The following data were reported by a corporation: Authorized shares Issued shares Treasury shares 24,000 19,000 5,500 The number of outstanding shares is: Multiple Choice 19,000. 18,500. 13,500.
Gracey's Department Stores has $206,000 of 7% noncumulative, preferred stock outstanding. Gracey's also has $606,000 of common stock outstanding. During its first year, the company paid cash dividends of $36,000. This dividend should be distributed as follows: Multiple Choice $18,000 preferred; $18,000 common. $7,160 preferred; $28,840 common. $36,000 preferred; $0 common. $14,420 preferred; $21,580 common.
The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 24,000 shares authorized, 12,000 shares issued, and 1,400 shares outstanding Paid-in capital in excess of par value, common stock Retained earnings Treasury stock $ 120,000 54,000 29,000 16,660 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is: Multiple Choice O 34,600. 10,600.
National Insurance Company has 200,000 shares authorized, 170,000 shares issued, and 32,000 shares of treasury stock. The number of shares outstanding is: Multiple Choice 200,000 170,000 168,000 o 138,000.
Fargo Company's outstanding stock consists of 450 shares of noncumulative 5% preferred stock with a $10 par value and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. year 1 year 2 year 3 Dividends Declared & Paid $ 28,000 $ 6,000 $ 37,000 The amount of dividends paid to preferred and common shareholders in year 1 is: Multiple Choice $225 preferred; $27,775 common. $4,500 preferred; $23,500 common.
