ACC 206 Week 6 Quiz Chapter 14 -
Multiple Choice Question 75
On January 1, Key Corporation had 2,000,000 shares of $10 par value common stock outstanding. On March 31, the company declared a 20% stock dividend. Market value of the stock was $15/share. As a result of this event,
Multiple Choice Question 59
Burnell, Inc. has 5,000 shares of 4%, $50 par value, cumulative preferred stock and 100,000shares of $1 par value common stock outstanding at December 31, 2013, and December 31, 2012. The board of directors declared and paid a $8,000 dividend in 2013. In 2014, $30,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2014?
Multiple Choice Question 81
CCCR Inc., has 2,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2013, and December 31, 2014. The board of directors declared and paid a $4,000 dividend in 2013. In 2014, $24,000 of dividends are declared and paid. What are the dividends received by the common stockholders in 2014?
Multiple Choice Question 92
Kramer Co. had retained earnings of $30,000 on the balance sheet but disclosed in the footnotes that $6,000 of retained earnings was restricted for building expansion and $2,000 was restricted for bond repayments. Cash of $4,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
Multiple Choice Question 90
Sebold Manufacturing declared a 10% stock dividend when it had 700,000 shares of $3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to
Multiple Choice Question 62
Corporations generally issue stock dividends in order to
Multiple Choice Question 61
The board of directors must assign a per share value to a stock dividend declared that is
Multiple Choice Question 46
Regular dividends are declared out of
Multiple Choice Question 64
When stock dividends are distributed,
Multiple Choice Question 125
The date a cash dividend becomes a binding legal obligation to a corporation is the