超星 - Assignment 10

单选题

Double taxation means that the:

A. corporation's income tax is allocated to the shareholders based on ownership percentage.
B. corporate earnings are subject to state and federal income tax.
C. corporation pays taxes on its earnings and the shareholders pay taxes on the dividends received from the corporation.
D. shareholders' dividends are taxed at the corporate tax rate.

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单选题

Which one of the following is NOT a stockholder's right of ownership in a corporation?

A. the right to participate in management by voting on matters that come before the stockholders
B. the right to receive a proportionate share of the assets remaining after all liabilities are paid upon liquidation
C. the right to maintain one's proportionate share of ownership in the corporation
D. the right to decide if a dividend should be distributed

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单选题

Which statement is FALSE?

A. Preferred stockholders receive dividends before the common stockholders only if the preferred stock is cumulative.
B. Preferred stockholders receive dividends before the common stockholders.
C. Preferred stockholders receive assets before the common stockholders if the corporation liquidates.
D. Preferred stockholders have the same basic four rights as common stockholders, unless a right is taken away.

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单选题

If a corporation issues 4,000 shares of $1 par value common stock for $8,000, the journal entry would include a credit to:

A. Common Stock for $8,000.
B. Paid-in Capital in Excess of Par—Common for $8,000.
Common Stock for $4,000.
D. Retained Earnings for $4,000.

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单选题

If a corporation issues 5,000 shares of $5 par value common stock for $95,000, the journal entry would include a credit to:

A. Common Stock for $95,000.
B. Paid-in Capital in Excess of Par—Common for $95,000.
Common Stock for $70,000.
D. Paid-in Capital in Excess of Par—Common for $70,000.

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单选题

When 100 shares of $1 par value Common Stock are issued at $25 per share, Paid-in Capital in Excess of Par—Common will:

A. increase $100.
B. increase $2,500.
C. increase $2,400.
D. stay the same.

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单选题

Lewandowski Company reports the following information at the fiscal year end of December 31, 2015:Common Stock, $0.10 par value per share$88 millionPaid-in Capital in Excess of Par—Common700 millionRetained Earnings800 millionTotal Stockholders' Equity$1,588 millionWhatisthetotalpaid-incapitalforthiscompanyatDecember31,2015?

A. $88million
B. $788million
C. $888million
D. $1,588million

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单选题

Gruber Law Offices paid $54,000 to buy back 9,000 shares of its $1 par value common stock. The stock was sold later at a selling price of $10 per share. The journal entry to record the sale would include a:

A. credit to Paid-in Capital from Treasury Stock Transactions $54,000.
B. debit to Common Stock $54,000.
C. credit to Paid-in Capital from Treasury Stock Transactions $36,000.
D. credit to Common Stock $36,000.

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单选题

Reasons that a company would purchase treasury stock include all of the following EXCEPT:

A. management wants to avoid a takeover by an outside party.
B. it needs the stock for distribution to employees under stock purchase plans.
C. it wants to increase net assets by buying its stock low and reselling it at a higher price.
D. management wants to decrease earnings per share of common stock.

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