Question : 11) The entry to record the payment of a cash : 1177253

 

11) The entry to record the payment of a cash dividend would include a:

A) debit to Dividends Payable; credit to Cash.

B) debit to Retained Earnings; credit to Cash.

C) credit to Dividends Declared, debit to Cash.

D) debit to Cash, credit to Retained Earnings.

 

12) On the date of record, the journal entry would include:

A) a debit to Dividend Payable.

B) a credit to Dividend Payable.

C) a credit to Cash.

D) no entry.

13) The journal entry to record the issuance of a stock dividend is to:

A) debit Common Stock Dividend Distributable (number of shares × par value common stock); credit Common Stock (same).

B) debit Common Stock Dividends Distributable (number of shares × market value common stock); credit Common Stock (same).

C) debit Retained Earnings (market value × number of shares); credit Common Stock Dividends Distributable (number of shares × par value); credit Paid-in Capital in Excess of Par-Stock Dividend.

D) debit Common Stock Dividend Distributable (number of shares × par value); credit Cash.

 

14) Which of the following is the journal entry to record the declaration of a stock dividend?

A) Debit Common Stock Dividend Distributable (number of shares × par value common stock); credit Common Stock (same)

B) Debit Common Stock Dividend Distributable (number of shares × market value common stock); credit Common Stock (same)

C) Debit Retained Earnings (market value × number of shares); credit Common Stock Dividend Distributable (number of shares × par value); credit Paid-In Capital in Excess of Par Stock Dividend (market value – par value) × number of shares

D) Debit Common Stock (number of shares × par value); credit Cash

 

15) The entry to record the declaration of a stock dividend would include:

A) a credit to Retained Earnings.

B) a credit to Cash.

C) a credit to Common Stock.

D) None of these answers are correct.

16) The entry to record the distribution of the stock dividend would include:

A) a credit to Common Stock.

B) a debit to Common Stock Distributable.

C) both A and B are correct.

D) None of these answers are correct.

 

17) Cody’s Western Wear has 2,000 shares of $10 par value common stock outstanding. During the current year, the company distributed a 10% stock dividend. The market value of the stock at that time was $16 per share. Cody’s total stockholders’ equity should increase or decrease by:

A) $0.

B) $1,200.

C) $2,000.

D) ($3,200).

 

18) Before a three-for-one stock split, the shares outstanding were 5,000 shares at $12 par. After the split, what was the par and number of shares?

A) 15,000 shares at $12 per share

B) 20,000 shares at $6 per share

C) 15,000 shares at $4 per share

D) 5,000 shares at $48 per share

19) ABC Corporation offered a four-for-one stock split. The number of outstanding shares before the split was 15,000 and the par value was $20 per share. After the split, what was the par value and number of shares?

A) 3,750 shares and $80 per share

B) 60,000 shares and $80 per share

C) 60,000 shares and $5 per share

D) 3,750 shares and $5 per share

 

20) A stock split:

A) causes decrease in the number of shares outstanding.

B) increases the par or stated value in proportion.

C) reduces retained earnings.

D) None of these answers are correct.

 

 

 

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