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cw490408_Scan 3 - uces liabilities and reduces assets B...

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Unformatted text preview: uces liabilities and reduces assets. B) increases stockholders equity and reduces liabilities. C) increases liabilities and increases assets. D) reduces stockholders equity and reduces assets. 17) Went of a cash dividend previously recorded: A 18) Before a company can pay dividends to the common stockholders, the owners of cumulative preferred stock must receive: A) dividends in arrears, but not the current year's dividends. B) neither the current year's dividends nor dividends in arrears. the current year‘s dividend, but: not dividends in arrears. @all dividends in arrears plus the current year‘s dividend. 19) Stock dividends: A) increase the total liabilities of the corporation, and decrease the total stockholders' equity. @have no effect on total stockholders equity. R, I: X )3 C) are distributions of cash to the stockholders. 0: {-5 x X D) reduce the total assets of the corporation. 20) The B. Disraeli Corporation has 10,000 shares of 10%, $100 par value, We preferred stock outstanding .and 50,000 shares of $5 par value common stock outstanding. As of the beginning of this fiscal year, there were 2 years‘ dividends in arrears on the preferred stock. The board of directors wants to give the common stockholders a $1.50 dividend per share at the end of this fiscal year. The total dividends to be declared by the B. Disraeli Corporation are: PF!) t9 goo/1’ A) $105,000. 13) $175,000. C) $120,000. ($575,000. M 1% av 6’ 21) Given the following data, what is the cost of goods sold? Iii, fiFt) my 309,001? Sales revenue $1,980,000 6mm 5 $0.99 1 Beginning inventory 380,000 I630; 001) AuA It. Foe. SIMP- w—Jda :70 a Pmdiases 1,250,000 ,TiL—J f t 2. 0, 00 0 ) A) $1,210,000 B) $690,000 C 290,000 D) $770,000 )3 1'. Sales revenue $1,450,000 A~ Prue-M14 Chg-b ‘503 Cost of goods sold 345,000 : MM L, Ending inventory 310,000 '- .. l: - f 01 00 V . Purchases 950,000 . a. I ’66 3%,: a 0 o A) $1,035,000 B) $1,485,000 C) $205,000 D) $415,000 ...
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