题目内容

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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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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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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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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Amber Corporation purchases 40,000 shares of its own $10 par value common stock for $30 per share. What will be the effect on stockholders' equity?

A. Increase $400,000
B. Increase $1,200,000
C. Decrease $400,000
Decrease $1,200,000

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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.

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:

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

Amber Corporation purchases 40,000 shares of its own $10 par value common stock for $30 per share. What will be the effect on stockholders' equity?

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