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here are my questions for you to help me with, thanks Question 1.1. Retained earnings (Points : 1) is unique to the corporate form of

here are my questions for you to help me with, thanks

image text in transcribed Question 1.1. Retained earnings (Points : 1) is unique to the corporate form of business. is an optional account in the partnership form of business. reflects cash paid in by stockholders to date. is closed at the end of the year. Question 2.2. Outstanding stock of the Larson Corporation included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par noncumulative preferred stock. In 2013, Larson declared and paid dividends of $4,000. In 2014, Larson declared and paid dividends of $12,000. How much of the 2014 dividend was distributed to preferred shareholders? (Points : 1) $6,000 $7,000 $5,000 $3,000 Question 3.3. Somento Forest Inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock? (Points : 1) $60 per share $60,000 in total $100,000 in total $0.60 per share Question 4.4. Jackson Company is a publicly held corporation whose $1 par value stock is actively traded at $64 per share. The company issued 3,000 shares of stock to acquire land recently advertised at $200,000. When recording this transaction, Barton Company will (Points : 1) debit Land for $200,000. credit Common Stock for $192,000. debit Land for $192,000. credit Paid-In Capital in Excess of Par for $196,000. Question 5.5. Paid-In Capital in Excess of Stated Value (Points : 1) is credited when no-par stock does not have a stated value. is reported as part of paid-in capital on the balance sheet. represents the amount of legal capital. normally has a debit balance. Question 6.6. A stockholder who receives a stock dividend would (Points : 1) expect the market price per share to increase. own more shares of stock. expect retained earnings to increase. expect the par value of the stock to change. Question 7.7. East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a (Points : 1) credit to Common Stock for $120,000. credit to Common Stock for $125,000. credit to Paid-in Capital in Excess of Par for $125,000. debit to Cash for $120,000. Question 8.8. If no-par stock is issued without a stated value, then (Points : 1) the par value is automatically $1 per share. the entire proceeds are considered to be legal capital. there is no legal capital. the corporation is automatically in violation of its state charter. Question 9.9. Corporations generally issue stock dividends in order to (Points : 1) increase the market price per share. exceed stockholders' dividend expectations. increase the marketability of the stock. decrease the amount of capital in the corporation. Question 10.10. Solaris, Inc. has 2,000 shares of 5%, $10 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock? (Points : 1) $5 per share $1,000 in total $10,000 in total $.05 per share Question 11.11. The following data is available for Santos Service Corporation at December 31, 2014: Common stock, par $10 (authorized 100,000 shares) = $400,000 Treasury Stock (at cost $15 per share) = $ 27,000 Based on the data, how many shares of common stock have been issued? (Points : 1) 50,000 40,000 49,880 38,200 Question 12.12. Sunshine Company issued 4,000 shares of its $5 par value common stock in payment of its attorney's bill of $80,000. The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting (Points : 1) Legal Expense for $20,000. Legal Expense for $80,000. Organization Expense for $20,000. Organization Expense for $80,000. Question 13.13. Art, Inc., has 2,500 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding from December 31, 2013 through Dec. 31, 2015. There were no dividends declared in 2013. The board of directors declares and pays a $22,500 dividend in 2014 and in 2015. What is the amount of dividends received by the common stockholders in 2015? (Points : 1) $7,500 $12,500 $22,500 $0 Question 14.14. Laser Inc., has 1,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2014, and December 31, 2013. The board of directors declared and paid a $2,500 dividend in 2013. In 2014, $12,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2014? (Points : 1) $8,500 $6,000 $3,500 $3,000 Question 15.15. Eggers Inc. has retained earnings of $1,600,000 and total stockholders' equity of $4,000,000. It has 400,000 shares of $5 par value common stock outstanding, which is currently selling for $30 per share. If Eggers declares a 10% stock dividend on its common stock: (Points : 1) net income will decrease by $200,000. retained earnings will decrease by $200,000 and total stockholders' equity will increase by $200,000. retained earnings will decrease by $1,200,000 and total stockholders' equity will increase by $1,200,000. retained earnings will decrease by $1,200,000 and total paid-in capital will increase by $1,200,000. Question 16.16. The declaration of a stock dividend will (Points : 1) increase paid-in capital. change the total of stockholders' equity. increase total liabilities. increase total assets. Question 17.17. A separate paid-in capital account is used to record each of the following except the issuance of (Points : 1) no-par stock. par value stock. stated value stock. treasury stock above cost. Question 18.18. Kagan Corporation was organized on January 2, 2014. During 2014, Kagan issued 40,000 shares at $24 per share, purchased 6,000 shares of treasury stock at $26 per share, and had net income of $600,000. What is the total amount of stockholders equity at December 31, 2014? (Points : 1) $1,280,000 $1,404,000 $1,416,000 $1,440,000 Question 19.19. Outstanding stock of the Crevusse Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par noncumulative preferred stock. In 2013, Crevusse declared and paid dividends of $8,000. In 2014, Crevusse declared and paid dividends of $24,000. How much of the 2014 dividend was distributed to preferred shareholders? (Points : 1) $14,000 $8,000 $10,000 $5,000 Question 20.20. If a corporation declares a dividend based upon paid-in capital, it is known as a (Points : 1) scrip dividend. property dividend. paid dividend. liquidating dividend

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