1.A company issued 155 shares of $100 par value stock for $35,500 cash. The total amount of contributed capital is:
A $1,550
B $20,000
C $35,500
D $34,500
E $100
2.A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings account is equal to:
A $108,625
B $11,375
C $(11,375)
D $(12,625)
E $43,375
3.The following data regarding its common stock were reported by a corporation:
Authorized shares 30,000
Issued shares 21,000
Treasury shares 4,200
The number of outstanding shares is:
rev:
A 34,200
B 16,800
C 30,000
D 25,800
E 21,000