Exam 19: Corporations: Stock Values, dividends, treasury Stocks, and Retained Earnings

Before a three-for-one stock split,the shares outstanding were 5,000 shares at $12 par.After the split,what was the par and number of shares?

Which of the following in not true about retained earnings?

Using the following accounts: [1]Cash [2]Dividends payable [3]Preferred stock [4]Common stock [5]Dividend distributable [6]Paid-in capital in excess of par common stock [7]Paid-in capital in excess of par preferred stock [8]Paid-in capital from treasury stock [9]Retained earnings [10]Appropriation for plant expansion [11]Treasury stock [12]Income summary Indicate the account(s) to be debited and credited to record the following transactions. -Sold treasury stock at a price equal to cost. Debit ________ & ________ & ________ Credit ________ & ________ & ________

Prepare the following journal entries for Complex Company. $\text {March 15}$ $\quad$ $\text {Declared the stated dividend on 5,000 shares of \$ 10 par, \(5 \%\) preferred stock.}$ $\text { April 15}$ $\quad$ $\text {Paid the dividend.}$

Treasury Stock is what type of account?

Farm and Supply reissued 100 shares of treasury stock at $20 that had been reacquired for $15 per share.What is the entry?

A corporation sold 20 shares of $20 par value treasury stock for $40 per share.The treasury stock cost $30 per share to acquire.The entry to record the transaction would include a:

Rick's Internet Corporation balance in Retained Earnings is $30,000.The board of directors directs that $15,000 be appropriated for future business expansion.This will cause total retained earnings to:

What is the book value per share of common stock if total stockholders' equity is $450,000 with 15,000 shares of common stock outstanding?

Appropriations to retained earnings can be:

The journal entry to pay a cash dividend is to:

A stock split will not affect total stockholders' equity or the number of shares of stock issued.

The statement of retained earnings includes the account Preferred Stock.

Book value per share is found by dividing total assets by total stockholders' equity.

When the corporation has both preferred and common stock,the steps to compute book value for common stock would be:

In the dividend process,the liability Dividend Payable is recognized on the:

Ariel Investigations has total paid-in capital of $90,000 and retained earnings of $60,000.It has 200 shares of $100 par value common stock outstanding.The book value of each share of common stock is:

Using the following accounts: [1]Cash [2]Dividends payable [3]Preferred stock [4]Common stock [5]Dividend distributable [6]Paid-in capital in excess of par common stock [7]Paid-in capital in excess of par preferred stock [8]Paid-in capital from treasury stock [9]Retained earnings [10]Appropriation for plant expansion [11]Treasury stock [12]Income summary Indicate the account(s) to be debited and credited to record the following transactions. -Sold preferred stock at a price above par. Debit ________ & ________ & ________ Credit ________ & ________ & ________

An exchange of one share of an old issue of stock for a multiple number of shares of a new issue of stock with reduced par value is known as a:

Par value is the price per share a corporation pays to holders of stock when it is redeemed.