Home / Questions / A corporation has 5,000 shares of 8 percent noncumulative preferred stock and 10,000 share
A corporation has 5,000 shares of 8 percent noncumulative preferred stock and 10,000 shares of common stock outstanding. Par value for each is $100. No dividends were paid last year, but this year a(n) $73,000 dividend is paid. How much of this $73,000 goes to the holders of common stock?
|
a. |
$33,000 |
|
b. |
$43,000 |
|
c. |
$53,000 |
|
d. |
$63,000 |
134.Dividends in arrears cannot exist in conjunction with
|
a. |
cumulative preferred stock. |
|
b. |
noncumulative preferred stock. |
|
c. |
callable preferred stock. |
|
d. |
convertible preferred stock. |
135.Which of the following would not be an account in the general ledger of a corporation?
|
a. |
Dividends in Arrears |
|
b. |
Retained Earnings |
|
c. |
Dividends Payable |
|
d. |
Additional Paid-in Capital |
136.When callable preferred stock is called and surrendered, the shareholder is entitled to all of the following except
|
a. |
dividends in arrears. |
|
b. |
a call premium. |
|
c. |
a prorated portion of the current period's dividend. |
|
d. |
the market value of the stock. |
137.Preferred stock is least likely to have which of the following characteristics?
|
a. |
Preference as to dividends |
|
b. |
Preference as to assets upon liquidation of the corporation |
|
c. |
The right of the holder to convert to common stock |
|
d. |
The right of the holder to vote at stockholders' meetings |
138.Which of the following stock terms is least like the others?
|
a. |
Legal capital |
|
b. |
Stated value |
|
c. |
Market value |
|
d. |
Par value |
139.Par value is the minimum cushion of capital established for the protection of
|
a. |
creditors. |
|
b. |
all of these. |
|
c. |
investors (stockholders). |
|
d. |
management. |
140.If a corporation has issued common stock at various prices that exceed par value, legal capital will be made up of the
|
a. |
total amount of contributed capital plus retained earnings. |
|
b. |
par value of the shares issued. |
|
c. |
total stockholders' equity plus total liabilities. |
|
d. |
total amount of contributed capital. |
141.The excess of the issuance price over the stated value of a no-par common stock should be credited to the
|
a. |
Treasury Stock account. |
|
b. |
Additional Paid-in Capital account. |
|
c. |
Retained Earnings account. |
|
d. |
Common Stock account. |
142.The par value of the common stock represents the
|
a. |
amount the corporation received when the stock was issued. |
|
b. |
amount entered into the corporation's Common Stock account when a share is issued. |
|
c. |
liquidation value of the stock. |
|
d. |
market value of a share of stock. |
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