Accounting, Corporations; Organization, Stock Transactions, and Dividends

Accounting, Corporations; Organization, Stock Transactions, and Dividends

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Title: Chapter 13—Corporations: Organization, Stock Transactions, and Dividends Total score: 50/50 = 100% Total score adjusted by 0.0 Maximum possible score: 50 1. A corporation has 50,000 shares of $28 par value stock outstanding that has a current market value of $150. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately Student Response Value Correct Answer Fe 1.$600 2.$37.50 100% 3.$112 4.$7 Score: 2/2 2. What is the total stockholders' equity based on the following data? Common Stock Excess of Issue Price Over Par Retained Earnings (deficit) Student Response Value Correct Answer Fe 1.$560,000 2.$885,000 3.$835,000 100%
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Student Response Value Correct Answer Fe 4.$935,000 Score: 2/2 3. Which of the following is not classified as paid-in capital on the balance sheet? Student Response Value Correct Answer Fe 1.donated capital 2.common stock 3.treasury stock 100% 4.common stock distributable Score: 2/2 4. One of the main disadvantages of the corporate form is the Student Response Value Correct Answer Fe 1.charter 2.professional management 3.double taxation of dividends 100% 4.corporation must issue stock Score:
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2/2 5. When Bayou Corporation was formed on January 1, 20xx, the corporate charter provided for 100,000 share of $10 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 9,000 shares of stock at a price of $23.00 per share. The entry to record the above transaction would include a Student Response Value Correct Answer Fe 1.debit to Common Stock for $90,000 2.credit to Paid in Capital in Excess of Par- for $117,000 100% 3.credit to Common Stock for $207,000 4.debit to Cash for $90,000 Score: 2/2 6. A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.
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This note was uploaded on 12/13/2010 for the course ACCT 2301 taught by Professor Moore,j during the Fall '08 term at HCCS.

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Accounting, Corporations; Organization, Stock Transactions, and Dividends

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