1. What is the total stockholders' equity based on the following data?

Common Stock	$861,200
Excess of Issue Price Over Par	$249,500
Retained Earnings (deficit)	$58,510

Select the correct answer.

$1,052,190

$1,110,700

$553,190

$1,169,210

2. If Larger Company issues 2,100 shares of $10 par value common stock for $44,100, determine the result of the transaction on the accounts.

Select the correct answer.

Paid-in Capital in excess of Par Value will be credited for $21,000.

Cash will be debited for $21,000.

Paid-in Capital in excess of Par Value will be credited for $23,100.

Common Stock will be credited for $44,100.

3.

A corporation, which had 32,000 shares of common stock outstanding, declared a 3-for-1 stock split.

(a) What will be the number of shares outstanding after the split? shares

(b) If the common stock had a market price of $129 per share before the stock split, what would be an approximate market price per share after the split? $ per share

(c) Is a journal entry required for a stock split? - Select your answer - YesNo

3.

Sanchez Company has 47,000 shares of 2% preferred stock of $100 par and 92,000 shares of $50 par common stock. The following amounts were distributed as dividends:

Year 1	$493,000
Year 2	$427,000
Year 3	$514,000

Determine the dividends per share for preferred and common stock for each year. Round the dividends per share to the nearest cent.

		Year 1	Year 2	Year 3
Amount distributed		$	$	$
Preferred dividend		$	$	$
Common dividend		$	$	$
Dividends per share:
	Preferred stock	$	$	$
	Common stock	$	$	$