STOCK READER
STOCK READER
Accounting question: Stock Splits, Par Value, Dividends, etc.?
1) Is regular dividends declared out of TREASURY STOCK, COMMON STOCK, Retained Earnings, or Paid in Capital in Excess par value?
2) Placing a restriction on retained earnings will:
a: assure that a company has sufficient cash for a specific purpose,
b: increase total stockholders' equity,
c: communicate to readers a portion of retained earnings is unavailable for dividends, or
d: decrease total stockholders' equity.
3) A company issues 1,000 shares of $5 par value common stock for $70,000, then:
a: Common Stock will be credited for $65,000.
b: Paid-in Capital in Excess of Par Value will be credited for $70,000.
c: Paid-in Capital in Excess of Par Value will be credited for $75,000.
d: Cash will be debited for $70,000.
4) A stock split will:
a. have no effect on retained earnings.
b. increase total paid-in capital.
c. increase the total par value of the stock.
d. have no effect on the par value per share of stock.
Thanks so much! I'm stuck on these questions!
1 - Regular Dividends are declared out of Net Income, your profits. But they are based on Common Stock. Because a stock holder are the ones that get the dividends in the end.
Or it could be Retained Earnings, because of #2. Placing a restriction on retained earnings will communicate to readers a portion of RE is unavailable for dividends.
2 - C
3 - D
DR - Cash $70K
CR - Common Stock $5K
CR - APIC $65K
4 - A ( I think. I know C & D are incorrect)
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