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Grades for essay questions, and comments from your instructor, are in the "Details" section below. Question Type: Multiple Choice Date Taken: Time Spent: Points Received: # Of Questions: 5 2/1/2012 34 min , 06 secs 12 / 20 (60%) # Correct: 3
(TCO E) Stockholders' equity is generally classified into two major categories: contributed capital and appropriated capital. appropriated capital and retained earnings. retained earnings and unappropriated capital. earned capital and contributed capital.
Student Answer:
Instructor Explanation:
2.
(TCO E) A "secret reserve" will be created if inadequate depreciation is charged to income. a capital expenditure is charged to expense. liabilities are understated. stockholders' equity is overstated.
Instructor Explanation:
3.
Question :
(TCO E) Norton Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share, and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share, all for a lump sum of $192,000. What amount of the
(4,000 X $25) + (6,000 X $20) = $220,000 ($120,000 $220,000) X $192,000 = $104,727. Chapter 15.
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4.
Question :
(TCO F) Anders, Inc., has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2011. There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011? $15,000 $25,000 $45,000 $0
Student Answer:
Instructor Explanation:
5.
Question :
(TCO F) Written, Inc. has outstanding 300,000 shares of $2 par common stock and 60,000 shares of no-par 8% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $63,000 will be distributed as a dividend in the current year, how much will the preferred stockholders receive?
Student Answer: