2009-07-31_060928_ACC6

2009-07-31_060928_ACC6 - Cash dividends are usually not...

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Cash dividends are usually not paid on which of the following? A) class A common stock B) preferred stock C) class B common stock D) treasury stock Which of the following would result in a credit to retained earnings? A) an understatement of an expense in a prior period B) an understatement of a revenue in the prior period C) a stock split D) a net loss for the period What is the total stockholders' equity based on the following data? Common Stock $800,000 Excess of Issue Price Over Par 375,000 Retained Earnings (deficit) 50,000 A) $1,225,000 B) $1,100,000 C) $1,175,000 D) $1,125,000 If the board of directors authorizes a $100,000 restriction of retained earnings for a future plant expansion, the effect of this action is to A) decrease total retained earnings and increase total liabilities. B) decrease total assets and total stockholders' equity. C) reduce the amount of retained earnings available for dividend declarations. D) increase stockholders' equity and to decrease total liabilities
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2009-07-31_060928_ACC6 - Cash dividends are usually not...

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