Can someone help me out on these please? Thank you

Intermediate Accounting II Examination Chap 15 1. If stock is issued in exchange for a piece of equipment, then the equipment should be recorded on the books at: a) the fair market value of the stock issued. b) the par value of the stock issued. c) the appraisal value of the equipment. d) the original cost of the equipment. 16 2. Which of the following is not a reason why corporations purchase their outstanding stock a) To increase stockholders' equity. b) To thwart takeover attempts. c) To provide tax efficient distributions of excess cash to shareholders. d) To make a market in the stocka ge 3. Treasury stock is reflected on the financial statements as: a) an asset. b) a contra-liability. c) a decrease to stockholder's equity. d) an increase to net income. 32 4. Which of the following is not a possible feature of preferred stock a) Cumulative b) Contingent c) Convertible d) Callable b) Contingent c) Convertible d) Callable 5. In which of the following dividends is it proper to record a gain or a loss a) A liquidating dividend. b) A stock dividend. c) A property dividend. d) It is never proper to records gain or loss resulting from a dividend 56 6. Retained earnings is reduced for both small and large stock dividends by the number of 57 shares issued multiplied by what amount per share: a) b) Small Par value Par value FMV FMV Large Par value FMV Par value FMV Which of the following is correct regarding a stock split a) Common stock is credited for the new shares issued times the new par value b) Common stock is credited for the new shares issued times the original par value. c) Common stock is credited for the new shares issued times fair market value d) There is no journal entry for a stock split Chap 15 Ready Type here to search o Big