Examination 3

# Examination 3 - Homework Manager View My Grades Financial...

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Score 3/3 Question 4: Score 0/3 Question 5: Score 3/3 \$357,000 \$312,900 Some other amount Feedback: 3(6,300 x 7) +0.7(384,000) = 401,100 Laurel Corporation has total stockholders' equity of \$6,400,000. The company has outstanding 520,000 shares of \$3 par value common stock and 20,000 shares of 10% preferred stock, \$100 par value. (No dividends are in arrears.) The book value per share of common stock is: Your Answer: Choice Selected \$6.96. \$8.46. \$6.21. \$5.46. Feedback: 6,400,000 – (20,000 x 100) = 4,400,000; 4,400,000/520,000 = 8.46 On September 1, 2007, Baltimore Corporation's common stock was selling at a market price of \$120 per share. On that date, Baltimore announced a 6 for 5 stock split. At what price would you expect the stock to trade immediately after the split goes into effect? Your Answer: Choice Selected \$600. \$24 \$120. Selected \$100. Feedback: 120 x 5/6 = 6 Vision Corporation has the following on its financial statement: Refer to the above data. If Vision paid a total of \$80,000 in dividends, how much would each common stockholder receive for each share of stock owned? (Assume Preferred Stock 6%, \$100 par, cumulative, 14,000 shares authorized 630,000 Common Stock, \$3 par, 650,000 shares authorized, 312,000 issued 936,000 Paid-in Capital - Preferred 930,000 Paid-in Capital - Common 1,100,000 Retained earnings 850,000 Page 2 of 12 Homework Manager - View My Grades - Financial Accounting ACCT 116A - Tuttle (Su. .. 7/31/2008
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Examination 3 - Homework Manager View My Grades Financial...

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