Question : 141. The Dayton Corporation began the current year with a retained : 1246561

 

 

141. The Dayton Corporation began the current year with a retained earnings balance of $25,000.  During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $3,000 on equipment.  Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $5,000.  Compute the year end retained earnings balance. 
A. $29,000
B. $35,000
C. $39,000
D. $45,000

 

142. What is the total stockholders’ equity based on the following data?

Common Stock

$510,000

Excess of Issue Price Over Par

375,000

Retained Earnings (deficit)

50,000

 

 

 
A. $935,000
B. $885,000
C. $835,000
D. $560,000

 

143. Treasury stock should be reported in the financial statements of a corporation as a(n) 
A. investment.
B. liability.
C. deduction from total paid-in capital.
D. deduction from total paid-in capital and retained earnings.

 

144. The reduction of par or stated value of stock by issuance of a proportionate number of additional shares is termed a  
A. liquidating dividend
B. stock split
C. stock option
D. preferred dividend

 

145. A corporation has 40,000 shares of $25 par value stock outstanding.  If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be  
A. 120,000 shares
B. 40,000 shares
C. 80,000 shares
D. 13,333 shares

 

146. When a corporation completes a 3-for-1 stock split  
A. the ownership interest of current stockholders is decreased
B. the market price per share of the stock is decreased
C. the par value per share is decreased
D. b and c

 

147. A corporation has 50,000 shares of $28 par value stock outstanding that has a current market value of $150.  If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately  
A. $7
B. $112
C. $37.50
D. $600

 

148. The primary purpose of a stock split is to  
A. increase paid-in capital
B. reduce the market price of the stock per share
C. increase the market price of the stock per share
D. increase retained earnings

 

149. A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.  Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 a share.  What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? 
A. $3,200
B. $6,400
C. $4,800
D. $8,800

 

150. A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9.  Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share.  The effect of the declaration and issuance of the stock dividend is to  
A. decrease retained earnings, increase common stock, and increase paid-in capital
B. increase retained earnings, decrease common stock, and decrease paid-in capital
C. increase retained earnings, decrease common stock, and increase paid-in capital
D. decrease retained earnings, increase common stock, and decrease paid-in capital

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more