Quiz 1 - Question1of10 1.0Points On December 1, 2012, Abel...

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1.0 Points On December 1, 2012, Abel Corporation exchanged 30,000 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Abel at a cost of $40 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $55 per share (the shares were originally issued at $30 per share). As a result of this exchange, Abel's total stockholders' equity will increase by A.  $1,65 0,000. B.  $1,20 0,000. C.  $1,35 0,000. D.  $300, 000. Answer Key: A Question 2 of 10 1.0 Points If management wishes to "capitalize" part of the earnings, it may issue a A.  liquidati ng  dividend . B. cash  dividend . C. stock  dividend . D.  property  dividend . Answer Key: C Question 3 of 10 1.0 Points Anders, Inc., has 10,000 shares of 5%, $100 par value, cumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at December 31, 2013. There were no dividends declared in
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Quiz 1 - Question1of10 1.0Points On December 1, 2012, Abel...

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