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Devry ACCT 312 Week 3 Quiz Latest
- 1.Question : (TCO 4) The common stock account in a company’s balance sheet is measured as
the number of common shares outstanding multiplied by the stock’s par value per share.
the number of common shares outstanding multiplied by the stock’s current market value per share.
the number of common shares issued multiplied by the stock’s par value per share.
None of the above
Question 2. Question : (TCO 4) Issued stock refers to the number of shares
issued for cash.
in the hands of shareholders.
outstanding plus treasury shares.
that may be issued under state law.
Question 3. Question : (TCO 4) Our company declared a property dividend to give marketable securities to its common stockholders.The securities had cost our company $14 million and currently have a fair value of $32 million. Which would be included in recording the property dividend declaration?
Increase in a liability for $32 million
Decrease in retained earnings for $14 million
Decrease in marketable securities by $32 million
All of the above
Question 4. Question : (TCO 4) When treasury shares are resold at a price below cost,
paid-in capital and/or retained earnings is increased.
paid-in capital and/or retained earnings is reduced.
retained earnings is always reduced.
a loss is taken on the income statement.
Question 5. Question : (TCO 4) Our company has outstanding 400 million shares, $2 par common shares, selling for $8 per share.After a 1 for 4 reverse stock split,
our company would have 100 million shares, $8 par per share.
the market price per share would be about $2.
fractional shares would be issued.
retained earnings would be reduced.
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Devry ACCT 312 Week 3 Quiz Latest
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