Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Accounting Chapter 9

End-of-Chapter Quiz Questions

Lurvey Company is authorized to issue 50,000 shares of $25 par common stock. On May 30, 2010, Lurvey issued 20,000 shares at $45 per share. Luvey's journal entry to record these facts should include a: credit to Common Stock for $500,000 (20,000 shares x $25 = $500,00)
Syracuse Corporation purchased treasury stock in 2010 at a price of $15 per share and resold the treasury stock in 2011 at a price of $35 per share. What amount should Syracuse report on its income statement for 2011? $0 [No gain or loss (for the income statement) on treasury stock transactions]
The stockholders' equity section of a corporation's balance sheet reports: Discount on Bonds Payable: NO; Treasury Stock: YES
The purchase of this stock decreases total assets and decreases total stockholders' equity. Treasury Stock
When does a cash dividend become a legal liability? On date of declaration
When do dividends increase stockholders' equity? Never
True or False. Stock dividends have no effect on total stockholders' equity. True
True or False. Stock dividends increase the corporation's total liabilities. False
True or False. Stock dividends reduce the total assets of the company. False
True or False. Stock dividends are distributions of cash to stockholders. False
What is the effect of a stock dividend and a stock split on total assets? Stock Dividend: NO EFFECT; Stock Split: NO EFFECT
A 2-for-1 stock split has the same effect on the number of shares being issued as a: 100% stock dividend
The numerator for computing the rate of return on total assets is: Net Income + Interest Expense
The numerator for computing the rate of return on common equity is: Net Income - Preferred Dividends
Created by: 1482116593