Reference no: EM132322194
Question
1. When a company issues stock? dividends:
A.liabilities are increased.
B.common stock is decreased.
C.dividends are decreased.
D.retained earnings are decreased.
2. Which of the following is TRUE regarding treasury? stock?
A.Treasury Stock increases? stockholders' equity
B.Treasury Stock has a credit balance
C.Treasury Stock is recorded at cost
D.Treasury Stock is a contra asset account
3. Stella, Inc. has? 240,000 shares of ?$5-par common stock outstanding. They have declared a? 10% stock dividend. The current market price of the common stock is?$11/share. What is the amount that will be debited to Retained Earnings on the date of? declaration?
A.?$264,000
B.?$384,000
C.?$120,000
D.?$132,000
4. Before a 4-1 stock? split, the shares outstanding were 7,000 shares at $24 par. After the? split, what was the par value and number of? shares?
A.28,000 shares and $6?/share
B.28,000 shares and $24?/share
C.35,000 shares and $24?/share
D.7,000 shares and $144?/share
5. Before a 4-1 stock? split, the shares outstanding were? 60,000 shares at? $80.00 par. After the? split, what was the par value and number of? shares?
A.240,000 shares and? $80.00/share
B.?240,000 shares and? $20.00/share
C.?15,000 shares and? $20.00/share
D.?15,000 shares and? $80.00/share
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