Question
A corporation issued 20,000 shares of $5 par value 6% preferred stock, and 10,000 shares of $10 par value common stock, when the corporation was
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A corporation issued 20,000 shares of $5 par value 6% preferred stock, and 10,000 shares of $10 par value common stock, when the corporation was formed two years ago. No dividend was declared or paid last year. This year the corporation has $50,000 available for dividends. How much should each share of common stock receive?
$3.80 | ||
$2.80 | ||
$4.40 | ||
zero |
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The statement of cash flows helps address questions such as
How is the increase in investments financed? | ||
How much cash is generated from or used by operations? | ||
What is the source of cash for new plant assets? | ||
All the other choices given |
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Closing underapplied overhead to cost of goods sold would cause net income to:
increase | ||
remain the same | ||
cannot be determined based on the information given | ||
decrease |
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The appropriate section in the Statement of Cash Flows for reporting the sale of equipment at book value for cash is
Investing activities | ||
None of the other choices. This is not reported in the Statement of Cash Flows. | ||
Financing activities | ||
Operating activities |
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A manufacturing company has a beginning finished goods inventory of $14,600, beginning work in process inventory of $18,700, cost of goods manufactured of $32,500, ending work in process inventory of $15,200, and an ending finished goods inventory of $17,800. Cost of goods sold for this company is:
$48,100
$29,300
$12,300
$30,300
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