22. Nolle should recognite a gain or loss on the tranither of the equipment of a. 50 b. $120,000 gain c. $160,000 gain. d. $570,000 loss. 23. Nolte should recognite a gain on the partial cottlement and restructure of the debt of a. 50 b. 45,000 c. $165,000 d. $225,000 24. The pre-emptive right of a common stockholder is the right to a. share proportionately in corporate assets upon liquidation. b. share proportionately in any new issues of stock of the same ciass. c. recelve cash dividends belore they are distributod to preferred stockhoiders. d. exclude preferred stookholders from voting rights. 25. Which dividends do not reduce stockhoiders' equify? a. Cash dividends b. Stock dividends c. Property dividends d. Liquidating dividends 26. What effect does the issuance of a 2-for-1 stock split have on each of the folewing? Rar Value oec Shate Rotained Eaminas a. No effect No effect b. Increese No elfect c. Decrease No effect d. Decrease Decrease 27. Manning Company issued 10,000 shares of its $5 par value common stock having a fair value of $25 per share and 15,000 shares of its $15 par value preferred stock having a fair vilue of $20 per share for a lump sum of $630,000. How much of the proceeds would be allocated to the common stock? a. $250,000 b. $240,900 c. $300,000 22. Nolle should recognite a gain or loss on the tranither of the equipment of a. 50 b. $120,000 gain c. $160,000 gain. d. $570,000 loss. 23. Nolte should recognite a gain on the partial cottlement and restructure of the debt of a. 50 b. 45,000 c. $165,000 d. $225,000 24. The pre-emptive right of a common stockholder is the right to a. share proportionately in corporate assets upon liquidation. b. share proportionately in any new issues of stock of the same ciass. c. recelve cash dividends belore they are distributod to preferred stockhoiders. d. exclude preferred stookholders from voting rights. 25. Which dividends do not reduce stockhoiders' equify? a. Cash dividends b. Stock dividends c. Property dividends d. Liquidating dividends 26. What effect does the issuance of a 2-for-1 stock split have on each of the folewing? Rar Value oec Shate Rotained Eaminas a. No effect No effect b. Increese No elfect c. Decrease No effect d. Decrease Decrease 27. Manning Company issued 10,000 shares of its $5 par value common stock having a fair value of $25 per share and 15,000 shares of its $15 par value preferred stock having a fair vilue of $20 per share for a lump sum of $630,000. How much of the proceeds would be allocated to the common stock? a. $250,000 b. $240,900 c. $300,000
