Question 1

On April 10, Maranda Corporation issued for cash 11,000 shares of no-par common stock at $25. On May 5, Maranda issued at par 1,000 shares of 4%, $50 par preferred stock for cash. On May 25, Maranda issued for cash 15,000 shares of 4%, $50 par preferred stock at $55.
Journalize the entries to record the April 10, May 5, and May 25 transactions.

Accepted Answer

The answer of On April 10, Maranda Corporation issued for...

Question 2

The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.

Accepted Answer

A) True 
 B)False

Question 3

A large public corporation normally uses registrars and transfer agents to maintain records of the stockholders.

Accepted Answer

A) True 
 B)False

Question 4

If a corporation is liquidated, preferred stockholders are paid before the creditors and before the common stockholders.

Accepted Answer

A) True 
 B)False

Question 5

Samuels, Inc. reported net income for 2011 is $105,000. During 2011 the company had 5,000 shares of $100 par, 5% preferred stock and 20,000 of $5 par common stock outstanding. Samuels' earnings per share for 2011 is

Accepted Answer

A)   $4.00
B)   $5.25
C)   $6.50
D)   $5.00E) A) and B)
F) A) and C)

Exam 13: Corporations: Organization, Stock Transactions, and Dividends

Samuels, Inc. reported net income for 2011 is $105,000. During 2011 the company had 5,000 shares of $100 par, 5% preferred stock and 20,000 of $5 par common stock outstanding. Samuels' earnings per share for 2011 is

Correct Answer
verified

The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.

Correct Answer
verified

A large public corporation normally uses registrars and transfer agents to maintain records of the stockholders.

Correct Answer
verified

If a corporation is liquidated, preferred stockholders are paid before the creditors and before the common stockholders.

Correct Answer
verified

Correct Answer
verified

Exam 13: Corporations: Organization, Stock Transactions, and Dividends

Samuels, Inc. reported net income for 2011 is $105,000. During 2011 the company had 5,000 shares of $100 par, 5% preferred stock and 20,000 of $5 par common stock outstanding. Samuels' earnings per share for 2011 is

Correct AnswerverifiedShow Answer

The two main sources of stockholders' equity are investments contributed by stockholders and net income retained in the business.

Correct AnswerverifiedShow Answer

A large public corporation normally uses registrars and transfer agents to maintain records of the stockholders.

Correct AnswerverifiedShow Answer

If a corporation is liquidated, preferred stockholders are paid before the creditors and before the common stockholders.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified