ch9a - Question 1(1 point Retained earnings can best be...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Question 1   (1 point) Retained earnings can best be described as  Student response: Student Response Answer Choices a. cash receipts minus expenses after  adjustments b. net income minus expenses after  adjustments c. undistributed profits d. net income minus cash  disbursements after adjustments Score: 1 / 1   Question 2   (1 point) Fletcher Company commenced business on January 1, 2007 but has never declared or paid any dividends. The  following are account balances after closing the books at December 31, 2009: Cash $18,000 Common stock, $1 par 1,000 Paid-in capital in excess of par value 49,000 Preferred stock, $100 par, 10%, cumulative 50,000 Retained earnings 75,000 Net income during 2009 totaled $30,000 and the Board of Directors wishes to distribute a total of $15,000 in cash  dividends. The common stockholders will receive what amount per share?  Student response: Student Response Score: 1 / 1   Question 3   (1 point) The par value of stock is  Student response: Student Response
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Score: 1 / 1
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern