A) cause retained earnings to decrease B) are expenses and cause shareholders' equity to decrease C) cause retained earnings to increase D) are expenses and cause shareholders' equity to increase A) cause retained earnings to decrease B) are expenses and cause shareholders' equity to decrease C) cause retained earnings to increase D) are expenses and cause shareholders' equity to increase

Exam 8: Accounting for Shareholders Equity

Equitable,Inc.issued no new common stock and had 100,000 shares issued and outstanding during 2011.The following information is taken from Equitable's accounting records: What was the dividend declared during the year ended December 31,2011?

(Multiple Choice)

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Question 201

Issuing a stock dividend ________.

(Multiple Choice)

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Question 202

Team Shirts has a balance in retained earnings of $15,000.This amount is ________.

(Multiple Choice)

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(80)

Question 203

Team Shirts sold $4,000 worth of its own stock in the stock market.The transaction would _ cash by $4,000 and _ shareholders' equity by $4,000.

(Multiple Choice)

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Question 204

Marcy's Catering had the following information in the shareholders' equity section of its balance sheet at January 1,2011. During 2011,the following transactions occurred: a.The corporation purchased 500 shares of treasury stock on June 15 for $5 per share. b.The corporation reported $65,000 in net income. c.A dividend of $0.50 per share was paid on November 15. Required: Prepare the shareholders' equity section of the balance sheet at December 31,2011 for Marcy's Catering.

(Essay)

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Question 205

Analyze each of the following items.Indicate on which financial statement(s)each would appear.SOME ITEMS MAY APPEAR ON MORE THAN ONE FINANCIAL STATEMENT. a.income statement b.statement of changes in shareholders' equity c.balance sheet 1.Net income 2.Earnings per share 3.Dividends 4.Outstanding stock __ 5.Retained earnings

(Short Answer)

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Question 206

Dividends ________.

(Multiple Choice)

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Question 207

PDG Corporation had a return on equity of 18%.Beginning and ending shareholders' equity for the corporation were $570,000 and $560,000 respectively.There were 350,000 common shares and no preferred shares outstanding.What was net income for the year?

(Multiple Choice)

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Question 208

Capital Venture,Inc.began operations in January 2011 by issuing common stock for $6 per share.Net income for 2011 was $100,000 and total dividends were $11,500. Part A: Fill in the missing amounts in the spaces provided: Part B: Use the above information to answer the following questions:

(Essay)

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Question 209

On November 1,Team Shirts announced a 3-for-1 stock split to be effective on November 15.On November 15,there were 335,000 shares of stock outstanding.How many shares of Team Shirts' stock were outstanding after the stock split?

(Short Answer)

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Question 210

Team Shirts issued 20,000 shares of $2 par value stock for $20 per share.This transaction increased Cash $400,000 and increased Additional paid-in capital ________.

(Multiple Choice)

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Question 211

Marquise Corporation had average common shareholders' equity of $816,667.The company has no preferred stock.Net income for the year was $147,000.Earnings per share was $1.50.Calculate the weighted average number of common shares outstanding during the year.

(Short Answer)

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Question 212

Corporations split stock because ________.

(Multiple Choice)

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Question 213

Argonaut Enterprises had 500,000 shares of common stock outstanding on January 1.On June 1,Argonaut issued an additional 60,000 common shares.Argonaut has no treasury stock.If Argonaut's net income was $133,750 for the year,its earnings per share for the year was ________,rounded to the nearest cent.

(Multiple Choice)

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Question 214

Team Shirts issued a 2-for-1 stock split.Just before the split,Team Shirts had 100,000,$1 par value common shares outstanding.After the split,Team Shirts had ________ outstanding.

(Multiple Choice)

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Question 215

Ace Electronics has the following information available at the end of the year: * Additional shares of common stock were issued on July 1 of this year. Net income was $90,000 this year. 1.What is the total dividend declared by Ace's board of directors this year? 2.What is the total amount of the dividends declared that belongs to the preferred shareholders? 3.What is the weighted average number of common shares outstanding this year? 4.What is earnings per share this year? 5.What is return on equity this year,rounded to the nearest tenth of a percent?

(Essay)

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Question 216

Aqua,Inc.had the following shareholders' equity section on its December 31,2011 balance sheet:

(Essay)

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Question 217

Shareholders purchase stock and assume the business risks associated with the company issuing the stock in exchange for sharing in the potential earnings and growth of the company.

(True/False)

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Question 218

Out of Africa,a multi-national corporation had a very successful year.The board of directors declared and paid a cash dividend of $50,000.The prior year,Out of Africa did not pay dividends on its 400 shares of cumulative,8%,$100 par,preferred stock.How much of the cash dividend was paid to the COMMON shareholders?

(Multiple Choice)

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(86)

Question 219

Match each of the appropriate definition with the correct item.

Date when the board of directors of a corporation authorizes the payment of dividends to the shareholders of the corporation

contra-equity account

Treasury stock is this type of an account because its balance is deducted to arrive at total shareholders’ equity

shareholders

Owners of a corporation

dividends

Correct Answer:

Verified

Date when the board of directors of a corporation authorizes the payment of dividends to the shareholders of the corporation

Treasury stock is this type of an account because its balance is deducted to arrive at total shareholders’ equity

Owners of a corporation

Owners’ contributions to a firm

Corporate distribution of earnings to the shareholders of the corporation

A company’s net income stated on a per share basis

A distribution of earnings in the form of cash to the shareholders of a corporation

Date used to determine which shareholders should receive dividends; anyone owning stock on this date is entitled to receive dividends

Type of corporate stock which has preference rights over common stock

(Matching)

4.8/5

(70)

Question 220

Showing 201 - 220 of 226

Equitable,Inc.issued no new common stock and had 100,000 shares issued and outstanding during 2011.The following information is taken from Equitable's accounting records: What was the dividend declared during the year ended December 31,2011?

Issuing a stock dividend ________.

Team Shirts has a balance in retained earnings of $15,000.This amount is ________.

Team Shirts sold $4,000 worth of its own stock in the stock market.The transaction would _ cash by $4,000 and _ shareholders' equity by $4,000.

Dividends ________.

PDG Corporation had a return on equity of 18%.Beginning and ending shareholders' equity for the corporation were $570,000 and $560,000 respectively.There were 350,000 common shares and no preferred shares outstanding.What was net income for the year?

Capital Venture,Inc.began operations in January 2011 by issuing common stock for $6 per share.Net income for 2011 was $100,000 and total dividends were $11,500. Part A: Fill in the missing amounts in the spaces provided: Part B: Use the above information to answer the following questions:

On November 1,Team Shirts announced a 3-for-1 stock split to be effective on November 15.On November 15,there were 335,000 shares of stock outstanding.How many shares of Team Shirts' stock were outstanding after the stock split?

Team Shirts issued 20,000 shares of $2 par value stock for $20 per share.This transaction increased Cash $400,000 and increased Additional paid-in capital ________.

Marquise Corporation had average common shareholders' equity of $816,667.The company has no preferred stock.Net income for the year was $147,000.Earnings per share was $1.50.Calculate the weighted average number of common shares outstanding during the year.

Corporations split stock because ________.

Team Shirts issued a 2-for-1 stock split.Just before the split,Team Shirts had 100,000,$1 par value common shares outstanding.After the split,Team Shirts had ________ outstanding.

Aqua,Inc.had the following shareholders' equity section on its December 31,2011 balance sheet:

Shareholders purchase stock and assume the business risks associated with the company issuing the stock in exchange for sharing in the potential earnings and growth of the company.

Business: Whats It All About

Qualities of Accounting Information

Accruals and Deferrals: Timing Is Everything in Accounting

Payment for Goods and Services: Cash and Accounts Receivable

The Purchase and Sale of Inventory

Acquisition and Use of Long-Term Assets

Accounting for Liabilities

Preparing and Analyzing the Statement of Cash Flows

Using Financial Statement Analysis to Evaluate Firm Performance

Quality of Earnings, corporate Governance, and Ifrs

Filters

Exam 8: Accounting for Shareholders Equity

Equitable,Inc.issued no new common stock and had 100,000 shares issued and outstanding during 2011.The following information is taken from Equitable's accounting records: What was the dividend declared during the year ended December 31,2011?

Issuing a stock dividend ________.

Team Shirts has a balance in retained earnings of $15,000.This amount is ________.

Team Shirts sold $4,000 worth of its own stock in the stock market.The transaction would _________ cash by $4,000 and _________ shareholders' equity by $4,000.

Dividends ________.

PDG Corporation had a return on equity of 18%.Beginning and ending shareholders' equity for the corporation were $570,000 and $560,000 respectively.There were 350,000 common shares and no preferred shares outstanding.What was net income for the year?

Capital Venture,Inc.began operations in January 2011 by issuing common stock for $6 per share.Net income for 2011 was $100,000 and total dividends were $11,500. Part A: Fill in the missing amounts in the spaces provided: Part B: Use the above information to answer the following questions:

On November 1,Team Shirts announced a 3-for-1 stock split to be effective on November 15.On November 15,there were 335,000 shares of stock outstanding.How many shares of Team Shirts' stock were outstanding after the stock split?

Team Shirts issued 20,000 shares of $2 par value stock for $20 per share.This transaction increased Cash $400,000 and increased Additional paid-in capital ________.

Marquise Corporation had average common shareholders' equity of $816,667.The company has no preferred stock.Net income for the year was $147,000.Earnings per share was $1.50.Calculate the weighted average number of common shares outstanding during the year.

Corporations split stock because ________.

Team Shirts issued a 2-for-1 stock split.Just before the split,Team Shirts had 100,000,$1 par value common shares outstanding.After the split,Team Shirts had ________ outstanding.

Aqua,Inc.had the following shareholders' equity section on its December 31,2011 balance sheet:

Shareholders purchase stock and assume the business risks associated with the company issuing the stock in exchange for sharing in the potential earnings and growth of the company.

Business: Whats It All About

Qualities of Accounting Information

Accruals and Deferrals: Timing Is Everything in Accounting

Payment for Goods and Services: Cash and Accounts Receivable

The Purchase and Sale of Inventory

Acquisition and Use of Long-Term Assets

Accounting for Liabilities

Preparing and Analyzing the Statement of Cash Flows

Using Financial Statement Analysis to Evaluate Firm Performance

Quality of Earnings, corporate Governance, and Ifrs

Filters

Team Shirts sold $4,000 worth of its own stock in the stock market.The transaction would _ cash by $4,000 and _ shareholders' equity by $4,000.