Quiz 11 - Quiz 11 1 Which of the following would not be...

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Quiz 11: 1. Which of the following would not be true of a privately held corporation? Its shares are regularly traded on the NY Stock Exchange 2. The cumulative effect of the declaration and payment of a cash dividend on a company’s financial statements is to Decrease total assets and stockholders’ equity 3. Which of the following is not true of a corporation? The acts of its owners bind the corporation 4. Treasury Stock is a(n) Contra stockholders’ equity account 5. Under the corporate form of business organization The corporation’s life is stipulated in its charter 6. CAB Inc. has 1000 shares of 4%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at Dec 31, 2012. $4000 in total 7. Cey, Inc. issued 5000 shares of stock at a stated value of $10/ share. The total issue of stock sold for $15/ share. The journal entry to record this transaction would include a
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