quiz 11

The sale of 100 shares of $1 par value common stock sold for $500 cash would be recorded with a credit to what account?

Paid in capital in excess of par for $400

The purchase of treasury stock would be recorded with a debit to what account?

treasury stock

On the date of payment, a cash dividend would be recorded with a credit to what account?

cash

The purchase of treasury stock would be recorded with a credit to what account?

cash

The sale of no-par stock for $100 cash would be recorded with a debit to what account?

cash

On the date of declaration, a cash dividend would be recorded with a debit to what account?

cash dividends

On the date of payment, a stock dividend would be recorded with a credit to what account?

common stock

On the date of payment, a stock dividend would be recorded with a debit to what account?

common stock dividends distributable

The sale of no-par stock for $100 cash would be recorded with a credit to what account?

common stock for $100

On the date of declaration, a cash dividend would be recorded with a credit to what account?

dividends payable

On the date of payment, a cash dividend would be recorded with a debit to what account?

dividends payable

On the date of record, a cash dividend would be recorded with a credit to what account?

no entry necessary

On the date of record, a stock dividend would be recorded with a credit to what account?

no entry necessary

On the date of declaration, a stock dividend would be recorded with a debit to what account?

stock dividends