Final - Morgan-1 - Answers d. c. c. b. a. d. d. b. c. b. c....

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Unformatted text preview: Answers d. c. c. b. a. d. d. b. c. b. c. d. b. a. b. a. d. c. b. c. ACC 423: Final Exam Daphane Morgan University of Phoenix Professor Barnett Questions 1. Stockholders' equity is generally classified into two major categories: a. contributed capital and appropriated capital b. appropriated capital and retained earnings c.retained earnings and unappropriated capital d. earned capital and contributed capital 2. When treasury stock is purchased for more than the par value of the stock and the cost method is used to a stock, what account(s) should be debited? a. Treasury stock for the par value and paid-in capital in excess of par for the excess of the purchase price o b. Paid-in capital in excess of par for the purchase price c. Treasury stock for the purchase price. d. Treasury stock for the par value and retained earnings for the excess of the purchase price over the par v 3. Which of the following features of preferred stock make the security more like debt than an equity instrum a. Participating b. Voting c. Redeemable d. Noncumulative 4. An entry is not made on the a. date of declaration b. date of record c. date of payment d. An entry is made on all of these dates 5. The rate of return on common stock equity is calculated by dividing a. net income less preferred dividends by average common stockholders' equity b. net income by average common stockholders' equity c. net income less preferred dividends by ending common stockholders' equity d. net income by ending common stockholders' equity Due: Monday, February 22, 2010 B-(20) 6. Convertible Bonds a. have priority over other indebtednessa....
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This note was uploaded on 04/09/2010 for the course ACC 423 acc 423 taught by Professor Mr.youknowwho during the Spring '10 term at University of Phoenix.

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Final - Morgan-1 - Answers d. c. c. b. a. d. d. b. c. b. c....

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