FinMan10e_BTest_ch11

FinMan10e_BTest_ch11 - 10th Edition FINANCIAL MANAGERIAL...

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10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 11B 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% B
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TEST 11B (Concluded) INSTRUCTIONS: Complete each of the following questions and statements by writing the appropriate words or amounts in the Answers column. For Scoring QUESTIONS/STATEMENTS Answers 0. Corporations whose shares are owned by a small group are often called . ..................................................................................................... nonpublic or private corporations 0. ____ 1. The excess of issue price over par of common stock is termed a(n) . ... 1. ____ 2. Fully paid stock reacquired by the issuing corporation is called . .......... 2. ____
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3. Land is acquired by issuing 4,000 shares of $100 par common stock with a current market price of $125 per share. At what amount should the land be recorded? . ........................................................................... $ 3. ____ 4–5. A corporation’s outstanding stock is composed of 200,000 shares of $1 preferred and 500,000 shares of common, $100 par. At the end of its first year of operations, a total of $250,000 in dividends is to be distributed. Determine the total amount of dividends to be paid on the preferred stock and common stock. 4. Preferred . ............................................................................................... $ 4. ____ 5. Common . ................................................................................................ $ 5. ____ 6–8. A company purchases 1,000 shares of its $25 par common stock for $90,000 cash, recording it at cost. Will this purchase increase,
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TEST 11B (Concluded) decrease, or have no effect on the following? 6.
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FinMan10e_BTest_ch11 - 10th Edition FINANCIAL MANAGERIAL...

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