Abbey Easterwood: Attempt 1 Question 11 (1 point) A company has a Net Income of $264,000 during the current year. The company has 90,000 shares of 6%, $10 par Cumulative Preferred Stock outstanding. In addition the company has 160,000 weighted average shares of Common Stock outstanding during the current year. The Board of Directors did not declare any dividends during the current year. Determine the Earnings per share. $1.65 $1.99 $1.55 $1.31 When a corporation issues shares of stock, the total amount of cash and other assets it receives in exchange of the stock: always equals the Par Value is referred to as Paid- In Capital cannot exceed the Par Value O is referred to as the Stated Value od Question 15 (1 point) A company issued 120,000 shares of its $3 par value common stock in exchange of Land valued at $190,000 and Building valued at $260,000. The journal entry to record this transaction would include a: credit to Common Stock for $450,000 credit to Common Stock for $360,000 O credit to Paid-in Capital in excess of Par- Common Stock for $450,000 debit to Land and Building for $360,000 Question 17 (1 point) A company's stockholder's equity consists of $10 par Common Stock, 40,000 shares authorized, 24,000 shares issued and 2,400 shares held in Treasury. The company declares a 15% stock dividend at a time when the market price of the share of stock is $24. The amount debited to Retained Earnings as a result of this Stock Dividend is: $32,400 $36,000 $77,760 $86,400