the Lincoln Logging Company had 10,000 shares of $1 par value common stock outstanding. During the year, it engaged in the following transactions related to its common stock, so that at year end, it had 32,600 shares outstanding: UOG Courses-Examination March 30Issued 2,300 shares of common stock June 1 - Repurchased 3,100 shares of common stock October 31 - Issued a 3 for 1 stock split, reducing the par value to $0.33/share December 1 - Issued 5,000 shares of common stock Compute the Lincoln Logging Company's weighted average common shares outstanding?

3.The Roosevelt Car Company has determined that it will pay a total cash dividend of $80,000. Roosevelt has 1,000 shares of 5%, $100 par, cumulative, non-participating preferred stock with two years of dividends in arrears, currently selling for $131/share, and 20,000 shares of no-par, no stated value common stock issued and outstanding, currently selling for $15/share. How much cash dividend will be paid on each share of common stock?

4.The Coolidge Brewing Company has stockholder's equity as follows: Common Stock, $10 par $100,000 Additional Paid in Capital-Common Stock $230,000 Retained Earnings $316,450 Total Stockholders Equity $646,450 The company is considering issuing an 8% stock dividend. The current market price of the companys stock is $46/share. If this dividend is declared and issued, which of the following statements is NOT true?

A. Contributed capital will be increased by $8,000.

B. Retained earnings will be reduced by $36,800.

C. Common stock will be increased by $8,000.

D. Additional Paid in Capital from Stock Dividends will be increased by $28,800.

E. 800 additional shares of common stock will be issued.

5. The following information pertains to the Garfield Company. The company had net income of $150,000. The company had income from continuing operations of $135,000 and income from extraordinary items of $15,000. The company had 20,000 weighted average common shares outstanding during the year. The company had 10,000 shares of 8%, $20 par, cumulative preferred stock outstanding during the year, but no dividends were declared during the year. UOG Courses-Examination The company MUST report:

A. Basic EPS for Net Income of $7 .50, Income from Continuing Operations of $6.75, and Income from Extraordinary Items of $0.75

B. Basic EPS for Net Income of $6. 70, Income from Continuing Operations of $6. 75, and Income from Extraordinary Items of ($0.05)

C. Basic EPS for Net Income of $6. 70, Income from Continuing Operations of $5.95, and Income from Extraordinary Items of $0.75

D. Basic EPS for Net Income of $7 .50, Income from Continuing Operations of $5.95, and Income from Extraordinary Items of ($0.05)

E. Basic EPS for Net Income of $6. 70, Income from Continuing Operations of $5.95, and Income from Extraordinary Items of ($0.05)