1. Brandon Corporation issues 2,000 shares of $40 per common stock for $43 per share. The amount credited to paid-in capital in excess of Paris: \
2. The date of declaration creates a (n) for the corporation.
A) Asset
B) liability
C) expense
D) revenue
3. Rick Company has declared a $40,000 cash dividend to shareholders. The company has5,000 shares of $20-PAR ,6%preferred stock and 10.000 shares of $15-par common stock. The preferred stock is non-Cumulative. How much will be distributed to preferred and common stockholders on the date of payment.
4. A stock divided affects the debiting and crediting of the following accounts: A) debit retained earnings, debit common stock; credit paid in capital in excess of par B) credit retained earnings, debit common stock; credit paid in capital in excess par) Debit retained earnings, credit common stock; credit paid in capital in excess of par D) credit retained earnings, credit common stock and credit paid in capital in excess par
5. A 2-for-1 stock split will:
A) double the number of shares of stock and double the par value per share.
B) double the number of shares of stock and halve the par value per share.
C) halve the number of shares of stock and halve the par value per share
D)halve the number of shares of stock and double the par value per share.