Question 1

Prepare journal entries for stockholders' equity transactions
A partial list of the ledger accounts of Skyway Corporation is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

Accepted Answer

The answer of Prepare journal entries for stockholders' equity transactions
A...

Question 2

Refer to the information above. If Vision decided to purchase 50,000 shares of its common stock to be used for future stock option plans at $9.50 per share, what journal entry would they make?

Accepted Answer

A)   Option A
B)   Option B
C)   Option C
D)   Option DE) A) and B)
F) All of the above

Question 3

Pike Corporation has total stockholders' equity of $8,690,000 as of December 31, 2009. The company has 300,000 shares of $2 par value common stock and 20,000 shares of 8% cumulative preferred stock, $100 par value, outstanding. Due to lower-than-expected net income, no dividends were declared by Pike's board of directors for 2009. The book value per share of common stock is:

Accepted Answer

A)   $25.00.
B)   $21.77.
C)   $23.00.
D)   $25.60.E) A) and C)
F) A) and B)

Question 4

Refer to the information above. If Amelia paid a total of $75,000 in dividends, how much would each common stockholder receive for each share of stock owned? (Assume there are no dividends in arrears)

Accepted Answer

A)   $0.23.
B)   $0.13.
C)   $0.18.
D)   $0.08.E) C) and D)
F) B) and C)

Question 5

On September 1, 2011, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?

Accepted Answer

A)   $100.
B)   $150.
C)   $200.
D)   $600.E) A) and B)
F) B) and C)

Question 6

Prepare journal entries for stockholders' equity transactions. A partial list of the ledger accounts of Hellman Company is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

Accepted Answer

The answer of Prepare journal entries for stockholders' equity transactions....

Exam 11: Stockholders Equity: Paid-In Capital

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On September 1, 2011, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?

Correct Answer
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Refer to the information above. If Amelia paid a total of $75,000 in dividends, how much would each common stockholder receive for each share of stock owned? (Assume there are no dividends in arrears)

Correct Answer
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Prepare journal entries for stockholders' equity transactions. A partial list of the ledger accounts of Hellman Company is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

Correct Answer
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Prepare journal entries for stockholders' equity transactions A partial list of the ledger accounts of Skyway Corporation is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

Correct Answer
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Refer to the information above. If Vision decided to purchase 50,000 shares of its common stock to be used for future stock option plans at $9.50 per share, what journal entry would they make?

Correct Answer
verified

Exam 11: Stockholders Equity: Paid-In Capital

Correct AnswerverifiedShow Answer

On September 1, 2011, Miami Corporation's common stock was selling at a market price of $300 per share. On that date, Miami announced a 2 for 1 stock split. At what price would you expect the stock to trade immediately after the split goes into effect?

Correct AnswerverifiedShow Answer

Refer to the information above. If Amelia paid a total of $75,000 in dividends, how much would each common stockholder receive for each share of stock owned? (Assume there are no dividends in arrears)

Correct AnswerverifiedShow Answer

Prepare journal entries for stockholders' equity transactions. A partial list of the ledger accounts of Hellman Company is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

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Prepare journal entries for stockholders' equity transactions A partial list of the ledger accounts of Skyway Corporation is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.

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Refer to the information above. If Vision decided to purchase 50,000 shares of its common stock to be used for future stock option plans at $9.50 per share, what journal entry would they make?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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