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Exam 11: Corporate Reporting and Analysis

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Question 31

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_____________________ is the price at which a stock is bought and sold.

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Market val...

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Question 32

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The following data were reported by a corporation: The number of outstanding shares is:

A) 12,000
B) 15,000
C) 17,000
D) 20,000
E) 23,000

F) D) and E)
G) A) and B)

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Question 33

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When a company declares of cash dividends retained earnings is reduced.

Preferred stock with a feature allowing preferred stockholders to share with common shareholders in any dividends in excess of the percent or dollar amount stated on the preferred stock is called:

A company was organized in January 2009 and has 2,000 shares of $100 par value, 10%, nonparticipating preferred stock outstanding and 30,000 shares of $10 par value common stock outstanding. It has declared and paid cash dividends each year as shown below. Calculate the total dividends distributed to each class of stockholder under each of the assumptions given.

A company reported stockholders' equity on January 1 of the current year as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 600,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,025,000; Retained Earnings, $2,850,000. Prepare journal entries to record the following transactions:

A corporation's distribution of additional shares of its own stock to its stockholders without the receipt of any payment in return is called a:

A liquidating dividend is:

A class of stock that does not have a par value and can usually be issued at any price without creating a minimum legal capital deficiency is called:

The total amount of stock that a corporation's charter allows it to issue is referred to as:

Prior period adjustments are reported in the:

A corporation is responsible for its; own acts and debts as the corporation is considered a ____________________________________.

Pete's outstanding stock consists of (a) 17,000 shares of noncumulative 7.50% preferred stock with a $10 par value and (b) 42,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. What is the amount of dividends that the Common Stockholders receive for all years presented?

A corporation is a separate legal entity from its owners.

A company has net income of $3,000,000. It has 600,000 weighted-average common shares outstanding and a price-earnings ratio of 17. What is the market value per share of this company's stock?

Achieving an increased return on common stock by paying dividends on preferred stock at a rate that is less than the rate of return earned with the assets invested from the preferred stock issuance is called:

An amount of assets defined by state law that stockholders must invest and leave invested in a corporation is called the:

The statement of changes in stockholders' equity:

A company reported $990,000 in net income for the current year. Total weighted-average number of common shares outstanding is equal to 150,000 shares and the year-end market price is $79.20 per common share. Calculate the company's price earnings ratio.

A company has $100,000 of 10% noncumulative, nonparticipating, preferred stock outstanding and $150,000 of common stock outstanding. In the company's first year of operation, no dividends were paid, but during the second year, it paid cash dividends of $25,000. Compute the dividends to be distributed to (1) preferred shares and (2) common shares.