Which of the complying with is not a characteristic of a corporation?a. The financial loss that a stockholder may suffer from owning stock in a public company is limitedb. Cash dividfinish paid by a corporation are deductible as expenses yet the corporation c. A corporation can very own property in its name d. Corporations are forced to file federal income taxation returns


You are watching: The state charter allows a corporation to issue

One of the primary disbenefits of the corpoprice develop is the a. inability to raise big amounts of capital b. double taxation of dividends c. charterd. necessity to stock
Stockholders" Equitya. is usually equal to cash on hand also b. consists of paid-in capital and also liabilities c. contains preserved revenue and paid-in resources d. is shown on the earnings statement
The state charter enables a corporation to concern only a certain number of shares of each class of stock. This amount of stock is calleda. treasury stock-repurchased b. issued stock-born c. superior stock-Issued and also not repurchased d. authorized stock- complete amount allowed
The charter of a corporation offers for the insurance of 100,000 shares of widespread stock. Assume that 40,000 shares were originally issued and also 10,000 were consequently forced. What is the variety of shares outstanding?a. 10,000b. 40,000c. 30,000d. 50,000
The par value per share of widespread stock represents the a. minimum offering price of the stock established by the write-ups of incorporation b. minimum amount the stockholder will get as soon as the corporation is liquidated c. dollar amount assigned to each share- legal capital d. amount of dividends per share to be got each year
Nebraska Inc. problems 3,000 shares of prevalent stock for $45,000. The stock has a stated worth of $10 per share. The journal enattempt to record the stock issuance would certainly incorporate a crmodify to Usual Stock fora. $30,000b. $45,000c. $15,000d. $3,000
If prevalent stock is issued for an amount greater than par value, the excess should be credited toa. kept earnings b. cashc. legal capitald. paid-in resources in excess of par
The day on which a cash dividfinish becomes a binding legal obligation is on the a. declaration dateb. date of document c. payment day d. last day of the fiscal year
Which of the complying with is the correct general journal enattempt to document the declaration of cash dividends? a. preserved income, cash b. cash dividends payable, cash c. paid-in resources, cash dividends payabled. cash dividends, cash dividends payable
One ratio is provided for analyzing profitability is the income per share of prevalent stock superior in the time of a period. Basic earnings per share=net income-preferred dividends/average number of widespread shares outstanding
A corporation may additionally issue one or more classes of stock with miscellaneous preference civil liberties such as a preference to dividends
Called appropriations, are a part of the preserved earningsThese include:Legal Contractual Discretionary
A financial statement that summarizes the amounts and also reasons of transforms in retained earnings for a particular time period.
Is a process whereby a corporation reduces the par or state value of its prevalent stock and also issues a proportionate number of additional shares.
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Fundapsychological Financial Accounting Concepts9th EditionChristopher Edmonds, Frances M McNair, Philip R. Olds, Thomas P. Edmonds
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