End-of-Chapter Quiz Questions
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| 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: | show 🗑
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| show | $0 [No gain or loss (for the income statement) on treasury stock transactions]
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| The stockholders' equity section of a corporation's balance sheet reports: | show 🗑
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| show | Treasury Stock
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| show | On date of declaration
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| show | Never
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| show | True
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| True or False. Stock dividends increase the corporation's total liabilities. | show 🗑
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| show | False
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| show | False
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| What is the effect of a stock dividend and a stock split on total assets? | show 🗑
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| A 2-for-1 stock split has the same effect on the number of shares being issued as a: | show 🗑
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| The numerator for computing the rate of return on total assets is: | show 🗑
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| The numerator for computing the rate of return on common equity is: | show 🗑
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