FinMan10e_ATest_ch11

FinMan10e_ATest_ch11 - 10th Edition FINANCIAL &...

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10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Dechac Chapter Test 11A Score % Name Course Section NOTE: Each of the 50 correct answers is assigned a weight of 2%. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—46% INSTRUCTIONS: Complete each of the following questions and statements by writing the appropriate A
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TEST 11A (Concluded) words or amounts in the Answers column. For Scoring QUESTIONS/STATEMENTS Answers 0. Corporations whose shares of stock are widely distributed and traded in a public market are called . ................................................................. public corporations 0. ____ 1–2. A corporation purchases 120,000 shares of its own $25 par common stock for $1,250,000, recording it at cost. Will the purchase increase, decrease, or have no effect on the following? 1. Expenses . ............................................................................................... 1. ____ 2. Total assets . ........................................................................................... 2. ____
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3–5. The stock in Question 1–2 is resold for $1,500,000. Will the sale increase, decrease, or have no effect on the following? 3. Revenues . .............................................................................................. 3. ____ 4. Total stockholders’ equity . ...................................................................... 4. ____ 5. Total assets . ........................................................................................... 5. ____ 6. If 90,000 shares of common stock are authorized, 75,000 shares are issued, and 5,000 shares are held as treasury stock, how many shares are outstanding? . ........................................................................ 6. ____ 7. Organization costs are normally classified as a(n) . ............................... 7. ____ 8–9. A corporation’s outstanding stock is composed of 20,000 shares of $5 preferred and 100,000 shares of common, $25 par. At the end of its
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FinMan10e_ATest_ch11 - 10th Edition FINANCIAL &...

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