Exam 19: Corporations: Stock Values,dividends,treasury Stocks,

Dexter Corporation has total paid-in capital of $140,000 and retained earnings of $90,000.It has 2,000 shares of $10 preferred stock outstanding with no dividends in arrears and 4,000 shares of $10 par value common stock outstanding.The book value of each share of common stock is:

Changes in retained earnings result from effects of prior period adjustments,net income or loss,or dividends paid.

The retained earnings section after a two-for-one stock split will:

Bailey's Western Wear has 3,000 shares of $20 par value common stock outstanding.During the current year,the company distributed a 5% stock dividend.The market value of the stock at that time was $15 per share.Bailey's total stockholders' equity should increase or decrease by:

When treasury stock was sold below cost,the decrease was debited to Loss on Sale.This error would cause:

Prepare the following journal entries for Complex Company. March 15 Declared the stated dividend on 7,000 shares of $10 par,10% preferred stock. April 15 Paid the dividend.

The payment of a cash dividend was debited to Retained Earnings and credited to Cash.This error would cause:

Book value per share is calculated for both preferred stock and common stock.

Appropriations to retained earnings is:

In the closing process for corporations,net income is closed to the capital account.

What are the annual dividends on preferred stock,$25 par,2,000 shares authorized,600 shares issued,and a dividend rate of 3%?

Prior period adjustments are not included in the statement of retained earnings.

Which of the following statements is true when appropriating retained earnings?

XYZ Corporation issued a four-for-one stock split.The number of outstanding shares before the split was 20,000 and the par value was $24 per share.After the split,what was the par value per share and number of shares?

A stock split:

Prepare the following stock dividend journal entries for Tamera,Inc.

Treasury stock was sold above cost;the excess was credited to Gain on Sale.This error would cause:

From the following,determine the book value per share for preferred and common stocks,assuming $2,000 of dividends are in arrears on the preferred stock.

Which of the following would be shown on the statement of retained earnings?

Market Value is defined as: