A. A company has 100,000 shares of 6%, $100 p/v preferred stocks outstanding. Determine the following:

a. Dividend per share of preferred stock:

b. Total annual dividend for all shares of preferred stock:

B. Vegas Corporation has 400,000 shares of $10.00 par value common stock outstanding on Jan.1 when the board of directors a 4:1 stock split. Determine the following (show all work):

The new par value:

Total number of shares after the split:

C. For each of the following items that can be found in the retained earnings statement, determine if the item would be shown as an additions (A) or deductions (D) in a Retained Earnings Statement.

Item	Addition	Deduction
Net Income
Net Loss
Cash Dividends
Stock Dividends
Prior period adjustments to correct for overstatement of prior years net income
Prior period adjustments to correct for understatement of prior years net income

D. The following selected amounts are available for Vizio Company.

Retained earnings (beginning) $1,600

Net loss 300

Cash dividends declared 200

Stock dividends declared 200

What is its ending retained earnings balance?

a. $1,300

b. $1,400

c. $900

d. $1,200

E. Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was

a. 2-for-5.

b. 5-for-1.

c. 1-for-5.

d. 3-for-1.

F. A prior period adjustment that corrects income of a prior period requires that an entry be made to

a. an income statement account.

b. a current year revenue or expense account.

c. the retained earnings account.

d. an asset account.

G. Nola, Inc. declares a 10% common stock dividend when it has 60,000 shares of $10 par value common stock outstanding. If the market value of $24 per share is used, the amounts debited to Stock Dividends and credited to Paid-in Capital in Excess of Par are:

Paid-in Capital in

Stock Dividends Excess of Par

a. $60,000 $0

b. $144,000 $84,000

c. $144,000 $60,000

d. $60,000 $84,000

H. Sebold Manufacturing declared a 10% stock dividend when it had 700,000 shares of $3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to

a. Stock Dividends for $210,000.

b. Paid-in Capital in Excess of Par for $630,000.

c. Common Stock for $210,000.

d. Common Stock Dividends Distributable for $840,000.