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Exam 13: Corporations: Organization, stock Transactions, and Dividends

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Question 101

Multiple Choice

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When a corporation completes a 3-for-1 stock split,

A) the ownership interest of current stockholders is decreased
B) the market price per share of the stock is decreased
C) the par value per share is decreased
D) the market price per share of the stock and the par value per share are decreased

E) None of the above
F) A) and B)

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Question 102

Multiple Choice

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Match each of the following stockholders' equity concepts to the most appropriate term (a-h) . -The dollar amount assigned to each share of stock

A) Authorized shares
B) Issued shares
C) Outstanding shares
D) Par value
E) Common stock
F) Preferred stock
G) Paid-In Capital in Excess of Par
H) Transfer agent

I) C) and F)
J) None of the above

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Question 103

True/False

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The cost of treasury stock is deducted from total paid-in capital and retained earnings in determining total stockholders' equity.

Par value

A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%,$100 par,cumulative preferred stock and 50,000 shares of $10 par common stock.The amounts distributed as dividends are presented below.Determine the total and per-share dividends for each class of stock for each year by completing the schedule.

All of the following are normally found in a corporation's Stockholders' equity section except

Torre Company has the following stockholders' equity account balances in stockholders' equity on December 31.​​

Which of the following amounts should be disclosed in the Stockholders' equity section of the balance sheet?

Paid-in capital may originate from real estate transactions.

For accounting purposes,stated value is treated the same way as par value.

Match each of the following stockholders' equity concepts to the appropriate term (a-h) . -The date that is used to determine the owners of stock who will receive the current dividend

Match each of the following stockholders' equity concepts to the most appropriate term (a-h) . -A financial institution that records and maintains records of another company's stockholders

A corporation has 50,000 shares of $25 par stock outstanding.If the corporation issues a 3-for-1 stock split,the number of shares outstanding after the split will be

Treasury stock should be reported in the financial statements of a corporation as a (n)

The following account balances appear on the balance sheet of Osgood Industries:​​ The board of directors declared a 2% stock dividend when the market price of the stock was $135 per share.​Required

Before a stock dividend can be declared or paid,there must be sufficient cash.

Significant changes in stockholders' equity are reported on the

Sabas Company has 20,000 shares of $100 par,2% cumulative preferred stock and 100,000 shares of $50 par common stock.The following amounts were distributed as dividends:​ Determine the dividends per share for preferred and common stock for the second year.

Match each of the following stockholders' equity concepts to the appropriate term (a-h) . -The rules and procedures for conducting a corporation's affairs

The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.