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Exam 10: Stockholders Equity

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Question 31

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The Statement of Stockholders' Equity does NOT include:

A) Retained Earnings.
B) Accumulated Other Comprehensive Income.
C) Treasury Stock.
D) Equity-Method Investments.

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Question 32

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The price-earnings ratio is the same amount as the market value per share.

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Question 33

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For cash dividends,no journal entry is made on the date of record.

Only stockholders holding stock on the record date will receive a dividend.

The issuance of common stock in exchange for cash will be reported in:

Bryant Corporation issued 10,000 new shares of its $5 par common stock in conjunction with an employee stock compensation plan.On the date of issuance,the market value of the stock was $50 per share. Prepare the journal entry to record this transaction.Omit explanations.

The chronological order of dates for cash dividends are:

Corrao Foods Corporation has 5000 shares of 7%,$15 par value,cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding at December 31,2019 and December 31,2020.In 2019,a $2000 dividend was declared and paid.In 2020,$33,000 of dividends are declared and paid.What are the dividends received by the preferred stockholders in 2020 (assuming no dividends in arrears prior to 2019) ?

During the first year of operations,New York Corporation had the following transactions: Required: Prepare the journal entries for the above transactions.Omit explanations.

Convertible preferred stock is usually convertible into the issuer's common stock at the discretion of the preferred stockholder.

Corporations may either sell stock directly to the stockholders or use the service of an underwriter.

Treasury stock accounts for the difference between the number of:

The Good Word Store reported the following figures: Retained Earnings,January 31,2019.........................$39,000,000 Retained Earnings,January 31,2020.........................$22,000,000 Total Stockholders' Equity,January 31,2019...........$30,000,000 Total Stockholders' Equity,January 31,2020...........$26,000,000 The company's fiscal year ends on January 31 each year.Dividends declared for the fiscal year ending January 31,2020 are $14,000,000.What is the net loss for the fiscal year ending January 31,2020?

Treasury stock is reported in the stockholders' equity section of the balance sheet.

The payment of dividends will be reported on the statement of cash flows as a:

The purchase of treasury stock is reported on the statement of cash flows as a financing activity.

The Retained Earnings account contains cash for paying dividends to the stockholders.

On February 3,2019,Bombard Corporation acquired 4,000 shares of its own $1 par value common stock for $30 per share.On May 24,2019,1,500 shares of the treasury stock were sold for $35 per share. Required: Prepare the journal entries to record the purchase and sale of the treasury stock.Omit explanations.

The chairperson of the board of directors often has the title of:

The date on which a cash dividend becomes a legal obligation is the: