49.
Shares that have been sold and are in the hands of stockholders are called:
50.
Which of the following is
not
an addition to total paid-in-capital?
51.
The term paid-in capital means:
52.
Which of the following best describes retained earnings?
53.
Which of the following would usually be the greatest amount?
54.
Which of the following best describes the relationship between revenue and retained
earnings?
55.
If a corporation has only common stock outstanding, which of the following constitutes
legal capital at a particular date?
56.
The entry to record the issuance of common stock at a price above its par value includes:
57.
When a corporation issues capital stock at a price higher than the par value:
58.
When no-par stock is issued:
59.
Zigma Corporation is authorized to issue 2,000,000 shares of $4 par value capital stock.
The corporation issued half the stock for cash at $8 per share, earned $336,000 during the
first three months of operation, and declared a cash dividend of $60,000. The total paid-in
capital of Zigma Corporation after three months of operation is:
60.
Thurman Corporation issued 450,000 shares of $.50 par value capital stock at its date of
incorporation for cash at a price of $4 per share. During the first year of operations, the
company earned $100,000 and declared a dividend of $40,000. At the end of this first year
of operations, the balance of the Common Stock account is:
61.
Century Corporation issued 400,000 shares of $4 par value common stock at the time of its
incorporation. The stock was issued for cash at a price of $16 per share. During the first
year of operations, the company sustained a net loss of $100,000. The year-end balance
sheet would show the balance of the Common Stock account to be:
62.
Shore and Gardiner each own 10,000 shares of S&G Corporation $12 par value stock
which they purchased for $38 per share directly from the corporation. If Shore sells his
stock to Gardiner for $475,000:
On January 1, 2015, Juniper Corporation issued 60,000 shares of its total 200,000
authorized shares of $4 par value common stock for $8 per share. On December 31, 2015,
Juniper Corporation’s common stock is trading at $12 per share.
63.
Refer to the information above. Assuming Juniper Corporation did not issue any more
common stock in 2015, how does the increase in value of its outstanding stock affect
Juniper?
11–30
64.
Refer to the information above. Assume Juniper Corporation decides to issue an additional
1,000 shares of its common stock on December 31, 2015. How will the above increase in
value affect Jupiter?
Juniper reports a gain of $4 per share on all stock sold during the year.
Shown below is information relating to the stockholders’ equity of Grant Corporation at
December 31, 2015:
Dividends have been declared and paid for 2015.
65.
Refer to the information above. Grant’s total legal capital at December 31, 2015, is:
66.
Refer to the information above. The total amount of Grant’s paid-in capital at December
31, 2015, is:
67.
Refer to the information above. The average issue price per share of Grant’s preferred
stock was:
68.
Refer to the information above. The book value per share of common stock is:
69.
Refer to the information above. The balance in Retained Earnings at the beginning of the
year was $950,000, and there were no dividends in arrears. Net income for 2015 was
$980,000. What was the amount of dividend declared on each share of common stock
during 2015?
Shown below is information relating to the stockholders’ equity of Brookdale Corporation
at December 31, 2015:
70.
Refer to the information above. The average issue price per share of the preferred stock
was:
71.
Refer to the information above. What was the average issue price per share of common
stock?
72.
Refer to the information above. How many shares of common stock are outstanding?
73.
Refer to the information above. If Brookdale Corporation had reacquired 7,000 shares of
treasury stock early in 2015, and this was the company’s only treasury stock transaction,
then some treasury stock must have been sold during 2015 for:
74.
Assuming there is no preferred stock, book value per share of common stock is derived by
which of the following:
75.
The net assets of a corporation are equal to:
76.
Coronet Corp. has total stockholders’ equity of $7,400,000. The company’s outstanding
capital stock includes 100,000 shares of $10 par value common stock and 20,000 shares of
6%, $100 par value preferred stock. (No dividends are in arrears.) The book value per
share of common stock is:
77.
Marks Corporation has total stockholders’ equity of $7,400,000. The company has
outstanding 300,000 shares of $1 par value common stock and 20,000 shares of 8%
preferred stock, $100 par value. (No dividends are in arrears.) The book value per share of
common stock is:
78.
Seville Corporation has net assets of $2,072,000 and paid-in capital of $700,000. The only
stock issue consists of 74,000 outstanding shares of common stock. From this information,
it can be deduced that the company has:
79.
Santa Fe Boat Yard has total stockholders’ equity of $4,100,000, comprised of the
following:
– $2,000,000 in $5 preferred stock consisting of 20,000 shares of $100 par value.
– $420,000 in common stock of $6 par value per share.
– $700,000 of additional paid-in capital.
– $980,000 in retained earnings.
Assuming there are no dividends in arrears, the book value per share of common stock is: