1. Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are made to

a.Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000

b.Common Stock, $15,000, and Paid-In Capital in Excess of ParCommon Stock, $7,000

c.Common Stock, $22,000

2. Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1	$10,000
Year 2	45,000
Year 3	90,000

3. Determine the dividends per share for preferred and common stock for the second year.

a.$0 and $0.45

b.$2.25 and $0

c.$2.25 and $0.45

d.$2.00 and $0.45

4. Sneed Corporation issues 10,000 shares of $50 par preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to

a.Preferred Stock for $500,000 and Paid-In Capital in Excess of ParPreferred Stock for $250,000

b.Preferred Stock for $750,000

c.Preferred Stock for $500,000 and Retained Earnings for $250,000

d.Paid-In Capital from Preferred Stock for $750,000

d.Common Stock, $22,000, and Retained Earnings, $15,000

5. The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared?

a.$80,000

b.$90,000

c.$100,00

d.$10,000

6. What is the total stockholders' equity based on the following account balances?

Common Stock	$375,000
Paid-In Capital in Excess of Par	90,000
Retained Earnings	190,000
Treasury Stock	15,000

a.$655,000

b.$670,000

c.$565,000

d.$640,000