Question Content Area Nexis Corp issues 2,610 shares of $10 par value common stock at $18 per share When the transaction is recorded, what credit entry or entries are made a Common Stock $46,980 b Common Stock $26,100 and Paid in Capital in Excess of Par Value $20,880 c Common Stock $20,880 and Retained Earnings $26,100 d Common Stock $26,100 and Paid in Capital in Excess of Stated Value $20,880 Question Content Area When Wisconsin Corporation was formed on January 1, the corporate charter provided for 116,300 shares of $8 par value common stock The following transaction was among those engaged in by the corporation during its first month of operation The corporation issued 7,150 shares of stock at a price of $20 per share The entry to record the above transaction would include a a credit to Common Stock for $143,000 b debit to Common Stock for $116,300 c debit to Cash for $57,200 d credit to Paid in Capital in Excess of Par for $85,800 Question Content Area The charter of a corporation provides for the issuance of 111,881 shares of common stock Assume that 41,500 shares were originally issued and 4,944 were subsequently reacquired What is the amount of cash dividends to be paid if a $2 per share dividend is declared a $4,944 b $73,112 c $41,500 d $111,881 Question Content Area The charter of a corporation provides for the issuance of 119,511 shares of common stock Assume that 36,019 shares were originally issued and 4,806 were subsequently reacquired What is the amount of cash dividends to be paid if a $1 per share dividend is declared a $31,213 b $36,019 c $4,806 d $119,511 Question Content Area Texas Inc has 4,649 shares of 5 , $100 par value cumulative preferred stock and 97,197 shares of $1 par value common stock outstanding at December 31 What is the annual dividend on the preferred stock a $4,860 in total b $50 00 per share c $23,245 in total d $4,649 in total Question Content Area A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8 Subsequently, the company declared a 2 stock dividend on a date when the market price was $11 a share What is the amount transferred from the retained earnings account to paid in capital accounts as a result of the stock dividend a $3,200 b $4,800 c $8,800 d $6,400 Question Content Area On January 1, Vermont Corporation had 38,900 shares of $11 par value common stock issued and outstanding All 38,900 shares had been issued in a prior period at $19 per share On February 1, Vermont purchased 1,100 shares of treasury stock for $29 per share and later sold the treasury shares for $22 per share on March 1 The journal entry to record the purchase of the treasury shares on February 1 would include a debit to a loss account for $11,000 credit to a gain account for $11,000 debit to Treasury Stock for $31,900 credit to Treasury Stock for $31,900 Question Content Area Treasury stock that was purchased for $2,522 is sold for $3,753 As a result of these two transactions combined a income will be increased by $1,231 b stockholders' equity will not change c stockholders' equity will be increased by $1,231 d stockholders' equity will be increased by $3,753

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Question Content Area Nexis Corp. issues 2,610 shares of $10 par value common stock at $18 per share. When the transaction is recorded, what credit

Question Content Area

Nexis Corp. issues 2,610 shares of $10 par value common stock at $18 per share. When the transaction is recorded, what credit entry or entries are made?

a.Common Stock $46,980.

b.Common Stock $26,100 and Paid-in Capital in Excess of Par Value $20,880.

c.Common Stock $20,880 and Retained Earnings $26,100.

d.Common Stock $26,100 and Paid-in Capital in Excess of Stated Value $20,880.
Question Content Area

When Wisconsin Corporation was formed on January 1, the corporate charter provided for 116,300 shares of $8 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 7,150 shares of stock at a price of $20 per share.

The entry to record the above transaction would include a

a.credit to Common Stock for $143,000

b.debit to Common Stock for $116,300

c.debit to Cash for $57,200

d.credit to Paid-in Capital in Excess of Par for $85,800
Question Content Area

The charter of a corporation provides for the issuance of 111,881 shares of common stock. Assume that 41,500 shares were originally issued and 4,944 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared?

a.$4,944

b.$73,112

c.$41,500

d.$111,881
Question Content Area

The charter of a corporation provides for the issuance of 119,511 shares of common stock. Assume that 36,019 shares were originally issued and 4,806 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared?

a.$31,213

b.$36,019

c.$4,806

d.$119,511
Question Content Area

Texas Inc. has 4,649 shares of 5%, $100 par value cumulative preferred stock and 97,197 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?

a.$4,860 in total

b.$50.00 per share

c.$23,245 in total

d.$4,649 in total
Question Content Area

A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a.$3,200

b.$4,800

c.$8,800

d.$6,400
Question Content Area

On January 1, Vermont Corporation had 38,900 shares of $11 par value common stock issued and outstanding. All 38,900 shares had been issued in a prior period at $19 per share. On February 1, Vermont purchased 1,100 shares of treasury stock for $29 per share and later sold the treasury shares for $22 per share on March 1.

The journal entry to record the purchase of the treasury shares on February 1 would include a

debit to a loss account for $11,000.

credit to a gain account for $11,000.

debit to Treasury Stock for $31,900.

credit to Treasury Stock for $31,900.
Question Content Area

Treasury stock that was purchased for $2,522 is sold for $3,753. As a result of these two transactions combined

a.income will be increased by $1,231.

b.stockholders' equity will not change.

c.stockholders' equity will be increased by $1,231.

d.stockholders' equity will be increased by $3,753.