accounting review

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A company had a beginning balance in retained earnings of $44,500. It had net income of $7,500 and paid out cash dividends of $6,000 in the current period. The ending balance in retained earnings equals:

$13,500.

$6,000.

$58,000.

$46,000.

$43,000.
Shamrock Company had net income of $37,380. The weighted-average common shares outstanding were 8,900. The company sold 3,900 shares before the end of the year. There were no other stock transactions. The company's earnings per share is:

$2.92.

$9.58.

$4.20.

$7.48.

$5.36.
Shamrock Company had net income of $36,520. The weighted-average common shares outstanding were 8,800. The company declared a $3,500 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. The company's earnings per share is:

$4.55.

$3.75.

$3.50.

$4.30.

$4.15
A company has net income of $870,000; its weighted-average common shares outstanding are 174,000. Its dividend per share is $1.25, its market price per share is $104, and its book value per share is $100.00. Its price-earnings ratio equals : 03_05_2014_QC_46271

20.00.

2.75.

5.25.

20.80.

4.00.
A company has earnings per share of $9.80. Its dividend per share is $.60, its market price per share is $124.46, and its book value per share is $100. Its price-earnings ratio equals:

10.20.

12.70.

16.33.

9.80.

8.70.
A company paid $0.76 in cash dividends per share. Its earnings per share is $4.48 and its market price per share is $26.50. Its dividend yield equals (Round you answer to 2 decimal places.):

2.87%.

3.49%.

5.89%.

16.96%.

16.91%.
A company paid $1.00 in cash dividends per share. Its earnings per share is $3.00, and its market price per share is $28.50. Its dividend yield equals:

30.0%.

10.5%.

3.0%.

3.5%.

33.3%
A company has 36,000 shares of common stock outstanding. The stockholders' equity applicable to common shares is $448,200, and the par value per common share is $10. The book value per share is:

$2.45.

$12.45.

$10.00.

$44.82.

$0.08.
A company has 1,500 shares of $100 par preferred stock. It also has 30,000 shares of common stock outstanding, and its total stockholders' equity equals $645,000. The book value per common share is:

$21.50.

$16.50.

$100.00.

$20.48.

$15.71
A company has 1,000 shares of $50 par value preferred stock outstanding, and the call price of its preferred stock is $65 per share. It also has 10,000 shares of common stock outstanding, and the total value of its stockholders' equity is $410,000. The company's book value per common share equals:

$37.27.

$41.00.

$31.36.

$36.00.

$34.50.
Book Value per Share = Stockholders' Equity Applicable to Common/Common Shares Outstanding Book Value per Share = [$410,000 – (1,000 × $65)]/10,000= $34.50.

A corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 240 shares to its attorneys in payment of a $4,400 charge for drawing up the articles of incorporation. The entry to record this transaction would include:

A credit to Common Stock for $4,400.

A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000.

A debit to Organization Expenses for $2,400.

A credit to Paid-in Capital in Excess of Par Value, Common Stock for $4,400.

A debit to Organization Expenses for $4,400
A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include:

A credit to Common Stock for $189,000.

A credit to Common Stock for $135,000.

A credit to Paid-in Capital in Excess of Par Value, Common Stock for $189,000.

A debit to Cash for $135,000.

A debit to Paid-in Capital in Excess of Par Value,...
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