1. The Balance sheet of ACCT 121 Incorporated has the following information Common Stock $2 Par Value $30,000 Paid in Capital Excess of Par - Common Stock $20,000 Treasury Stock (1,000 Shares at Cost) $5,000 Retained Earnings $5,000. How Many Shares of Common Stock have been issued?

2. The Balance sheet of ACCT 121 Incorporated has the following information. Common Stock $2 Par Value $30,000 Paid in Capital Excess of Par - Common Stock $20,000 Treasury Stock (1,000 Shares at Cost) $5,000 Retained Earnings $5000. How Many Shares are Outstanding?

3. The Balance Sheet of ACCT 121 Incorporated has the following information: Common Stock $2 Par Value $30,000 Paid in Capital Excess of Par - Common Stock $20,000 Treasury Stock (1,000 Shares at Cost) $5,000 Retained Earnings $5000. What is the Total Stockholder's Equity?

4. The Balance sheet of ACCT 121 Incorporated has the following information: Common Stock $2 Par Value $30,000 Paid in Capital Excess of Par - Common Stock $20,000 Treasury Stock (1,000 Shares at Cost) $5,000 Retained Earnings $5,000. ACCT 121's board of directors authorizes a 2 for 1 stock split when the Market Price per share is $5. How will this event affect stockholders's equity?

Select one:

a.

Retained Earnings will decrease by $3,750

b.

Common Stock will increase to $60,000

c.

Net Income will Increase by $30,000

d.

There will be no effect on total stockholder equity.

5. The Balance sheet of ACCT 121 Incorporated has the following information: Common Stock $2 Par Value $30,000 Paid in Capital Excess of Par - Common Stock $20,000 Treasury Stock (1,000 Shares at Cost) $5,000 Retained Earnings $5,000. ACCT 121's board of directors authorizes a 5% Stock Dividend when the Market Price per share is $5. Which of the following is true?

Select one:

a.

Common Stock will increase by $1500

b.

Nothing needs to be recorded

c.

Retained Earnings will decrease by $3750

d.

Treasury Stock will decrease by $3,750