Get Solved ACCT 551 Week 5 Quiz (Multiple Practice Versions)

Get Solved ACCT 551 Week 5 Quiz Multiple Practice Versions

ACCT 551 Week 5 Quiz → Winter 2017

1. Question: (TCO E) The accounting problem in a lump-sum issuance is the allocation of proceeds between the classes of securities. An acceptable method of allocation is
2. Question: (TCO E) A “secret reserve” will be created if
3. Question : (TCO E) Berry Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2010, the first year of the corporation’s existence:
4. Question: (TCO F) Anders, Inc. has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2011……… The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011?
5. Question : (TCO F) Written, Inc. has 300,000 outstanding shares of $2 par common stock and 60,000 shares of no-par 8% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past 2 years and the current year.
   

   ---

 ACCT 551 Week 5 Quiz → Summer 2016 (Mixed Questions from Two Versions) 

1. Question: (TCO E)Stockholders’ equity is generally classified into two major categories:
2. Question: (TCO E)A primary source of stockholders’ equity is
3. Question: (TCO E) A “secret reserve” will be created if
4. Question: (TCO E) Which of the following represents the total number of shares that a corporation may issue under the terms of its charter?
5. Question: (TCO E) Norton Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share, and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share, all for a lump sum of $192,000. What amount of the proceeds should be allocated to the preferred stock?
6. Question: (TCO F) Anders, Inc., has 5,000 shares of 5%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2011……… The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011?
7. Question: (TCO F) Colson Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 7%, $100 par value cumulative preferred stock outstanding……… How much cash will Colson distribute to the common stockholders? 6,000 x 7% x 100 = $42,000 owed to preferred shareholders each year. 160,000 – 42,000 preferred dividends in arrears – 42,000 preferred current dividends = A. $76,000.
8. (TCO F) Written, Inc. has 300,000 outstanding shares of $2 par common stock and 60,000 shares of no-par 8% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends …….. preferred stockholders receive?

Need Help with Quiz?

Are you looking for online exam help? Our take my online test experts will save you from all the stress you take to solve exams online. Our exam helper will guide you with the most accurate solution for your online exam preparations. We recommend you consult with our online exam helper to find the right direction for clearing your test. Our team has provided online exam help to many students in popular countries like the United States, Canada, Australia, and the United Kingdom, where students have received good grades. So, what are you waiting for? Take this golden opportunity to excel in your test. Chat with us today!