1.
__________
2.
False
16.
16.
If the board of directors does not declare the regular quarterly divided on its common
stock, the corporation's liabilities will include the omitted dividend.
True
False
17.
17.The
__________
date is the date on which the corporation records a liability for its quarterly dividend.
18.
18.The
__________
date determines which stockholders will receive a declared dividend.
19.
19.If a corporation declares a small stock dividend, the account that will be
reduced by a debit entry is
__________
.
20.
20.A stockholder will have the same number of shares after a 3-for-2 stock split
or after a
__________
% stock dividend.
21.
21.A corporation's own shares of stock that have been reacquired from its
stockholders but have not been retired are called
__________
.
22.
22.The account, Treasury Stock, will have either a zero balance or a
__________
(debit, credit) balance.
23.
23.If a share of treasury stock is sold for more than its cost, the difference is
credited to
__________
.
24.
24.
Treasury stock sales can result in a loss on the corporation's income statement.
True
False
25.
25.If preferred stockholders have the opportunity to receive more than the stated
dividend percentage, the stock is described as
__________
preferred stock.
26.
26.Dividends in arrears occur only on
__________
preferred stock.
27.
27.Dividends in arrears are reported in the financial statements in the
__________
.
28.
28.If a preferred stock can be exchanged for a stated number of common shares,
it is referred to as
__________
preferred stock.
29.
29.The book value per share of preferred stock is its
__________
plus any dividends in
__________
.
30.
30.Earnings per share means earnings per share of
__________
.
31.
31.A debit balance in Retained Earnings will appear in stockholders' equity as
__________
.
32.
32.The
__________
of a corporation declares the dividends.
33.
33.The directors of a corporation appoint
__________
to carry out the corporation's policies and directives.
34.
34.When a small stock dividend is declared, the
__________
value of the new shares is transferred from Retained Earnings to paid-in capital
accounts.
35.
35.A separate portion of stockholders' equity that reports certain gains and
losses on hedges, foreign currency translations, and pension liabilities that were not
part of net income shown on the income statement is