menu
Sign up

On April 15,the Board of Directors Declared a 2 for 1

Question 71
Multiple Choice

On April 15,the board of directors declared a 2 for 1 split on Samco's 20,000 outstanding shares of $10 par,common stock.After the split,the total number of shares and par value per share are: A) 20,000 shares,$10 par. B) 10,000 shares,$20 par. C) 40,000 shares,$5 par. D) 20,000 shares,$5 par.

Related questions
Q 72
Which of the following would not change the amount of total retained earnings for the year? A) cash dividends declared and distributable B) the net income after taxes for the year C) stock dividends declared and distributed D) the transfer of retained earnings appropriated for treasury stock
Q 73
A formal method by which a company can restrict dividend distributions. A) Deferral. B) Appropriation. C) Declaration. D) Reserve.
Q 74
A corporation reacquired 400 shares of its $100 par-value common stock for $105 a share.The entry to record this transaction includes a A) debit to Treasury Stock-Common for $40,000. B) debit to Treasury Stock-Common for $42,000. C) credit to Paid-in Capital for Treasury Stock Transactions-Common for $40,000. D) credit to Treasury Stock-Common for $42,000.
logo
© 2020 QuizPlus. All Right Reserved