The number of shares remaining in the hands of shareholders after some stock has been reacquired is referred to as the shares

a.outstanding.

b.in arrears.

c.issued.

d.authorized.

The journal entry to issue 1,000,000 shares of $5 par common stock for $9 per share on July 2 would be

a.

July 2	Cash	9,000,000
	Common Stock		5,000,000
	Paid-In Capital in Excess of Par		4,000,000

b.

July 2	Cash	5,000,000
	Paid-In Capital in Excess of ParC/S	4,000,000
	Common Stock		9,000,000

c.

July 2	Cash	5,000,000
	Common Stock		5,000,000

d.

July 2	Cash	9,000,000
	Common Stock		9,000,000

When a cash dividend is declared, which of the following accounts is credited?

a.Common Stock

b.Cash Dividends Payable

c.Paid-In Capital

d.Cash Dividends

Cash dividends are paid on __________ stock.

a.outstanding

b.authorized

c.issued

d.treasury

All of the following are conditions for a cash dividend except

a.sufficient cash.

b.sufficient retained earnings.

c.formal action by the board of directors.

d.All of these choices are correct.