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ACC 291 Principles Of Accounting II Week 4 Quiz Chapter 10 Answers

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Phoenix ACC 291 Week 4 Quiz Chapter 10  Answers (2017)

  1. The stockholders of a corporation have unlimited liability.
  2. Which of the following is a disadvantage of the corporate business form?

  3. If a corporation issues 1,000 shares of $3 par common stock for $7 a share, how much is the legal capital?

  4. For what reason might a company acquire treasury stock?

  5. Which one of the following is not a right of preferred stockholders?

  6. If everything else is held constant, what will cause earnings per share to increase?

  7. Which of the following does not increase the return on common stockholders’ equity?

  8. When a stock dividend is declared, which of the following accounts is debited?

  9. Jaylo Inc. had net income of $500,000, net sales of $10,000,000 and paid cash dividends of $200,000 to the common stockholders. How much is Jaylo’s payout ratio?

  10. Consider the following data for a corporation:

    Net income

     

    $800,000

    Preferred stock dividends

     

    $50,000

    Market price per share of stock

     

    $25

    Average common stockholders’ equity

     

    $4,000,000

    Cash dividends declared on common stock

     

    $20,000


    What is the return on common stockholders’ equity?

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