241 Chapter 11

Ace your homework & exams now with Quizwiz!

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:


Related study sets

Pharm made easy 4.0 The Reproductive and Genitourinary System

View Set

Telephone Review and Quiz - Listening: Conversations. 100%

View Set

Chapter 4: Fluid and Electrolyte Imbalances

View Set

Chapter 22- World History essay questions

View Set