241 Chapter 11
True
A corporation may have more shares of stock issued than it has outstanding. This statement is
True
A general journal entry is not required to recognize a stock split. This statement is
False
On the balance sheet, paid-in excess accounts are normally shown after the retained earnings account. This statement is
Double taxation
Which of the following is a disadvantage of a corporate form of business?
Voting Rights
Which of the following is not a common characteristic associated with preferred stock?
Zero
Wilson Corporation was established on January 1, 2015 when it issued 20,000 shares of $50 par, 5 percent, cumulative preferred stock and 30,000 shares of $10 par common stock. The company declared the following dividends in 2015, 2016, and 2017:
$40,000
Wilson Corporation was established on January 1, 2015 when it issued 20,000 shares of $50 par, 5 percent, non-cumulative preferred stock and 30,000 shares of $10 par common stock. The company declared the following dividends in 2015, 2016, and 2017:
